If you have bad credit and need to buy a car, getting a cosigner on board can greatly improve your chances for auto loan approval. Just make sure that your potential cosigner is well informed about the responsibility involved and that they will be able to meet all of the necessary requirements.
Bad credit comes in a variety of forms. It makes getting approved for an auto loan at a bank or a credit union more difficult, but there are lenders willing to finance you. However, you should keep in mind the true goal when buying a car with bad credit. Which should be to get the transportation you need while getting a chance to rebuild your credit.
When it comes to a down payment on a car when you have bad credit, we get more than our fair share of questions. Recently, we received this question from a potential applicant that we would like to answer for everybody.
Many consumers lost their homes to foreclosure during the 2007 recession, and while things have since turned around economically, this black mark may still linger on their credit. Will it affect their ability to buy a car?
When you are facing credit issues, it can be difficult to know who to trust. This is why you should turn to Auto Credit Express when you need to finance a car with bad credit.
If you’re thinking of buying a car and you have less than perfect credit, you might consider taking the plunge sooner rather than later as Experian Automotive’s latest report shows an increase in the percentage of delinquencies in the subprime sector.
In a recent report from Experian Automotive shows a trend for longer car loan terms – which is particularly disturbing for borrowers with poor credit.