Not all borrowers with problem credit will be given the option of financing a new car, but if they are and it’s through one of the franchises listed above, they probably wouldn’t go wrong choosing any one of these “cool” cars.
The expanded Military Discount Program from General Motors that runs through June 30th offers an opportunity for even more active, reserve, retired and veteran military with credit issues to save even more money on a new car while reducing the overall interest expenses of a subprime car loan. But in order to take advantage of the program, these borrowers must first qualify for a new car at a participating GM dealer that also specializes in problem credit car loans.
In-car connectivity is the latest thing and even consumers with less than perfect credit who are looking for these features can choose from the six entry-level models we picked out based on the latest list from Kelley Blue Book.
In-car connectivity may be the latest thing, but there are still drivers out there who either don’t need or don’t want these features in a new car. Borrowers with less than perfect credit who feel this way can choose from the three entry-level models we picked out based on the latest list from Edmunds.com.
While it may be tempting to try to get as much car as you can get, it is a better plan to buy the car that you can realistically afford. Even if your income will technically cover a higher payment, will you be left with enough money to cover the costs associated with ownership? It is also important to have at least a little money to put back every month in case you are forced to deal with an emergency expense.
According to Consumer Reports, credit-challenged buyers would be doing themselves a favor by avoiding these six vehicles. Despite their affordable prices, their faults include noisy cabins, slow acceleration, poor ride quality and unacceptable scores on the IIHS small-overlap crash tests.
Consumers with credit issues who choose one of these affordable cars with the shortest loan term possible will find that once they’ve reestablished their credit, they’ll quickly be in a better position for their next loan.