While an applicant’s FICO scores will determine the type of car loan they’ll get, their income when compared to their expenses will determine whether they’ll qualify for a loan as well as the payment range where they’ll be placed.
With income tax season just around the corner there are a couple of reasons car shoppers with less than perfect credit have an advantage this time of year.
With the higher interest rates charged to car buyers with credit problems it hardly makes sense to stretch out loan payments for the longest term possible.
we’d like to share the top three reasons many of these people with credit issues find themselves in this situation.
For most people it no longer has to remain difficult as we can help finance cars if you have credit problems.
If all or even part of an applicant’s monthly income comes from disability pay – especially if that person has experienced credit problems, this can have a negative effect on the approval process.
One way people with credit problems can tell if lenders are legitimate is if they ask for a fee up front to process the application.