If you have bad credit and need to finance a vehicle purchase, you may be worried about facing an exceptionally high interest rate. However, depending on your credit history and score, this may not be the case.
The Federal Reserve (or the Fed) just raised its main interest rate for the first time in 2016 last week. While the interest rate hike was modest, consumers still need to be aware of the effect it may have in the near future.
Financing a vehicle when you have bad credit can be very difficult if you do not have enough money for a down payment. Lenders typically require subprime car buyers to pay $1,000 or 10 percent of a car’s selling price, whichever one is less.
It is possible to get approved for an auto loan with bad credit and no down payment. But it is normally not advised.
If you have repossession on your credit report or another kind of blemish, Auto Credit Express can help you get approved for vehicle financing.
Minneapolis and St. Paul are two of the fastest growing cities in the United States. When combined, the region has a population of over three million people. Each city offers its residents great opportunities for those who are living in the area, such as lake activities, cycling, music, and shopping.