Posts Tagged ‘poor credit car loan’

How to Get Easy Approval on Poor Credit Used Car Loans?

Smart auto buyers shop for used cars. It is because their value doesn’t depreciate quickly. Don’t think used vehicles have passed their sell-by date. Many used cars that are available in the market are in a really good condition. And, with the introduction of certified pre-owned cars, used cars are as good as brand new cars.

Buying a used car becomes all the more important if you have poor credit history. Lenders often deny new car loan applications of poor credit auto buyers. But, as a used is cheaper, they don’t have much problem in offering Poor credit used car loans.

Most poor credit car buyers worry about getting approval on car financing program. If you are feeling jittery about your car loan request, don’t worry. This article has been written specially for poor credit auto buyers who are interested in used car loans. Understand what factors will get you stress-free approval and fulfill your car dream easily. Let’s begin.

Boring but Beneficial

There are few things which are crucial for getting approval on used car loans. Even though they may seem dull and uninteresting, these factors ensure trouble-free approval process.

A. Budget

The most boring thing about every financing deal is the numbers. Most people avoid everything related to numbers and just apply for a car loan program. This is hazardous for a poor credit car buyer because you can end up with a bad deal. So, you must calculate your budget. You must ascertain a monthly payment amount which would be easy for you. Also, decide on a down payment amount. It may seem a mundane task but it will definitely help you in choosing a poor credit auto loan program that’s comfortable for you.

B. Crsedit Score

Even if most lenders and dealerships have informed you about your terrible credit score, you must find your current ratings. You will require your credit score while submitting the poor credit auto loan application form. Mentioning an incorrect credit score can lower your chances of approval. Also, there are chances that your credit score may have improved.

Make it a point to check your credit score before filling bad credit car loan application forms. You must also go through your credit report and work on removing errors from it.

C. Paperwork

Get together your documents. Most poor credit lenders want poor credit borrowers to have a regular income. They will ask for a proof of your income and employment. You can use your recent pay stubs for it. Also, Employment Verification Letter can be useful. Lenders want to know about payment behavior and that’s why; you will have to present your recent Utility Bills.

D. Co-Signer

Co-signers are a blessing for poor credit car buyers. Lenders are always happy to see a co-signer because co-signing lowers the risk factor. So, ask someone to co-sign your car loan contract because it will ensure easy approval.

Begin the Application Process for Poor Credit Used Car Loans

Now that you have a clear idea about your financial position, begin the car loan process. Apply only with sub-prime lenders who are experienced in providing poor credit auto loans. You can use the online mode for getting a poor credit used car loan. Internet provides extreme ease in completing the auto financing process. You can apply with several lenders without leaving your home. Also, you will receive approval via phone call which means online car loans ensure 100% comfort.

When you receive auto loan quotes, compare it with your budget. Choose the quote that will ensure easy loan pay-off. Don’t sign the auto financing program without understanding each and every term of it. Avoid car loan contracts with exorbitant fees and penalties.

Choosing the Car

Car selection should be in the end. This is because your lender may ask you to choose a car from a specific dealer only. So don’t choose a car before getting approved for such auto financing program.

While choosing the pre-owned automobile, ensure that it doesn’t have a Salvage Title. Check the Vehicle History Report and invite your trusted mechanic to inspect the car. Remember that most States don’t have a two-day cooling period on the sale of automobiles. This means you will have to keep the car even if it has problems. So, choose properly.

If you follow the tips mentioned in this article, you will be able to make an easy car purchase. Also, it will help you to make payment much more affordable. So, remember them and ensure a trouble-free used car shopping!

Be the first to comment - What do you think?  Posted by badcreditcarloans - August 31, 2013 at 5:09 am

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Poor Credit Car Loans – Learn the 4 Cs for Quick Approval

For some people, finding a poor credit car loan is harder than finding Waldo. Constant rejections and high rates dampen the spirits of poor credit car buyer. But, don’t think that your credit score will make it impossible to get auto loan approval.

With the recession, poor credit history has become very common. Today, lenders cannot ignore car borrowers with credit issues because they represent a huge market opportunity. So, don’t think that auto loans are not made for poor credit people.

To get quick approval on your poor credit car loan application, here are 4 Cs. Easy to remember and essential to follow, make sure that you work on them before starting your car loan quest.

Credit Score

Seeing is believing!

Never believe what others tell you about your credit score. Check it yourself before assuming any financial responsibility. By knowing your credit score, you can know the average rates that you will receive. This way you can stay away from lenders who offer exorbitant rates on bad credit car financing programs.

Also, don’t forget to analyze your credit report. Credit bureaus are infamous for making errors in credit reports. You certainly don’t want any erroneous entry to reduce your approval chances.


Even if you are getting a poor credit auto loan for your car, you need to know how much money you can direct towards monthly payments. You must remember that loan programs are good only when you can make on-time payments.

You must also consider down payment. Paying cash and reducing the loan amount can decrease your loan rates. Also, down payment will show your financial capacity to the lender. This will reduce the negative effect of your poor credit score.


Most people consider co-signing a pain. But, having a co-signer can actually improve your chances of getting poor credit car loans. A co-signer ensures the lender that his money is safe. So, it is important to convince someone to become your co-signer. It can be anyone with a good credit score and a debt-to-income ratio below 40%.


A vehicle provides convenience. It shouldn’t become a burden for you. Opt for a car by keeping your budget in mind. It is important for a poor credit car buyer to keep his car cost in control. If you opt for an expensive car model, your car loan will be higher. This will make monthly payments difficult for you. So, make sure that you choose an economical automobile.

So, these are the 4Cs which can help every poor credit car buyer. These factors have been designed after considering the car loan approval factors. If you take care of them, instant approval on poor credit auto loans will become totally stress-free.

Best of Luck!

Be the first to comment - What do you think?  Posted by badcreditcarloans - at 5:06 am

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What to do to Buy Bad Credit Car Loan

If you have become willing to apply the auto financing, then just get started form Internet. It is the right place to buy auto finance for any type of car. Car loans with bad credit are for the financially weak borrowers who are in no position to buy the car with cash down payments. Such stream of borrowers usually has to go through many stringent loan application procedures, provided if they choose to hire auto finance from the traditional loan market. Buy, in case the borrower has decided to buy from Internet, the borrower will be having all the advantages placed to his side. The biggest advantage is that when the borrower goes for poor credit car loans, his/her time and money is saved. Second, the interest rates offered are also low. Third, the loan application is easy to fill, and many a times the lender will himself fill the loan application on the behalf of borrower. The lender will then ask borrower to go through the loan application, attach a copy of credit score and also sign the loan application. Once all is done, the borrower will send the loan application back to auto finance lender. All of this will not take more than few minutes of the borrower.

If you are applying for the auto financing directly through the traditional means, then you can either visit a private lender, or any bank. But since, it is bad credit auto financing, most of banks and finance lending institutions will not be able to give the borrower the desired loan. Hence only private lenders will be the best option left in such a situation. There are many ways and all the more many places where you can shop for the auto financing. But the best option is to go for online car financing. Internet offers huge online car financing market and most of the websites offering the auto finance are genuine and authorized. Further, loan financing is available through certified financier who has experience in handling all types of auto financing. The auto finance lenders available online also provide discounts on shopping form their website. Make sure that you shop and compare with complete honesty. And why not, after all it is the question of buying a good car. Online car loans for bad credit are considered to be the fastest way of buying the loan. More and more borrowers, who do not have the time to buy traditional auto finance, consider buying it online. Check your credit score before you fix an online deal.

Be the first to comment - What do you think?  Posted by carmoneyfast - March 17, 2011 at 5:57 am

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Purchasing a Car Using Student Car Loans

Are you sick of using public transport for your college and school? Are you commuting using the public transport? Get help and get a car using student auto loans it’s a basic need for a student and save your precious time. We have helped many students like you get loans irrespective or their credit rating. Our bad credit car loan is designed especially to help student have a car at their disposal. They are no longer rushing around and wasting time and efforts, they have a smarter way to reach places.

Apply For Student Car Loan

We understand and appreciate the need and importance of own car in student’s busy schedule and hence offer college student car loans. We have simple online processes and you could easily apply and qualify. Being a student you may also be facing poor credit scores. No problems, you can apply for poor credit car loan that’s specially tailored to suite this profile of applicants. We are auto loan Specialist Company providing car loan solutions to suit every individual need and profile. Be it new car or used car we are able to finance. Financing a used car with bad credit is good option when one is struggling with poor credit and low income and money is consideration. By getting approved for a car loan you get the following benefits:

1.Have a car at your disposal.

2.Building credit score. Regular payment of loan improves or builds up the credit score and this improves the borrowing ability in the future.

No credit car loans or guaranteed auto loans is a great way to posses the car you need. The interest rates vary as per the credit rating. These are secured loans where the car is used as collateral and can be repossessed if you default. Student auto loans are a smart way to have the car you need and since these are tailor-made for students qualifying for one is easy and simple.

Be the first to comment - What do you think?  Posted by carmoneyfast - August 26, 2010 at 10:51 am

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