The Truth about Preapproved No Credit Auto Loans

What really lies behind those ads you see about preapproved horrible credit auto loans

The Truth about Preapproved No Credit Auto Loans

Our experience

Credit-challenged applicants often ask us about getting preapproved for a problem credit auto loan.

We want you to know the truth about preapproved bad credit auto loans because we’ve been involved in in bad credit car sales for two decades here at Auto Credit Express. We even created a website so that applicants can learn about topics such as tote the note dealers and credit repair as well as today’s topic, getting preapproved for no credit auto loans.

Bad credit auto loan preapprovals

Here is something we recently viewed on another bad credit auto loan web site:

“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 article has either never done poor credit auto finance or, if they have, they’re trying to convince people to believe something that isn’t true in order to get their credit information.

Here are the facts:

•    With a low credit score, there is no way anyone can get approved anywhere for a low interest auto loan

•    If your credit history is really bad, there’s a good chance you won’t get approved for any kind of auto loan – at least not without a big down payment – and possibly not even then.

•    Comparing bad credit car loan lenders can be very difficult. Most only make loans through car dealers. This means you won’t be able to see the interest rate unless you visit a dealer who is signed up with one of these lenders. Even then, the finance manager typically chooses a lender based on the terms of the credit decisions received (provided there is more than one approval).

The Bottom Line

If you have bad credit, you need to know how the loan process works in order to decide where and how to establish your auto credit. Bad web sites offering preapproved online car loans bad credit just want your credit information and don’t represent a true offer of credit based on your credit score (because they don’t have it yet!).

At Auto Credit Express we specialize in helping people with bad credit find a dealer for their best chance at getting approved for a bad credit car.

So if you’re serious about getting your car credit back on track, you can begin right now by filling out our online car loans bad credit application.

Posted on December 22, 2011 by in Auto Loans, Bad Credit, Credit Repair
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