Car Loans For People With Bad Credit
In this dwindling economy, there are things we want and even need that seem so elusive. We strive to make ends meet, but it’s just too hard sometimes.
You could actually get approved for a car loan even if you have a low credit rating by making use of bad credit car lenders online that zero in on working with those who have credit scores as low as 480. Imagine that! For the most part, no down payment will be required just as long as the loan value of the vehicle is not far from the purchase price. To dodge being asked for a down payment, you must see to it that you’re getting a good price on the car that you’re eyeing.
The best thing about this kind of car lender is that you need not limit yourself to only picking the car of your choice from one car lot. As a matter of fact, you can buy your car from practically anywhere. This can even be done online, from shopping the local classifieds or at a dealer anywhere. This presents you a lot more opportunities as compared to going from car lot to car lot trying to get approved at a reasonable rate.
Majority of car dealers don’t have access to the best bad credit car lenders. This is because they can’t generate as much money selling a car to someone with a low credit rating as they would when they sell it to people who have good credit rating. Why, you may ask. Bad credit car lenders don’t agree on dealer fees and other things being added to the price of a car. They see to it that the amount you drive away owing on the car isn’t really that much more than what it’s really worth. This can actually benefit you, considering you’ll be prevented from making bad decisions.
Categories: Loan Articles Tags: approved, Bad Credit, car lenders, car loans, dealer, loan
Bad Credit Car Lenders
We all have our dreams. Some dream to be working in a prestigious company, some dream to have every high-end gadget available in the market, and others dream of owning a car. However, a dream could be just a dream for some reason. That’s not always the case, though.
Even if you have a credit score lower than 480, there are still bad credit car lenders out there that can help you. You will no longer have to give down payment given that the loan value of the car of your choice is somewhere near the purchase price. To be able to take advantage of this, see to it that you’re getting a good price on the car that you’re eying.
One great thing about this type of lender is that you have a lot of choices with cars. Also, you can do this in many different places. There are different ways you can avail of this, too. It could be online, or a physical dealer. A lot of opportunities are available for you to grab. You no longer need to go from car lot to car lot trying to get approved at a reasonable rate.
However, majority of the car dealers don’t have access to the best bad credit car lenders. The reason for this is because they don’t get a sizeable amount of profit through selling a car to a person who has a poor credit rating as compared to one that has a good credit standing. Why, you may ask. This is because bad credit car lenders don’t allow dealer fees and related stuff to be added to the car’s price. They prefer that the amount you will be driving away owing on the car will not be too much beyond its true price. This will be a benefit on your part, considering you’ll dodge making a poor decision.
Categories: Loan Articles Tags: auto loan, Bad Credit, car lender, car lenders, dealer, give, poor
Q&A: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Question by SimplyHappy: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Would I have to get the bank loan first then pay the dealer?
Best answer:
Answer by Jay P
You have the right to have a car financed through whatever bank you chose. It is always a good idea to find the lowest rate you can find and then go to the dealer. The dealer may be able to beat that rate but you never know. Should you go with another bank, they will either cut a check directly to the dealer or write you a check. Either way works fine.
Know better? Leave your own answer in the comments!