Category: Bad Credit
Overstating Income with Problem Credit

Be especially careful when filling out a credit application, making sure all the information entered – especially income – is accurate. If a dealer advises overstating income, the best thing to do is to walk away from the deal and the dealer.

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Is There a Way to Know How Much Car I Can Afford?

Jeff’s situation isn’t as great as Joe’s. Unfortunately, he has bad credit. He only has $500 for a down payment, no extra cash to cover necessary fees, and no trade in. And he needs a car now. He knows he has a slim chance of getting approved, and doesn’t have time to go through the process multiple times only to be turned down. How exactly did Jeff get what he needed?

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What Dealers Will Work with Me?

When your credit is damaged, your options for auto financing of any kind are dramatically reduced. So, of course, walking into any old dealership and saying “finance me” is out of the question, and honestly, a waste of time. So, where do you go?

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Subprime Auto Lenders Backing Off

The moderation in subprime auto loans means that high-risk lenders can afford to be more selective. It also means that potential borrowers with less than perfect credit should check their credit reports, know their credit scores and plan on a larger down payment to maximize their chances of success.

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What Happens if my Car is Repossessed

Vehicle repossession is never a good thing and a black mark like this can linger on a credit report for seven years or longer. Multiple repossessions are even worse and, for the most part, consumers must wait until just one appears in their credit file.

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Understanding Your Bad Credit

Consumers with damaged credit need to know that they’re really not alone and that there are lenders out there willing to work with them – they just have to know where to find them – which is where we come in.

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Bad Credit Car Loans Increasing

The current lending climate for consumers with problem credit is the best it’s been since before the great recession. But while now is a good time to buy a car, buyers need to realize that using a large down payment and picking an affordable vehicle will maximize their chances of successfully reestablishing their credit.

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