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.
No comments:
Post a Comment