Normally, when you have credit problems, a higher interest rate on everything that you buy or finance, just seems to be something that we just accept as being a fact of life. Is it, though? Do you really have to pay an outrageous interest rate for everything that you tried to get on finance? Is there a better way? How about with car loans? Is there a better way to get a car loan when you have credit problems and get a lower interest rate, too?
You bet.
If I were to take a poll and asked people that have bad credit if they knew that there were sources available on the internet to get bad credit car loans at better interest rates than those that are found through dealerships, I bet that only 3 in 100 people would have ever even heard of such a thing.
More and more banks, credit unions and major financial institutions have online banking. The secondary lending market, those companies that specialize in bad credit or second chance finance, is catching up. Now, you can get a car loan online easier than you can at a car dealership.
How can that be?
It's because it's where all of the lenders are. All of the lenders in the U.S. just about, are not on the internet and doing business! What this means for you is, if you have bad credit and need a car loan, you don't have to settle for the options that you are offered locally. You can obtain auto financing even with bad credit, right at your home computer.
When there are more lenders to choose from, lenders have to compete for business, which saves you money by allowing you to get better loan terms, including a lower interest rate.
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