Buy a New Car With Bad Credit! It's Not As Hard As You Think

So you're like millions of other Americans. You've got credit problems.

Doesn't everybody these days?

Don't let that get you down. People with bad credit buy cars and yes, buy NEW cars everyday. In many cases, it's actually easier, yes, easier to buy a new car than a used car with bad credit. Although, you shouldn't expect to drive off in a new Lincoln Navigator.

Doesn't it make sense that a lender (loan company) would rather have a newer vehicle for loan collateral than an older one? That makes a lot of sense if you think about it. What matters is the purchase price. With so many rebates on new cars these days with the downed economy, it's possible to drive out in a new car for just a couple thousand dollars more than a two or three year old car of the same model.

Lenders that loan money to people with bad credit look at what they will end up with if you don't make your payments. It's better for them to have a newer vehicle that will sell better and for more money at auction than to have an older car. The lender also considers that the newer car is more likely to be maintained better, as all new vehicles come with a manufacturer's warranty! Is it starting to make sense now?

So why don't more people with bad credit go buying new cars?

They don't THINK they can. That's it. The truth is that if you have bad credit and want to buy a car, a moderately priced new car is just as within reach as an old junker.

Don't be fooled by greedy car salesman that tell you that a used car is all that you're going to get. They make more money on used cars which is why they try to put you in one. The most important tip I can give you is to leave the cars to the car dealers and the loans to the loan companies.

That's right.

You don't have to use a dealer finance department! You can get your loan approved (if you know where to go) and walk into a dealership with a check to buy whatever car you want (up to an approved amount). Don't settle for less than you deserve.

Buy a Car With Fair Credit - Auto Loan Financing Online

A fair credit rating usually consists of a mix of good and bad accounts. Late payments, medical collections and other blemishes on your credit report without any major disasters, is usually referred to as a "fair rating". This can lead to difficulty when applying for a good auto loan rate.

The type of lender that you use makes a big difference when getting approved for more reasonable interest rates and payment terms. Major banks and financial institutions are becoming more strict about minimum credit score requirements for auto loans. Depending on what is on your individual report, you may not be able to get approved at all with one of the mainstream lenders.

Online auto financing and lending services can provide a good option. Being able to be matched with a lender that will approve you, based on your credit history and income level, can make life easier.

There are special finance programs for people of all credit scores. Some lenders don't even use your score as the determining factor in approving you loan.

There are a few good sources online that can help you to get approved quicker and also, will allow you to compare offers from multiple loan companies. This certainly makes getting a better deal much easier.

It's always best to do your homework so that you can make a wise decision as to who you apply with and what type of vehicle that you purchase. The make, model and year of vehicle can make a bigger difference in the interest rate that you can qualify for, than your credit score can. There are many factors involved when it comes to getting a car with a fair credit history, but don't dismay. There are great resources available to you online.

Buy a Car With a Bad Credit History

Once you know what it's like to be able to walk into a car dealership and buy whatever you want to on credit, it's almost like having a civil liberty taken away when you are told that you have a bad credit history and buying a car is going to be a near impossibility without a huge down payment or paying crazy high interest rates.

Fortunately... there are lenders on the Internet now that are more than happy to provide auto financing for people that have bad credit histories. This is very exciting news for many people that have never heard of this type of lending opportunity.

Having a bad credit history is not the end of the world and luckily there are lenders that are glad to help out. In the old days he used to be that you had to go to a car dealership and go through the traditional credit application process.

Now, just like everything else... all you have to do is hop online and get what you need. You can check your e-mail, shop for clothes and get a car loan approved for your lunch break is over. Best of all, this all happens even if you have bad credit.

My recommendation for anyone that has a poor credit history and wants buy a car is to simply look on the Internet at legit companies that are willing to help you. Keep in mind however, that not all offers for bad credit car loans are created equal. Some are good, some are bad and you should only deal with websites that you can trust.

Buy a Car Online With Bad Credit - Auto Financing For People With Low Credit Scores & No Money Down

Many people that have bad credit and are not able to get car credit locally, find themselves turning to the Internet in search of an online car loan. This is a good thing because the Internet opens up opportunities online that most people do not have available in their local areas. There are however a few things that you should be aware of if you're looking for online auto credit. This article covers a few of these key points.

Online auto loans are very similar to traditional auto finance, in that they are basic simple interest loans. The amount that is allowed for financing is based upon the loan value of the vehicle and your interest rates, are based upon the year, model and make of the vehicle, your monthly income and your past credit. So they are pretty much the same thing as a regular car loan.

What sets online auto financing apart from traditional lending is the sheer number of lenders that are available on the Internet. Being able to have a wide selection of lenders that can have very different lending guidelines, offers you the opportunity to get matched up with loan company that can work with your particular past credit history.

Competition is good when you need financing.

Getting a lower interest rate with online auto loans is a simple product of the system. When there are more lenders available, competing for your business, getting a lower interest rate is natural. This is one of the biggest advantages that online auto loans have versus traditional dealership finance. Also, being able to have more negotiating power with the car dealership, provides you with the ability to get a car loan with no money down.

Black Friday Car Sales - How to Get Approved With Bad Credit on the Most Popular Day to Buy Cars!

Black Friday is reported by news organizations all around the U.S. as one of the best days to get a great price on a car. Dealers all across the country slash prices on new and used vehicles as the excitement builds in the retail market for the big market boom leading up to Christmas. Frequently, these exciting prices at car dealerships start on Black Friday early morning, and lead through the weekend.

If you have bad credit, you may feel like you're left in the dark on Black Friday.

With a low credit score, you need to be able to get approved and get approved quick! There's no time to wait as the sales won't last long.

So what is the fastest and most convenient way of getting approved for a car loan to take advantage of these car deals? You can probably guess, online.

Online auto loans offer the most convenient and fastest way of securing an approval for an auto loan. There's no faxing required and you don't have to visit a dealership to get an approval. By completing an online application online, which takes just a minute, you can receive instant approval with legitimate companies.

Legitimate auto lenders and lending services that provide applications online can give you an approval in minutes. This allows you to know exactly what you're qualified for, so you can go straight to the dealership of your choice and pick out a car, taking advantage of the incredible Black Friday car sales going on right now.

Bad Credit Zero Down Car Loans

If you don't have any money to put down on a car, have bad credit and need a car loan, there is hope. You'll have to lower your expectations just a little bit and get your eyes off of that new Lexus.

The reality is that if you have bad credit and no money down, yes you can get approved for a car loan. It might not be a brand new car and depending on your credit situation, may only be a 9 or 10 thousand dollar ride. These days however, you can get quite a very nice vehicle for around 10 grand.

The no money down aspect of the situation really isn't that big of a deal so long as the car that you want to buy isn't price high above the loan value of the car. Finance companies that specialize in helping people with bad credit don't like to loan too much money above and beyond the loan value. This however, doesn't mean that you won't have a wide selection of vehicles to choose from because, in today's market, prices are low.

The economy has affected most everyone and lenders know this, therefore, they are not as strict when considering past credit histories.

The easiest way to get approved for a car loan if you have bad credit and no money down is to apply for a loan online with a lender that specializes in helping people in your situation. It's quick, painless and only takes a few moments to do this online. You'll have lower payments and probably be able to get more car for your money.

Bad Credit Special Finance Car Loan Approvals

Obtaining a bad credit, special finance car loan approval is a hot topic among people that have been turned down by dealerships. It's not as hard as the dealers make it out to be. You can get approved for a car loan without having to go through dealer finance departments or having to go through in person credit interviews. If you doubt this, it's simply because you're unaware of what's available to you, based on your income.

Car dealerships are not the best source for auto financing. The reason is simply because they mark up interest rates just like they mark up the price of the car to make a profit. If your auto loan is approved at 9%, you'll be told that you've got it at 12%, 14% or more. The difference between the rate that the lender will give you and the rate that you actually sign for on the contract, is dealer profit. Yes, dealers make money on your interest rate when they get you approved and you sign on the dotted line.

So, if car lots aren't the place to go, then where in the world are you going to get approved?

There are a few sources on the internet that provide real, bad credit car loans to people that have had a hard time with their finances. Loans are based on your income and generally, there is little need for a down payment. You'll get lower interest rates (that aren't marked up), which results in lower payments, if you shop for your auto loan on the internet.

Bad Credit Online Car Loans

If you have bad credit and online car loan is going to give you the greatest opportunity to get approved. You will have more choices, lower monthly payments and a much better interest rate.

When auto lenders compete for your business, you always win...

The trick to getting approved for the best bad credit car loan online is to use the website that has the largest database of lenders. This increases the odds of you getting approved even with the worst of credit scores. Even better, your monthly payments are based upon your monthly income. This prevents you from getting into something that you cannot afford. After all, you do want to improve your credit score, right?

While you are waiting for your credit history to gradually improve with time, bad credit online loans are available for cars, trucks and motorcycles. There are special lenders that are in the business of catering their services towards people that have bad credit and are in need of auto financing without a down payment. The benefits of using these types of services far outweighs shopping locally. When you obtain your financing on your own, you are in a much better position to both shop and negotiate price.

By now, it should be very easy to see that there are tremendous advantages to arranging your financing with an online car loan website that helps people that have bad credit. Chances are you only have a few options available to you locally. The Internet puts the world at your fingertips and if you have been refused car credit, gives you opportunities like no other.

Bad Credit New Car Loans!

In today's world, auto lenders look at car loans a lot different than they used to 10, 15 and 20 years ago. It used to be that if you have bad credit you couldn't get a new car loan. New car loans were only for people that had really good credit. Now, there are lenders that will loan you money for a new car even if you have bad credit. These are special programs through special lenders that base your monthly payment qualification, based on what you make every month. So, if you've had a hard time getting approved for car loan, don't be discouraged.

There is help...

To some people, this is like it's too good to be true. That is only because they have never been informed about the new special financing programs that are available. If you've only been looking in your local area for car loan then you may be thinking that all car loan companies work the same and that if you are declined at two or three dealerships, then you must just not be able to get a loan at all. Especially, when looking at new cars. Dealers will often tell people that because of their credit, they can only qualify for a used car. They won't tell you about ways that you can go get approved without needing them.

If you decide that you want to try one of these new lending services, keep in mind that even though it is so easy to get approved, that does not mean that you are going to be approved for a $40,000 car loan. $25,000 or $35,000, is more like it. Like I said before, it's all based on your income. Bad credit new car loans are not that hard to get because the loan company likes that your car will have a warped the owner. This means that you won't have your money tied up trying to pay for repairs and instead will have all of your money so you can make your car payment on time.

Bad Credit Car Loans With No Money Down

You drive into the car dealership, get out of your vehicle and take a look around. Usually within a minute, a salesman has spotted you and greets you with a smile. You're encouraged to test drive a vehicle and to look at payments and interest rates inside the dealership. Once numbers are agreed upon, a credit application is requested. Everything seems to go great up until the point that your credit report is pulled. That's when things change and you know what it feels like. It's disappointing, humiliating and embarrassing.

You go from wanting to buy a car, to wanting to just get approved. It becomes a feeling of desperation for many people. Salespeople and finance managers are aware of this, which makes negotiating price and interest rates much more difficult. In some cases, it's just impossible. The dealer knows that you know you have bad credit. Getting approved becomes the issue and it's something that puts you in a weak position to negotiate, anything.

Myth: If you have bad credit, you can't get financed anywhere but at a car dealership.

Fact: It's easier to get financed outside of a car dealership, on your own.

Getting approved for a car loan, if you have bad credit, is actually very simple. It's only difficult for you if you don't know where to go. You can get approved for a car loan based on your income, online. The internet has opened up possibilities for people that in the past, were unheard of. In fact, getting a car loan with no money down is very simple if you have bad credit. You've got a choice. You can either accept what you've been told at a car dealership as truth or you can do something about your situation and get the car loan that you deserve.

Bad Credit Car Loans For the Masses!

Being told by a car salesman that you've got bad credit can feel like you've got it stamped on your forehead when you walk out of the dealership. It's hangs a negative cloud over your head that feels horrible.

It just doesn't make sense why people with credit problems have to be subjected to high interest rates, higher payments and down payments. You're trying to be responsible and repair your credit and it makes it so much harder when you are told you've got to pay higher payments that other people, because of past mistakes.

There are many people in your same position and many of those people have found out about a new way to get car loans.

It's called online car finance.

There are many companies now that specialize in helping people just like you, get the car they want with payments that they can afford. There are loan companies that know just how you feel and just what you need to get your credit back in order and don't expect you to pay payments that you can't afford.

Lower interest rates, no down payments and the freedom to choose where you buy your car from are some of the benefits of getting approved online with a special finance company that helps people get bad credit car loans.

Even better... is that once you have your approval letter, you can go car shopping with confidence that you know what you're able to buy, rather than wondering if you'll get approved for what you want or not.

Bad Credit Car Leasing

Having bad credit is generally due to one of two things:

Having more money going out than you have coming in

Having an irregular income that is inconsistent

Regardless of the reason that you have bad credit, you are looking now at bad credit car leasing. It is understandable that you would look at this option, as leasing means lower car payments, right?

Depending on exactly how bad your credit rating is, you most likely will not be able to qualify for a lease unless you are able to demonstrate some level of financial stability. Leasing companies and lenders that offer leases have very strict credit standards that they look for in an applicant.

It is more difficult to obtain a lease with bad credit, than it is to obtain a bad credit car loan. However, once you understand leases, it's a blessing in disguise.

Leases are not for everyone. Even people with good credit, should seriously consider the pros and cons of leasing vs buying a car. Dealerships promote leasing like it's the best thing since air conditioning.

It's not.

When you lease a car, you aren't paying nearly as much toward the principle amount of the car, as when you are purchasing. Most of your monthly payment goes toward interest. There is also sales tax on your monthly payments. So, a good deal of your monthly payment is going more for a rental, in a sense, than for the actual car.

In the end, this means that when it comes time to trade, you owe more on a leased vehicle than you would have, if you had financed it.

Bad Credit Car Dealer

If you're looking for a Bad Credit Car Dealer, then stop right now. It will save you thousands of dollars if you do not use a car dealer that caters to people that have bad credit. Give me a minute and I'll explain.

If you've got bad credit, you've probably got some of these:

Bankruptcy

Repossession

Foreclosure

Medical Collections

Charge Offs

Past Due Credit Cards

Past Due Car Payments You probably think that you can't get this:

No money down

Reasonable interest rates

Monthly payments based on income

Instant approval

The ability to shop for a car, anywhere

The power to make offers on cars as if you're paying cash That's what you can do if you get your financing through special finance lenders, online.

Just as you can buy nearly anything online and conduct any transaction over the internet, you can also reach out and find a special finance car loan if you have bad credit, without having to go through the hassle of credit applications and other dealership hassles. When you get your loan approved online, through select lenders, you have the ability and the freedom to shop for a car anywhere. You don't have to be restricted to just being able to choose from the vehicles that are on a particular car lot.

It's easy to get approved online. The majority of people that have credit problems, don't even realize that this is available to them. Bad credit car dealers aren't the answer if you're looking to save money. If you want to improve your credit so you don't have to go this route in the future, then you owe it to yourself to explore other options.

Bad Credit Auto Loan Tips For People Needing Auto Financing Without a Down Payment

This is a short list of tips that everyone should know if you have bad credit and are looking to get approved for car loan. If you are interested in obtaining auto financing without the need for a down payment, these tips will eventually help you.

Tip 1) The first tip that I'll recommend to anybody that is looking for financing and have bad credit is to not accept the first offer that you are given. Sometimes people are so excited to get approved that they just sign whatever they have to because they are afraid that the approval may be taken away from them. If you can get approved today, you can get approved tomorrow as long as nothing changes. One dealership may give you a better offer than another and it's important to remember that even when you have bad credit. So definitely shop around.

Tip 2) If the dealership tells you that you have to have a down payment, that may not be the case. It may simply be that the lender that they have your approved through will not loan the amount of money that the dealership is trying to sell the car for. If the dealership tells you that they can absolutely get you approved if you just have a certain amount down, then it is very likely that if you get a better price on a similar car that you will have no need for down payment.

Tip 3) Explore all opportunities before you make a final decision. There can be a bit of anxiousness involved in the car buying process when you have been turned down. It's amazing how we want the things that we feel like we cannot get. This puts us in a vulnerable position and leaves the opportunities for less than ethical car dealers to take advantage of our emotional state.

There are many good sources available for car loans and some of them are online.