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Car Loan and Bad Credit History Reviews

There’s nothing more frustrating than when you need a car loan and bad credit history reviews stop the approval process. Here at AutoLoans.us we have great news that you can actually get online car loan with bad credit. We have put together some very helpful advice and tips related to auto loans online bad credit financing.

 Bad Credit Lenders and Car Loans with a Low Credit Score

Car loan and bad credit history reviews“3-4 years ago it got really bad. People even with pretty good credit, pretty good down payments were having a hard time. Banks just didn’t have the money to lend and they were really tight. But today, over the last year, it’s really opened up,” says owner Bill Robertson of Pasco’s Nissan Dealership.

Dealers also say many people just assume their credit is bad, so they don’t try to get financing. They say more people are checking their credit scores than in previous years.

~Low credit might not stop you from getting a car loan – KEPR 19

We hear this same story from hundreds of our customers every day. They don’t realize that actually bad credit car loans interest rates have never been better. Many consumers simply don’t so they don’t know if they have a low credit score or a good credit score. You are entitled to a free credit report once at year. Yes that’s right free as in no costs to you.

 

Bad Credit Auto Loans Cosigner Lowers Interest Rates

The article explains the value of a cosigner: “…having a cosigner on bad credit auto loans can be the difference between driving off the lot in the vehicle of your dreams, and grabbing the bus home in a continuous vehicle-less nightmare. Lenders like to stake their auto loaning bets on the firm foundation of an excellent credit report. Put simply, a qualified cosigner can provide that foundation for them to make that decision.” Lower interest rates and increased accountability are both benefits of cosigning

~Complete Auto Loans Releases Three Benefits of Cosigning for Bad Credit Auto … – PR Web (press release)

Getting financing for bad credit auto loans will be a lot easier if you have a well qualified cosigner. The best choice for a cosigner is a close family member or relative. Providing your dealer or lender with a solid cosigner can save you thousands of dollars in interest. It is important to understand that if you don’t make your car payments on time the person who signed with you will be expected to repay the loan.

 

car loans bad credit history bankruptcyCar Loans and Bad Credit History – Bankruptcy

Filing for a Chapter 7 bankruptcy involves liquidating the debtor’s assets and distributing any proceeds to the unsecured creditors. This type of bankruptcy is typically completed in a matter of months and can only be done every 8 years.

Filing a Chapter 13 bankruptcy involves establishing a payment schedule that must be followed to successfully complete the bankruptcy – a process that normally takes either three or five years.

Since a Chapter 7 is over fairly quickly while a Chapter 13 takes much longer, there are different rules for each type.

~Get a Car Loan during Bankruptcy – Auto Credit Express (blog)

Bankruptcy auto loans have never been easier. For the first time ever it is possible to get a car loan with bad credit even before the bankruptcy is discharged. This is true in all but about 6 or 7 states. Even some car dealers aren’t aware of this. If you have filed a Chapter 7 Bankruptcy and you have completed the hearing of creditors commonly referred to as the 341 hearing, you are practically guaranteed a new or used car loan. Only in the last year has this changed. Previously you had to wait until you actually had the discharge papers in hand before any lender would even consider approving a loan.

There’s certainly a lot of helpful tips and advice above about car loans bad credit reviews and the process. If you would like more information just click here

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