If you have bad credit and need to finance a vehicle purchase, you may be worried about facing an exceptionally high interest rate. However, depending on your credit history and score, this may not be the case.
Continue ReadingIf you have bad credit and need to finance a vehicle purchase, you may be worried about facing an exceptionally high interest rate. However, depending on your credit history and score, this may not be the case.
Continue ReadingUnderstanding the different types of bad credit car loan dealer types can help credit challenged consumers decide how to finance their next car.
Continue ReadingCredit-challenged borrowers should stay away from used cars with poor as the odds of paying for costly repairs on top of the monthly car payment increase for these vehicles.
Continue ReadingCar buyers with bad credit often have difficulty locating the right kind of car dealers that are willing to help them.
Continue ReadingIn addition to credit scores, ability, stability and willingness to pay are taken into account when determining interest rates for borrowers with tarnished credit. Since each lender weighs these factors differently, determining the exact interest rate a particular applicant will qualify for usually can't be done.
Continue ReadingEven with the rise in new car sales to consumers with bad credit, the majority of subprime car loans are still secured by a used car. This means that the latest announcement from the Department of Justice should be especially good news for credit-challenged car buyers, as it gives these purchasers another tool to prevent them from becoming a victim of fraud.
Continue ReadingFor car shoppers with past problem credit or even those with absolutely no auto credit at all (that is, they've never had a car loan) where they decide to apply for one can often mean the difference between a loan approval and a credit denial.
Continue Reading“Buy here pay here” and “tote the note dealers” have helped lots of people buy a car that otherwise might not have been able to. Since these dealers fund the loans themselves, they don't require credit checks. But if you're looking to reestablish your credit, this route is usually a waste of time.
Continue ReadingCar shoppers with problem credit will find some good news in the most recent data from Equifax if they're contemplating applying for an auto loan in the near future.
Continue ReadingAlthough AmeriCredit currently has relationships with 4,000 General Motors dealers, buyers with bad credit might now have an easier time getting financed at a GM dealer.
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