guaranteed bad credit auto financing
Guaranteed bad credit car loans are available through a few sources. You will not get approved however, if you are currently in a bankruptcy. This article will help you to understand bad credit auto loans and points you in the right direction to getting behind the wheel without getting ripped off.
For years, getting second chance auto finance meant that you had to walk into a dealership, fill out a credit application and sit in front of a finance manager that reminded you of every single blemish on your credit report before finally telling you that you can only get approved on certain cars and that your interest rate will be over 15%.
Not anymore.
With so many Americans having credit problems, lenders are lowering credit standards more and more to fill the need that so many people have. Bad credit is no longer a taboo as bankruptcies and foreclosures are so common these days. Lenders are available for you and have money to lend.
It’s simply a matter of looking in the right places.
Did you know that car dealerships are not the easiest place to get approved if you have bad credit? Guaranteed bad credit auto loans are usually not available through car dealerships and only available if you work with a lender that specializes in them, directly.
Why?
Dealerships mark up interest rates. That’s right. If they do get an approval from one of the lenders that they deal with, they’ll add two or more percentage points to the interest rate. The dealer then gets a commission check from the loan company. This results in higher payments for you. It’s best to get your own financing, away from the dealership so you can focus on the price of the car, rather than the financing.
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See what’s available for you at this recommended source and see if there is a lender that will offer you a no money down bad credit car loan.
You can also apply at this recommended source for a 45 second hassle free approval online.
Article Source: ArticlesBase.com – Guaranteed Bad Credit Car Loans Online
