It may not happen too often, but when an applicant with poor credit either forgets to or brings in the wrong type of identification sometime during the car loan process or, worse still, at the time of delivery it can bring everything to a halt.
Car buyers with problem should know why dealers advertising rent to own car loans could care less about their credit situation while dealers that offer higher risk car loans view this situation differently.
In our experience consumers with questionable credit in many cases wonder why it’s so hard finding a lender that’s willing to consider them for a car loan.
Car buyers that have experienced problem credit and whose income largely relies on tips typically face a number of problems when applying for a car loan.
Car shoppers that have experienced some type of problem credit will find that it’s not just income but an individual’s income after expenses that subprime auto lenders consider most important in determining whether or not they’ll qualify for an auto loan.
For 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.