What to look for prior to signing the purchase contracts for no credit auto loans
Evaluating the Sales Contract for a Bad Credit Car
Checking it out

Even with bad credit it's very important knowing what to look for when signing the loan documents for a problem credit auto loan.

During the two decades of involvement in bad credit car sales here at Auto Credit Express we've seen what can happen if the buyer is not paying attention. This is also one of the reasons we created a website – so that applicants could study issues such as bankruptcy and credit repair as well as today's topic, signing the purchase contract.

The finance contract

When you sign a purchase contract, you're agreeing to the terms it contains. In most states there is no "cooling off" period so you won't be able to change your mind later and bring the car back. This means you need to pay attention to be sure the terms the contract contains are the same as those you agreed to, including:

•    Selling Price – check to see that the price is correct. This figure should include the vehicle's price plus tax, title and license fees. The dealer may also charge a documentation fee to process the paperwork. These fees should be broken out as to the type and amount for each one.
•    Amount Financed – this is the amount that you will be financing. It should be the selling price of the vehicle less any cash down payment, rebates and/or trade equity.
•    Contract Term – this is the length of the contract in months and should reflect the term you agreed to.
•    Interest Rate – this is the interest rate you'll be changed. Again, it should match the interest rate you were quoted.
•    Monthly Payment – this is the amount you'll be required to pay each month during the length of the contract. It should match the figure you agreed to.

If you disagree with anything contained in the finance contract you have the right to walk away before you sign it. If everything is correct and you sign the documents the dealer is required to give you a copy of each one you signed. Before you leave, be sure the dealer has also signed all the required documents.

As we see it

Pay as much attention to the sale and finance documents as you did in negotiating the deal. If you sign anything put in front of you without first checking it and miss something, you're as much to blame as anyone. Taking a few extra minutes could save you a lot of difficulties later on.

We also want you to know this because at Auto Credit Express we specialize in placing applicants with bad auto credit with dealers that can give them their best chance at getting approved for horrible credit auto loans.

So if you're ready to take that first step in improving your car credit, you can begin now by filling out our online car loans bad credit application.