Bad credit auto loan shoppers should not believe everything they read about getting preapproved for a low interest rate
What we do
At Auto Credit Express, we've spent the last twenty years helping consumers with bad credit raise their credit scores and reestablish their car credit by financing a new or newer used car using car loans with bad credit. During that time, we've tried to educate consumers on the bad credit car loan process (such as comparing auto loans for bad credit versus a tote the note dealer), since people with bad credit begin the process with a distinct disadvantage due to the high interest rates charged by bad credit auto loan lenders.
We offer this service through our nationwide network of auto retailers that do more than just talk about bad credit car loans – they specialize in financing customers with credit problems.
This means that if you've had a bankruptcy, slow pay, repossession or other bad credit issues, these dealers can offer you your best opportunity to drive a quality vehicle and reestablish your credit at the same time. Because they understand the bad credit car customer, you will be treated with the same respect as all of their customers – something that you may not have experienced if you've been turned down at a local dealer that doesn't understand your current situation. Not only will you be treated with consideration, the process is quick, easy, and you can begin it by filling out our credit application from the comfort and privacy of your own home.
Separating fact from fiction
One thing we won't do is trick consumers into filling out an application by telling half truths, which leads us to today's topic: If it sounds too good to be true, it really is too good to be true.
Here is an excerpt from a recent web article (we'll call this one fiction):
“Regardless of your credit history, you can get approved for a low interest auto loan…. Comparing lenders will help you find the best rates.”
Whoever wrote this little item has obviously never been involved in special finance or, if they have, they're certainly out to reel some poor unsuspecting consumer in with false promises in order to get their credit information.
1. If your credit history is bad, you absolutely will not get approved, anywhere, for a low interest auto loan.
2. If your credit history is really bad, you may not get approved for any kind of auto loan – at least not without a lot of money down – and maybe not even then.
3. It's very difficult to compare bad credit car loan lenders. Most of them only do indirect lending through car dealers, so you won't be able to compare them unless you visit a dealer that specializes in special finance. Even then, it is the dealer that will choose the lender, based on the payment call received.
Knowledge is good
If you are a movie buff, you might remember the line “knowledge is good.” It was written on the statue of Emil Faber at the fictional Faber College in the movie Animal House. It was meant as a joke, but in the realm of bad credit auto loans, knowledge really is “good”.
On the Auto Credit Express web site, you'll find a FAQ section that can answer most of your questions. You'll also find a “Resources” tab at the top of the home page that will lead you to an area where you can estimate the loan amount your income will qualify you for as well as compute a monthly car payment. You'll also find our toll-free number listed at the bottom of every page in case you have any additional questions.
The Bottom Line
If you are someone who has bad credit you need to know how the process works in order to make sound financial decisions about reestablishing your credit. The bad credit auto loan process has to be looked at as a series of steps with each taking you one step closer to better credit.
Here at Auto Credit Express, we specialize in placing customers with bad credit with dealers that can help them. Our affiliate dealers are knowledgeable and will treat you with the same high respect that they treat every customer that walks through their doors. If you have any questions that our web site can't answer, feel free to call us at the toll free number listed there.
So if you are serious about getting your credit back on track, why not begin a new chapter in your life by filling out our bad credit car loan application.