For consumers with questionable credit choosing not just the right vehicle but also the right kind of vehicle can be critical to accomplishing the goals of
completing a car loan while reestablishing their auto credit.
We frequently get questions from consumers with questionable credit about whether or not it’s possible to get a preapproved car loan.
Unlike the older cars sitting on BHPH car lots, the vehicles that subprime auto lenders generally finance are newer and require higher levels of insurance coverage. In addition to that, car buyers with problem credit should also include in their budgets all the other expenses involved before signing on the dotted line for an auto loan.
Consumers with problem credit typically ask us about auto leasing because they’re either looking at more expensive vehicles or they want to keep their car loan payments as low as possible.
Auto loans to buyers with poor credit continued to increase during the fourth quarter of 2012.
When it comes down to it, consumers applying for auto loans should place the most dependable cars at the top of their shopping lists especially if they have questionable credit.