As cars are becoming a necessity for us, the importance of auto loans is rising. When someone applies for a car loan, it’s obvious that he has no ready cash for buying the car. This means making a down payment also becomes difficult. The good news is that you can avoid money down by opting for no down payment car loans. This car financing program is perfect for everyone including people with bad credit.
Is it Possible to get No Money Down Auto Financing with Bad Credit?
Yes. You can easily get approved for no money down car loans for bad credit. All you need to do is ensure the lender of his financial investments. If he considers you a less risky credit borrower, instant approval and guaranteed low rates will be a reality for you.
How to get Guaranteed Approval on No Down Payment Auto Loans for Bad Credit?
These tips will help you get easy approval no down car loans. Bad credit will cease to be a problem when you follow these suggestions. Try and use the maximum of them to enjoy low rates and lower car loan cost.
A co-signer lowers the risk factor. It is because the lender knows that he can recover his money if you stop making payments. So, start your search for a co-signer today.
Having sufficient income to pay-off car loan is one of the important criteria. You can show your pay-stubs or tax returns as income proof. This way lender will be sure of your regular income and also, regular payments.
Choosing an inexpensive car means reducing your car loan amount. And with the reduction in loan amount, lender’s risk also reduces. This way your approval chances become brighter.
Trade-Ins and Rebates
You can avoid down payment by trading your old car. Ask the dealer to deduct the value of your old car from the car loan amount and forget putting money down. You can also make use of rebates for the same purpose.
Shorter Loan Term
If you opt for a shorter loan term, it means you will be able to pay-off the loan before the end of useful car life. This is perfect for everyone because the risk of upside down car loans reduces substantially.
Choosing the Lender
You certainly don’t want to waste your time in applying with lenders who won’t offer you loans. So, start your research for lenders who offer no down car financing programs to individuals with bad credit ratings.
You can make use of internet for searching sub-prime lenders. They work with bad credit borrowers and have no trouble in providing car loans without down payment.
You can select a reputed online car financing company for loans. They have a huge network of lenders and dealers which makes it easy for them to guarantee quick approval on no money down auto loans for bad credit. Don’t forget to check the reputation of the lender/auto financing company before filling the application form.
All these tips will definitely help you in securing no down payment auto loans. When you follow them, it will make your car loan application stronger and lenders will be compelled to look beyond your credit score. So, don’t forget them during the car financing process.
Rapidcarloans.net offers affordable auto loans for bad credit borrowers. People with bad credit score can enjoy no money down car loans by applying on the secure website. Apply now to enjoy low rates and 100% free car loan quotes.
Categories: Services Offered Tags: auto loans, Bad Credit, Car Loan, co-signer, down payment, Guaranteed Approval, income proof, loan term, low rates, money down, new car, online financing, rebate, subprime lenders, trade-in, Used car
A car is every man’s need and every woman’s style.
Anyone who lives in America knows the importance of automobiles. Car loans are necessary for buying new cars or used cars. Most Americans often have a misconception that bad credit score can ruin their chances of getting guaranteed approval on car loans. But, the reality is something else. Getting guaranteed approval on car loans is easy even when you have poor credit. You just need to know how to reduce the lender’s risk and increase his faith in you.
Know your Financial Affordability
Buying a car is a big decision and you must be very sure of it before signing the contract. You must understand that auto buying process involves several costs. You will have to incur expenses like taxes, DMV registration fees, insurance, fuel charges, repairs and maintenance, etc. If you are financially ready for paying all these expenditures, only then opt for buying a car. Otherwise, you will end up harming your credibility and your credit score to a further extent.
Clean up Your Credit Report
Reviewing your credit history is extremely necessary before applying for any loan. When you have bad credit score, it becomes all the more important.
You must review your credit report for any discrepancy and unwarranted transactions. If there have been any unauthorized inquiries, you must immediately report it to the credit bureaus with valid proofs. Also, try and pay-off few debts. Both these actions will help in improving your credit score.
Go for Reliable yet Cheap Car
When you have bad credit, it is best to build your credit score by opting for a car loan with lower amount. If you go for extravagance, you may have to face tough time in paying off the loan.
Choose a car that satisfies your needs. If you have to travel longer distances, go for a fuel-efficient car. If you have a band, then a huge car with enough space for musical instruments is required.
So, take some time for thinking about the purpose of your car.
Co-Signing can Help
A bad credit score means lenders have less trust in you. They may shy away from you by looking at your credit report. But, you can get guaranteed approval by asking someone to co-sign your car loan contract.
Remember that not everyone can co-sign. It is essential that your co-signer has a good credit score and a decent debt to income ratio.
Down Payment is Another Factor
Down payment can be best used to combat bad credit score. Make a down payment in the range of 10%-20% of the car cost. By doing so, lenders will know that you are financially capable of handling payments. The logic is simple. When you can pay such a large amount, smaller monthly payments won’t be any problem for you.
Research for the Best Lender
Not every lender in your area will offer bad credit auto loans. Only subprime lenders offer car financing programs to people with bad credit. So, you must do a thorough research before applying with lenders.
Online car financing can serve you best in getting a bad credit car loan. These companies work with several subprime lenders which makes it easy to get guaranteed approval. Also, you can expect quick results because the entire process is online.
Once you are assured of company’s reputation, apply and get approved for affordable bad credit car loans.
Don’t take a hasty decision in choosing your car loan. You must spend time on every aspect of the auto loan process because it will have a major impact on your credit score. Improving your credit score can be possible only when you choose the right car loan for you.
Rapid Car Loans provides low rate car loans for bad credit holder to people with bad credit. You can fill the low rate auto loans application on our secure website and get guaranteed approval. Apply now to enjoy simple approval process and free auto loan quotes.
All the best!
It’s great to live in a city that has been chosen as the No.1 Best Big City in “Best Places to Live” by Money Magazine. The award speaks about the facilities that one can enjoy in Colorado Springs. You can make living in Colorado Springs even more pleasurable by driving your very own car.
When it comes to cars, car loans are important. But, do you think your bad credit will make it impossible to get guaranteed approval on car loans? You are worrying for wrong reasons because you can get a car with bad credit. Here’s how you can convert your slim chances of getting a Colorado Springs bad credit car loan to instant approval.
Wrong: Filling Applications Right Away
You must never fill the car loan application as soon as you feel the need of getting car finance. Actually, there are several things that you need to do before applying. We can divide every task related to getting guaranteed approval on bad credit car loans into Pre-application tasks and Post application tasks.
Know Your Credit Score/Payment History
No matter the type of loan, every lender will want to know how you pay your debts. He will judge the credit risk associated with you by understanding your credit report and payment history. So, it is important to know it and improve it beforehand.
We know that credit bureaus mess up credit reports. So, get your free annual copy from Annualcreditreport.com. Analyze the entries and look for erroneous transactions. Under the Federal Law, you can easily remove wrong entries from your report if the credit bureaus cannot prove its precision. Removing wrong entries can definitely improve your credit score and place you in a better place than before.
Set Your Budget
Cars are expensive and if you don’t calculate your budget, you may end up paying more. When it comes to making huge commitments like car loans, you must know your affordability. It will help you avoid an unmanageable Colorado Spring auto financing program.
Calculate your budget by considering the car loan term. If you want to opt for a longer term, estimate expenses of certain future events like wedding, college expenses, home loans, etc.
Save Money for Down Payment
Down payment is important for lenders. If you can put a huge sum as money down, it shows your financial strength. The lender will consider you as a low risk credit borrower. It will also reduce your car loan amount.
But, we all know that getting even 10% of the car cost can be very difficult. So, start saving money for down payment from now.
Search for a Co-Signer
Your bad credit score takes a back seat when your lenders see a co-signer. Someone with a good credit score and decent debt-to-income ratio can work magic for your Colorado Springs car loans in Colorado. Finding a co-signer may take time and that’s why it’s better to start the job now.
Check Your Documents
When you have had financial issues in the past, the lender will be more interested in your income proof. Keep your current pay stubs and/or tax return statements ready. You can even ask your employer to provide an Employment Certificate. Arrange all your utility bills receipts because they can be used by the lender to ascertain your debt repaying ability.
Search for Subprime Lenders
When you have bad credit score, apply with lenders that have copious amount of experience in dealing with credit issues. Your approval chances will improve when you apply with lender that offers Colorado Springs bad credit car loans in Colorado. Also, you save time by avoiding stringent banks and other traditional financial institutions.
Make use of the internet to search for online auto financing that offer affordable car financing options. Most companies have a history of working with bad credit borrowers. So, don’t forget to consider them.
POST APPLICATION TASKS
Analyze and Compare Car Loan Quotes
When you apply with several lenders, you will receive many bad credit auto loan quotes. Analyze and compare each of them on factors like interest rates, monthly payments, APR, down payment, etc. Also, consider other aspects of the Colorado Springs car loan programs like loan term, conditions, fees and penalty.
Negotiate with the Lender
As you choose few auto loan quotes, make sure you negotiate with the lenders. Sign the bad credit car loan contract with only that lender who negotiates and offers you a better deal.
Choose a Reliable Car among the Alternatives
It’s always better to choose a car after securing the car loan because lenders may ask you to choose the car from a pre-decided dealer/s. They may even give you a pre-approved budget. So, select the car later and avoid any wastage of time and energy.
Don’t forget to get the car inspected from your trusted mechanic. It’s important to check the car title and Vehicle History Report because once you sign the papers; you cannot do much.
So, that’s how you can buy a car in Colorado Springs. Once you buy the car, keep making regular payments so that it improves your credit score.
If you follow these tips, getting a car loan and making payments won’t be difficult for you.
Wishing you instant approval on your bad credit car loan!
Rapidcarloans.net is known for offering instant approval car loans Colorado. Our lender-dealer network helps car buyers secure Colorado Springs auto loans irrespective of their credit history. We offer no down payment auto loans which means your car loan process is pleasurable with us. Apply now!
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A car’s basic purpose is to take you places. The lender shouldn’t mind if it is purchased from a dealer or a private party. Here’s your gold mine of information to help you get approved for private party auto loans. Get the best tips to buy your dream car.
Categories: Services Offered Tags: auto loans, buying a car, Car Loans, co-signer, dealership financing, down payment, easy, Guaranteed Approval, lenders, licensed car dealer, online application, person to person car, private party, private seller
Are you finding it almost impossible to get the auto loan you are looking for? Are you disappointed because you do not have enough money? Are you simply baffled and confused and dread the idea of applying for auto loan? Look for guaranteed car loans which may actually solve your problem.
Though getting a loan may seem an uphill task, it may not be so difficult once you know the tricks to the trade. Try going with the flow and consider the following suggestions as tips.
Credit scores: Before you start thinking of taking out an auto loan, know your credit scores accurately. Try to seek help from credit bureaus or from professional if you are unable to understand the scores. Do not be ashamed if you have poor credit scores. Do not try to cover them up. Doing so may jeopardize your chance of getting the loan. Just face up the fact that you had made some wrong decisions and it is time to make amends.
Application: When you are making applications, it may involve many formalities and documentation work. Hence it is better to keep all your financial reports ready. You may feel it to be a lot of hassle. But do not lose your patience. Keep your calmness and go through the procedure one after the other. However, it is a lot easier if you try online application. Browse through Internet and you will come across a number of lenders willing to help you out. Go through their terms and conditions and then apply.
Security: Auto loans are also easy to get if you have additional collateral. Show the lender that you have asset to support which may be house, boat, farm, second car, etc. Even when you are bankrupt, you may have stable source of income and it will actually help your standing in front of the lenders.
Choice of a car: An auto loan may be one of the best ways to purchase the dream car. When you are making your choice, there are two major things that you have to look for. One the price of the car should be well within your payment capacity. And two the value of the car should not be depreciating more than your payment ability. These two are important because if you choose a car of very high price range, then you apply for a high amount of loan. For high amount of loan, the rates of interest charged will be high if you cannot pay substantial down payments. Then the monthly payments you will have to pay will be higher and may lead to defaults. And defaults will take your credit ratings further down. Again, if you choose a car whose wear and tear is more than your payments, then you are entering into a deal which may lead to upside down on car. It is so because by the time you pay off the loan, the car will be no more than the scrap value and then your loan amount exceeds your car value which creates a negative equity.
If you understand the importance of these factors in getting a car loan, it might not be that difficult for you to get that auto loan.
Categories: Services Offered Tags: application, apply online, auto loans, bankruptcy, chance, choice of a car, collateral, cosigner, credit bureaus, credit scores, financing reports, Guaranteed Approval, income source, internet, monthly payments, negative equity, search, security
America is all about speed. Our fast lives and faster cars are a manifestation of our culture. Well, cars have been an important part of this great nation. It is the best way to explore the world-famous cities of America. When it comes to the Beaver State, roads are definitely the most accessible option. Cruising on I-5, you can travel to the state of California. Several State Highways also allow efficient road travel within Oregon.
Many Oregonians have spent their life-savings to get their prefect cars. But, this dream shatters when your car is more in the garage than on the road. Your car dream is brutally mortified when you discover that your car is a lemon.
You can re-live your dream with the help of Oregon Lemon Law which was passed in 1983. This law gives you the right to get a new vehicle or a refund of your car. It has become stronger after the 2009 amendment.
Before you go to the dealer and ask for a refund/replacement, let’s understand the State Lemon Law in detail.
In order to claim under “Lemon Law”, you must fulfill the following four requirements:
1) Your car must be purchased on or after January 1, 1984. Initially the law covered only those vehicles which were purchased in Oregon. However, things have changed now.
2) It doesn’t matter if you are the original owner or a subsequent one, it is important that you purchased the car during express warranty period.
3) Your car must be a “lemon”. The Oregon Lemon Law considers it lemon if your car fulfills any of the below mentioned criteria -
i) The manufacturer, its agents, its authorized dealers were unable to repair the same defect even after three attempts.
ii) The car is being repaired for more than 30 days.
iii) There is a serious non-conformity which can cause death or grave injuries to the passengers.
You must understand that the law will not cover any problem if it’s related to abuse or neglect of the car. You won’t be covered under the law if you carried out some unauthorized alterations.
It is also essential that you notify the problem to the manufacturer within two years or 24,000 miles of purchase (whichever comes first). Before the 2009 amendment, the limit was one year and 12,000 miles.
4) You are obligated to participate in a third-party arbitration program if the manufacturer notifies you about it. The court can award you thrice the amount of damages (not to exceed $ 50,000). This is possible only when the court agrees that the manufacturer acted in bad faith during the arbitration.
If you meet the criteria, you will get a replacement or refund. It will be decided by the manufacturer. The refund will cover the full purchase price including collateral charges such as taxes, registration fees, loan charges, pre-payment penalties and cost of few dealer-installed products. However, he will deduct reasonable allowance for using the car.
How Can You Prove Your Case?
You must have a strong case to fight against the legal team of the manufacturer. Here are few tips to help you with it.
In order to have a fool-proof case, you need to have copies of the following:
i) Repair Invoices and Routine Maintenance Invoices
ii) Purchase Contract
iv) Registration Document
Words Stay For Ever
It is essential that you maintain a logbook. Write down every single detail in it. Along with the repair and maintenance orders, keep a record of letters that you send to the manufacturer or dealer.
Mention every communication with accurate date, time, name and phone number of the person you spoke with.
Note every date and time when the car gave you problem. Also, write the dates when your car wasn’t in a working condition or was in the repair shop. Don’t forget to write the “mileage in” and “mileage out” when you send the car for repair.
The logbook will ensure that you remember everything and will be useful in proving your point to the manufacturer.
Precaution in the Beginning Means a Happy Ending
For New Cars
The State has enacted a strong law to protect your rights but a court case is often time-consuming. So, make sure you don’t buy a lemon.
Whenever you set out to buy a new car, do a thorough research. Read articles on web. Car experts give reviews on all car models. By researching, you will know the pros and cons of the car.
You must also check the auto recall lists. If the vehicle model was recalled for a defect, there is no point in buying it.
For Used Cars
The Oldest Trick in the Book
Odometer tampering continues to be a major problem. The National Highway Traffic Safety Administration website mentions that more than 4,50,000 vehicles are sold each year with odometer rollbacks. It also stated that the false readings cost more than $1 billion dollars annually.
You can avoid the fraud by checking the vehicle’s history. It will give you information about accidents, theft, previous owners, etc.
You must know that a car tire can run approx for 60,000 miles. So if the odometer reads 18,000 miles but the tires seem old and worn out, it’s time to say good bye to that car. Also check the engine and car interiors. Service reminder stickers, warranty cards, etc. will give you an idea about the actual readings.
What Does The Title Say?
According to the 2009 amendment (SB 515), the DMV now requires the manufacturer to add “Lemon Law Buyback” to the title and vehicle record when he repurchases the car. This means you will know if the dealer is trying to sell a lemon.
Avoid Flood-Damaged Cars
Inspect the vehicle for flood damage. Check for dirt and rust in the trunk. Also, a flooded vehicle mostly has moisture in headlight and tail light assembly.
In an “as is” agreement, the dealer doesn’t provide any warranty. All that you have is the manufacturer warranty, only if it hasn’t expired. Buying an “as is” car means the dealer won’t take responsibility if it ceases to work. Avoid such cars.
So, this is how you can save yourself from a lemon. If you have made a mistake of buying a lemon, take help of the Oregon State Lemon Law. If you are going to buy a car, make sure you stay away from the “sour” experience.
Be alert to truly enjoy the “sweetness” of driving your dream car!
When you buy a car, you try hard to save yourself from a “sour” experience. But, it can become “bitter” by highly unaffordable auto loans. Apply online on RapidCarLoans.Net for auto loans in Oregon and avail the most competitive car financing options. Apply and enjoy a “sweet” car buying experience.
Mainly young people and limited wage earner face difficulty in buying a new car for the reason sky rocketing prices of new cars. So they do not want to use their whole savings to buy just one high prized car. At such circumstances used car loan is best option for purchasing a used car. Because now a days used cars are as attractive as the new ones and so you can get used car loans at very competitive rates as the cars seized from defaulters are as good as new. There are many such used cars to be found that are just a year or two old. These cars possess more or less the same features as a new car. The various types of used car loan which can be found in the market are mentioned below.
Generally there are two types of used car loans one is secured and another is unsecured. In a secured used car loans you can get competitive interest rates. And any type of asset or bank paper containing certain value can be used as collateral for the used vehicle loan amounts. You can use the vehicle itself as collateral for a used vehicle financing. In secured car finance you can borrow up to the amount of equity in collateral.
Another is an unsecured used vehicle loan which is generally targeted for all those who are not willing to place collateral. An unsecured used vehicle loans carry’s no risk to assets since assets are not involved. The factors like your credit score, credit history, financial situation, employment proofs and income proof are taken into consideration when determining the interest rate of a unsecured used vehicle loan. Many lenders offer low interest rate used car loans. Regardless of your credit history, you can get approved for a low interest auto loan as the financing based on your qualifications. As the online lenders have thousands of lenders in their network, so that gives you an opportunity to compare lenders deals which will helps you to find the best rates. Thus you can also select terms that give you the most favorable loan financing.
It’s a well known fact, that person with a good credit score is always offered with a great offer and competitive rates. But now a days lender also offer bad credit car loans with the best rates on used car to individuals with poor credit. Unlike dealerships that offer excessive rates, the online lenders have a reputation for approving loans with fair rates. The objective is not to make profit out off someone’s misfortune, rather to help people to buy their dream car. Pre-approved used car loan is one of the best options to get you the best deal on a used car loan by getting your finance deal done before you buy a car. Pre-approved loans gives you the most options on deciding how much you want to borrow and what rates to accept. Thus it gives you an edge when buying a car.
Another concept which is more popular among the auto loans field is refinancing. People end up getting high interest rate when they have bad credit but when their credit gets improved, they still end up paying high rates. At times refinancing used cars can get car credit at low rate. Refinancing used car loans can immediately put an end to your monetary troubles that come with high interest car loans. Through used car loan refinancing, you would able to obtain a new loan including a lower rate of interest, in place of your current high interest rate loan.
Used car loans are very easy to get online by comparing various car loan quotes. Comparing online car loans facilitate in obtaining the best auto loan in the market. So, don’t wait and go get yourself a used vehicle loan to get you the car of your dreams.