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Posts Tagged ‘Bad Credit’

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…

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.

 

The Many and Varied Types Of Bad Credit Car Loans

Thursday, December 22nd, 2011

Buying a car using a bad credit car loan is now the best option for any aspiring car owner. As it is, the prices of cars are somewhat too expensive for many people and thus the need for financial assistance in the quest to purchase a car. This assistance is often got through the car loans which have been availed by a number of lenders. There are only two major categories of auto finance, that is, business and personal finance. Read More…

The Procedure Of Getting Bad Credit Auto Loans

Friday, August 19th, 2011

Bad credit auto loans are not easy to get because they are only offered to a selected group of individuals and therefore you must know how they are offered and the basic rules and regulations even before you visit a nearby lender. You might also realize that different lenders have different terms and conditions so therefore you need to approach most of them and try getting the best of them all. You cannot always get to the first lender you approach and settle on negotiating a deal. You must try as much as you can to get the lender with favorable terms that you can easily meet. Read More…

Handling Auto Financing When You Have Bad Credit

Tuesday, August 16th, 2011

If you have bad credit and you require auto financing, you will need to handle the process properly. This is because you will encounter a lot of risks even though the opportunities are high. To ensure that you get all the things that are required to have a new car you need to look at a few things which are: Read More…

Get Auto Loans With Bad Credit

Friday, August 5th, 2011

Are you having trouble thinking of how to secure auto loans with your bad credit? Do not worry anymore. You are not alone because research shows that many individuals in the world today have bad credits owing to past financial mistakes. So stop blaming yourself for your present predicament. Obviously the circumstances posed by the current economic conditions can make one mess up. Therefore, instead of lamenting, do the following and see for yourself the success. Read More…

What Qualifies You For A Bad Credit Auto Loan?

Wednesday, July 6th, 2011

Having a bad credit is not a crime, it is just an indication that things do happen! Lenders understand this fact that is why you can now get a bad credit auto loan to help you buy your dream car. After all, whether your credit is perfect or imperfect should not deny you the pleasure of being behind the wheels. So, what do you need to qualify for this loan? Read More…

No Down Payment? Get A Bad Credit Auto Loan

Sunday, June 26th, 2011

Usually when people apply for auto loans, they are required to pay down a certain amount of money. This down payment could be too hefty for you and so you may end up losing the loan. Though the amount of money you pay down can increase your chances of securing the loan especially a bad credit auto loan, there are other ways by which you can get the same loan without the down payment. This could mean a higher interest rate charge, but if you cannot raise the amount instantly, why not pay the interest bit by bit?

First, you should confirm your actual credit rating. There could be a few errors in your credit report that make it look worse than it really is. If your score is reasonable, you will not have to bargain so much. You can as well be lucky to evade the down payment if you attach proof that you are employed with a good income.

Secondly, you should know the loan options you have for a bad credit auto loan. You can either pick the secured option or unsecured option. Secured loan options require the borrower to give his or her property as collateral until the loan is repaid. However, unsecured bad loans require a borrower to have a creditworthy co-signer who will remain liable till the loan is fully paid back. With the unsecured option you could go without down payment.

You could also choose to apply online rather than visiting car dealers and auto finance companies. Unlike the other sources, there are some online lenders who do not demand down payment.

Getting a bad credit auto loan is now possible without any down payment required. Search for the specific lenders with this offer but be ready for the high interest rates.

How To Increase Your Chances Of Securing Approval For Bad Credit Auto Loans

Tuesday, September 28th, 2010

If you are someone who needs a brand new set of wheels but does not have the funds to buy or finance the purchase of one, it is recommended that you should consider taking up an auto loan. Read More…

Bad Credit Auto Loan: Why It May Be A Good Idea

Thursday, September 23rd, 2010

The decision to get a bad credit auto loan can often time be confusing thanks to a myriad of lenders both offline and offline. The way to get around this confusion is to do some research into the various types of bad credit auto loan and whether or not you can really get them based on your financial situation. Read More…

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