Not all borrowers with credit issues, students or parents, will be given the option of financing a new car, but if they are and the approval is through one of the franchises listed above, they probably wouldn’t go wrong choosing any one of these “back to school” cars.
There are reasons why people are very protective of their credit ratings. Yes, having compromised credit may prevent you from getting a loan, but it can affect your quality of life in other areas as well. So, there’s a good chance that improving your credit will make almost everything seem better.
Having a low credit score makes it incredibly difficult to get approved for a car loan. While those with scores above 500 may still be able to find a loan with a subprime dealer, individuals who have scores of 480 or lower commonly find themselves out of luck in even the subprime region of lending. How can a car buyer with a 480 credit score get a car, then? There are actually two options available: a Buy Here Pay Here (BHPH) or a Rent-to-Own (RTO) car dealership. These two types of dealers focus more on your ability to pay – not your credit.
A divorce can be a potentially devastating event for all parties involved. It can strongly affect participants both emotionally and financially, and getting yourself on your feet after a divorce is no easy task. For example, how do you go about buying a car with post-divorce damaged credit?
The latest report from Equifax is positive news for car buyers with bad credit. But at the same time, these buyers need to be familiar with their credit situation, come into a loan with at least ten percent down and keep the loan term as short as possible to ensure success.
Looking for a vehicle is a big deal. In fact, taking out an auto loan is one of the biggest financial commitments people make. So, what happens when you need a car but are experiencing issues with your finances? We have some answers that may ease your mind.
If you’ve have experienced events that have led to bad credit, you may be wondering just how long these events will remain documented on your credit report.