Wednesday, May 26, 2010

How to get a car loan with bad credit?

I have really bad credit, however, I am more then able to make a car payment. It does not need to be anything fancy, but I live in the middle of nowhere. There are no cabs or busses or anything. Everything is at least 30 mins one way, banks, stores, etc. I need a car to live, however, i cannot find anyone who is willing to 'take a chance'. any ideas where I could find someone who will work with just awful credit?

How to get a car loan with bad credit?

Capital One auto finance might approve you, they gave my mom a loan when her score was only 520, thats LOW. You also might want to try calling local dealers and asking if they work with a bank called AmeriCredit. They specialize in bad credit auto loans, and allow you to buy a brand new car! The interest rate is going to be hideous either way, but as long as you make your payments on time you might be able to refinance later on with a lower rate. If all else fails look up a buy-here pay-here lot, they often don't check your credit and have you pay weekly, bi-weekly, or monthly payments that work with your pay schedule. They usually don't report to the credit bureas but its better than walking. You'll get a car, just look into it a little.

How to get a car loan with bad credit?

You can get bad credit car loan as either secured or unsecured. Secured bad credit car loan comes with the threefold benefit of low interest rate and increased repayment term and huge principal. But this type of loan requires you to offer your property as collateral. Your home is at risk if you fail to pay the monthly installment. But this is not permanent and holds true only if you miss or delay your repayment.

How to get a car loan with bad credit?

Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times,

I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

1 comment:

  1. Hi,

    I can see that you are putting a lot of efforts into your blog. Keep posting the good work. Some really helpful information in there. Nice to see your site.

    Thank You...!!

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