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Car Financing for Bad Credit – 4 Tips to a Car Loan
Tuesday, July 2nd, 2013

Having bad credit can be a real bummer. You work hard every day, do what you can to stay current on your debts, but still find that your credit rating has taken a beating in recent years… If this sounds familiar, it’s important to know that you are not alone. Many people, millions of them in fact, have had credit problems in the recent past. One of the tough things about having credit problems is finding reasonable car financing for bad credit. In case you haven’t noticed, many of the big banks and credit companies out there simply don’t want to loan money to people with poor credit scores. There are, however, some things that you can do to improve your chances of finding the right bad credit car loan for your unique circumstances. Here are four tips to keep in mind as you search for the best bad credit car loans for your upcoming car purchase.

Car financing with bad creditTip #1 – Get Your Credit Report Right Now

You can’t get to where you want to be, until you know where you’ve already been. This may sound like a cliché from a ballad, but it’s true when it comes to getting a bad credit auto loan. You see, too many people flat out ignore their credit history and just assume that they have bad credit. Here’s the deal, though, even if you do have bad credit, you may be able to use your credit report to find some potential problems and to clean them up before you apply for a car loan. Many times people find errors that are very easy to fix on their credit reports and end up with significantly higher credit scores than they previously had.

Tip #2 – Assess Your Current Household Budget

Take a long, hard look at your current financial situation. Look at how much money you are bringing in and how much is going out for bills and expenses. You’ll want to make sure that you have a bit of breathing room in your budget, so you’ll be able to stay current on your new car loan. Try to use paper or a computer program to lay out your entire household budget prior to proceeding with your plans to buy a new car.

Tip #3 – Become Familiar with Bad Credit Car Financing Basics

Sometimes auto financing with bad credit isn’t quite as straight forward as good credit car financing. You may not find your local bank very helpful. But car dealer financing may be the best choice if you’re in need of a car loan with bad credit. Take a look around this website and read some of the helpful posts related to car loans and bad credit. You will find this information both enlightening and helpful as you narrow down your choices of financing options.

Car Loan OnlineTip #4 – Fill out an Online Bad Credit Auto Loan Application

Here’s where you actually take action to get the car loan you’ve been looking for. Many people are surprised to learn the best place to car financing for bad credit is on the Internet. Once you’ve followed the other three suggestions from this post, be sure to take a few minutes to fill out the car loan application here at AutoLoans.us. We work with a huge, nationwide network of auto loan lenders. We can match up your request with one of these top lenders. And the end result may very well be that you get the ideal car loan that you’ve been looking for. Don’t forget that it can take a bit of time to put all of these tips into action. As you are sorting through the process, be sure to read up on all of the bad credit auto loans information that we regularly post for you here at www.AutoLoans.us. Helping you get the car you want is what we are here for!

Bad Credit Auto Loans Online Financing : What are your options?
Sunday, June 23rd, 2013

We all love having options especially if your credit score isn’t the best. We are going to show you how to get new or used car loans with bad credit online. You might be surprised to find out that you really do have a few options when the time comes to get a bad credit car loan.

bad credit auto loans onlineThe SCARY News about Bad Credit Auto Loans

We all know how the mainstream media likes to scare people about their finances. So we just had to dedicate a small section of this post to some of the scary stuff that you’ll often hear people talking about in regard to bad credit auto financing. Here are just a few of the things you might hear floating around on various websites or from your friends :

It’s impossible to get bad credit car loans without a large down payment. Not true. There are any number of auto lenders who offer no money down financing.

You can’t get bad credit auto loans online without paying tons of additional fees. There are never any additional fees on any car loan programs we offer.

All car loans for bad credit borrowers are super-high interest rate loans. Absolutely untrue, there are ton of auto finance loan programs with rates starting as low as 0%.

There is a lot of misinformation out there about buying and financing a  new or used car online. As is usually the case not everything you hear about car loans with bad credit is necessarily doom and gloom.

Car Dealership Bad Credit Auto Financing

A lot of people choose to let the car dealership provide auto financing for their car purchases. Many dealerships allow people with the worst credit scores to buy and finance a new or used vehicle that they never thought was possible. What many people are surprised to learn is car dealer financing could be your best choice when it comes to auto loans for bad credit. There are many bad credit lenders who look for ways to say yes. Financing provided by a car dealer has become the number one source of financing for bad credit auto loans.

bad credit auto loans onlineAnother Way to Get Your Car Loan

The latest way to get a good car loan with bad credit is to go online to find a lender. People love doing business online, as it eliminates time wasting hassles that you face when dealing with a local bank. Online auto loans provide fast confidential approvals for new and used car loans. This is where AutoLoans.us comes into the equation. If you’ve been struggling with how to get a car loan with bad credit, we are going to make it easy. Just two minutes to complete our online auto loan application and you will be on your way to getting the car loan deserve. Consider all your options when the time comes to buy your next car. If you need car financing for bad credit AutoLoans.us can get you approved today.

Bad Credit Car Loan Preparations Saves Time and Money
Thursday, October 4th, 2012

Save money on your next car loanSo what your credit isn’t perfect – that’s about 74% of us. Who hasn’t had a hard time in the last 4 years. That doesn’t mean you can’t finance a new or used car. There are literally hundreds of bad credit car loan lenders just waiting for you to apply. The cost of their money has never been cheaper and they now know that people who have had a little problem are more likely to pay their car loan payments on time like never before just trying to rebuild their credit score.

We got some great advice and tips on getting that car loan below that will make it a much more pleasant buying experience if you follow this advice.

Pre Approval Car Loan With Bad Credit – Things to Consider Before …
Buyers looking forward to obtain pre approved car loan bad credit should be well-versed with what documents they will require providing to lenders for their assessment or verification. Valid driver’s license, bank statements detailing borrower’s savings, credit report, pay stubs, employment proof, etc. are some of the documents which are generally assessed by lender. It is advisable Read More…

The Criteria for a Bad Credit Car Loan
Sunday, September 23rd, 2012

A bad credit car loan can improve your credit score.Before you jump into any financial commitment you should always know what the requirements are and a bad credit car loan is certainly no different. Before we get into explaining what the lenders are looking for please understand that it’s just a term used to describe a credit score range and has nothing to do with you as a person or consumer. Generally speaking a bad credit car loan would would have a credit score below 650 based on current lending guidelines. Also please understand it is just as easy to buy a new car as it is a used car. In fact there are manufacturer rebates and dealer cash that can be used as down payment.

The information below is an excellent all around guide for what you can expect.

Get A Car Loan With Bad Credit

The first of these conditions is that your income, and this only applies for regular employees, should be at least $1800. This amount should be the monthly gross income, which is your income total before any deductions. Your gross monthly income and not your net income is what lenders consider, because lenders want to be sure that the vehicle repayment plus its insurance coverage is affordable to you in addition to your other bills.

When it comes to bankruptcies, lenders insist on discharging all Chapter seven bankruptcies, though some lenders give consideration if your 341 meeting has been finished. Make sure you check the lenders in your state as the rates in particular to fluctuate based on state laws. You will have to pay a higher interest at least for about 18 months to 2 years so you can then refinance at a much lower rate. 

Here’s an example below of a local car dealer in Harrisonville MO that offers financing for a car loan with bad credit. Dealers have access to far more lenders who specialize in this area so it is important to check with your local car dealer.

Bad Credit? Get a New Car Loan at Jim Falk Motors – Harrisonville MO
Are you looking for a dependable car but have poor credit? Not sure where to go? Let us help! Before you go to a buy-here-pay-here dealership and get a high mileage vehicle with a high interest rate, educate yourself and … 

You can see how things vary from the more national view of the first article above and down to a more local level with a new car dealer. To ensure you end up with the right dealer just give them a call and ask to speak to the special finance manager. Let them know that you are considering visiting their dealership to possibly buy a car, this will allow you to ask questions about numbers of programs they have to offer.

Now I have a little treat for you. I happen to know this guy and he definitely has a different persona in person when he isn’t Reverend Rob. I hope you like it.

All is not lost and don’t take it personally when you hear getting financing for a bad credit car loan. It is an industry term referring to the lender process. Honestly there has not been a better time to buy in the last 5 years and there are more lenders now willing to finance a car for you than ever before. When you do decide to apply there’s no better way than using the Internet. Typically you can get approved the same day and actually ride home in your brand new car.

We work hard to try and bring you the most current information available for your situation. If this post has helped you or you just enjoyed reading it, thanks Reverend Rob, please share it with your friends and family through our links below.

Great News for Bad Credit Auto Loans
Friday, September 21st, 2012

If you happen to be in the 73% of Americans who require bad credit auto loans to purchase a new car, you will get some great news below. Auto Loans for Bad Credit are being Approved Again

There are hundreds of thousands of people all across the US who couldn’t get financing to buy a car during the last 4+ years and this information below confirms what we are already hearing across the country.

This new auto loan industry report applies both new and used car loans. So if you have been putting off buying a new or used car, the time is right!

 

Report Shows Auto Loan Industry Will Continue to Rise
Equifax and Moody’s Analytics joined together in a study of new U.S. consumer credit data from CreditForecast.com, and believe the auto market will continue its healthy rise throughout 2012, according to a press release. “After spending recent years in financial doldrums, U.S. consumers are poised to make a comeback in 2012,” said Equifax Chief Economist Amy Crews Cutts. “The most promise we have seen has primarily been within the consumer spending and auto financing sector.” Since the auto industry bailout, the nation’s largest car manufacturers have vastly improved. Auto loan originations have soared, and the delinquency rate is amongst the lowest when compared to other types of financing. Car loans have been demanded and been paid back with such efficiency that the average interest rate recently dropped to a four-year record low.  Equifax and Moody’s believe the 27 percent increase in demand for car loans demonstrates momentum that will yield positive results through 2012. Demand has grown because the auto industry continues to provide supply—something that’s grown more and more uncommon in the lending world. Foreclosure, default, lost jobs, and underemployment have all negatively impacted credit scores, but the auto loan industry sees those factors for what they really are: uncontrollable. As a result, they have relaxed their lending standards and ventured into the world of subprime lending, which hasn’t been seen since the real estate boom of the early 2000’s. By disregarding credit scores—or at least approving auto loans to those with lower-than-acceptable scores—the auto loan industry has successfully bolstered and propelled their market to the forefront of the lending world. 

Equifax and Moody’s are the best sources for what is really happening when it comes to auto loans. Now below you are going to find out about something that just might have you out looking for that new car tomorrow.

Auto Loan Down Payments with Bad Credit
Car buyers with less than perfect credit often view a down payment as either a stumbling block or a necessary evil. But the fact is that putting money down also has its advantages.  

Overall this is fantastic news. Not only are the banks aggressively buying but you have a lot more flexibility when it comes to down payment. Check it out below:

I personally know many people who weren’t able to buy a new car over the last 4 years so this couldn’t be better news for them. They will all be reading this new exciting information and I expect someone will be shopping for a new tomorrow.

If this information has been informative and helpful to you, please consider sharing with your friends and family using the buttons below.

 

What To Do If You Are Turned Down For Bad Credit Auto Loans
Friday, February 17th, 2012

If walking everywhere you need to go – or worse yet, bumming a ride, is getting to be a real “drag”, then you should consider applying for bad credit auto loans so that you can buy your own set of wheels. Getting approved for a bad credit auto loan is not as hard as you think, and most folks can qualify as long as they have sufficient income to pay the monthly payments. Keep in mind that most bad credit auto loans will cost more than auto loans for those folks with good credit, but that is due to the increased risk that the lender takes when dealing with a borrower who has less than perfect credit. To apply for a bad credit auto loan, a would-be borrower must submit to a credit application, provide proof of income and proof of residence, and fill out any paperwork required by the lender. Online lenders offer a streamlined application process that is simple to undergo and can be completed in just minutes.

Getting Top Rates On Auto Financing Online
Thursday, February 16th, 2012

Shopping for a car can be a lot of fun, especially if you have auto financing online in place. What’s more, auto financing pre-approval will make your haggling efforts on price a lot more effective, since, as they say, money talks! Getting the best rates on auto financing is easiest when you apply for credit online.  Online lenders are notoriously easy to deal with, and super forgiving when it comes to those with bad credit. If you have good credit, however, you can get some of the most competitive rates in the industry simply by going with an online lender.  To apply online, locate a lender that interests you.  Fill out their application for credit.  Wait a few seconds for approval.  Once you have approval in hand, you can shop at any car dealership or with any private vehicle seller that you wish.  Online lenders also allow for you to pay your payment online, which streamlines the payment process and makes repayment of your loan simple and easy.  

Types Of Bad Credit Auto Loans To Consider
Wednesday, February 15th, 2012

When applying for bad credit auto loans, there are two main types to consider. The first of these is a personal loan that is written out without any collateral on your behalf. Your word and the title to the car is used to guarantee the loan. The other type is a bad credit auto loan that is guaranteed not just by the car’s title and your word, but also by the signature of a creditworthy cosigner. This can be your parent, friend, sister, aunt, or anyone who trusts you and believes that you will repay the bad credit loan servicer for the money that is extended to you to buy the car. Not everyone is comfortable with cosigning a loan for someone with bad credit, which means that it is oftentimes hard to find a cosigner to go the loan with you. Nonetheless, if you can find someone who is willing to cosign for you, then you can enjoy a lower rate of interest than you would with just a basic bad credit auto loan.

Bad Credit Car Loans Following Bankruptcy Discharge
Monday, February 13th, 2012

If you have had a bankruptcy discharge in your past, you can still qualify for bad credit car loans that will allow you to own a new or used car, regardless of your previous financial troubles. Bankruptcy is one of the most detrimental acts that you can do when it comes to your credit file. After all, when you file bankruptcy and have your debts discharged, you are basically saying to your creditors that you don’t mind to abandon responsibility and leave them “holding the bag”. But some lenders are willing to overlook your bankruptcy and go ahead with a car loan that allows you to rebuild your credit. You may need a down payment with some lenders; others will not ask for one. The car stands as collateral, so you are able to get the car you need right away. It really is that simple to get a post-bankruptcy car loan from many bad credit loan service providers.

What Are No Credit Check Auto Loans?
Friday, February 10th, 2012

The no credit check auto loan is becoming popular among bad credit borrowers. As the name suggests, you don’t have to have great credit in order to qualify for this type of loan. These auto loans that are granted regardless of credit and without a credit inquiry are often written out by the actual car dealership that sells the car. Typically, all that you will need for an auto loan without a credit check is a valid form of identification (like your driver’s license) and proof of your income. Some major car dealerships offer these types of loans, but mostly it is the “buy here, pay here” type of car lot that will let you drive off with the car you want without checking your credit history. This can be a great way to put the bad credit driver behind the wheel of the car they need. On the downside, however, your credit performance on this type of auto loan is usually not reported to the credit bureaus, so this loan will not improve your credit ranking.

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