Car shoppers that have experienced problem credit in some cases don’t take their overall financial situation into account before choosing a vehicle for a high risk auto loan.
Car buyers suffering from poor credit that rely on auto loans should be cheered by additional information found in the latest quarterly report from Experian Automotive.
From what we have learned, car buyers with problem credit don’t always have the time to apply for an auto loan either from work or at home.
The percentage of delinquencies remains flat while the number of auto loans to car buyers with questionable credit continued to rise during the second quarter of 2013.
Having a vehicle repossessed is never a good thing. In fact, having one appear on a credit is one of the worst things that can happen to any borrower. But it is especially bad if the auto loan in question belongs to a consumer with problem credit.
Have you ever wondered about those advertisements for no credit check auto loans, easy credit car finance or no income car loans? At least in our opinion borrowers with less than perfect credit might want to consider something else before clicking on the link or picking up the phone.