Yes, you really can get bad credit auto loans
New cars are exciting, but when you have bad credit the prospect of buying one can be daunting, to say the least. In today’s economic climate, bad credit is fast becoming the norm. But the fact remains that for most people cars are necessities. Having less than perfect credit doesn’t mean that you can never borrow money, although it may mean that you won’t be able to get as favorable an interest rate as someone with good credit. That said, having bad credit does not mean that you have to be taken to the cleaners when it comes time to get an auto loan. At Car Deal Expert, we have a network of reputable lenders specializing in auto loans for people who have bad credit.
We’ll help you find auto loans for bad credit and no credit, too
No matter what kind of credit history you have, your chances of getting an auto loan are best at Car Deal Expert. When you apply, we do everything we can to match you with a lender offering loans to suit your requirements on the most competitive terms available. For some people, when it comes to borrowing money, the problem isn’t bad credit but lack of credit. If you’re thinking of buying a car but haven’t established credit by buying a house or using credit cards, your chances of finding a low-interest car loan are best when you apply at Car Deal Expert.
Everyone who has a credit history started somewhere, and many of them got started by borrowing money to buy a car. Don’t let bad credit or lack of credit prevent you from buying the car you need. Many times, the biggest obstacle for people with bad credit or no credit is fear of the unknown. At Car Deal Expert, you can apply without obligation for a loan pre-approval without leaving your home or office. Chances are you’ll be pleasantly surprised. In the unlikely event that you are unable to qualify for a loan, you’re the only one who’ll know. The online application process is completely private and confidential. If you need to buy a car, get started by finding out what’s available to you at Car Deal Expert.
Car Dealerships don’t usually have good auto loans for bad credit
Most car dealerships offer financing from just one or two lenders, and no matter what kind of credit you have, these lenders generally don’t have the most favorable interest rates available. Dealers make money by marking up financing rates, so it’s important to shop carefully for a loan rather than sign up for whatever the dealer offers. Comparing loans can be tedious and boring, not to mention time-consuming, compared to shopping for a car. So why not let Car Deal Expert do the loan shopping for you? It takes just a few minutes to apply, and once you’re preapproved for an online loan, you’ll have much stronger bargaining power when it comes time to negotiate about price with a dealer. At Car Deal Expert, we don’t mark-up interest rates. You work directly with the lender. Our only goal is to find you the most favorable loan available.
Auto loans for people with bad credit are easy to get
The basic requirements for a bad credit loan are that you be of legal age with a valid social security number and meet a few minimum requirements which vary somewhat from lender to lender. All lenders will have minimum income requirements, which are typically $1500 per month, but are sometimes as low as $800 per month. Generally, you must have worked for your present employer for at least six months, although some lenders may accept shorter employment durations depending on the circumstances. Past bankruptcies are frequently acceptable, but you must not have a bankruptcy case currently pending. Even a previous automobile foreclosure is generally acceptable, provided it occurred more than 12 months prior to your application.
We help people find good auto loans with bad credit
Most people are pleasantly surprised at how easy it is to qualify for a bad credit loan at Car Deal Expert. If you have bad credit and you’re in the market for a car, find out whether you can get a loan by applying at Car Deal Expert. Not only will you find out whether you can qualify, you’ll find out how low an interest rate you can get based on your individual credit situation.
Get an auto loan for bad credit before you go car shopping
The few minutes it takes to get an online loan pre-approval at Car Deal Expert can save you a lot of money when it comes to paying for a car. Once you’re preapproved, you’ll know exactly how much you can spend, and salespeople will be much less motivated to get you to overspend on a more expensive model. Arm yourself with an online loan pre-approval, and a dealer will know that you’re a serious buyer and you’ll find it easier to negotiate a good price on the car you want
Remember, a good loan involves more than a low monthly payment
When it comes to considering the financing offered by a dealer, remember that lower monthly payment is not necessarily the bottom line when it comes to saving money. The best car loan will provide an affordable payment, but it won’t stretch the loan out over an extra-long term. When you compare your online approval from Car Deal Expert to dealer financing, check the numbers on the dealer’s Truth-In-Lending statement. Remember that a lower monthly payment can be the result of a higher interest rate stretched out over a longer term, which can cost you hundreds or even thousands more in the long run.
Get auto bad credit loan pre-approval before you shop and then compare numbers
Look at the APR on the dealer’s Truth-In-Lending disclosure, not just the interest rate on your loan documents. And look at the total of loan payments, not just the monthly payment amount. Be smart: To get the best deal possible, apply first at Car Deal Expert, and then take your online pre-approval to the dealer and compare the numbers.