Many people have been able to finance a car with bad credit. Getting a vehicle loan is a good way to rebuild your credit and improve your credit score. Despite the potential pitfalls involved with bad credit vehicle loans, these loans, if paid on time, will help in rebuilding credit after bankruptcy and will do much to improve your credit and make future borrowing easier. Bad credit vehicle loans generally involve less financial risk for both the lender, yet they still give the borrower an opportunity to make installment payments in order to prove their ability to pay over time.
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Finance a Car with Bad Credit:
When you finance a car with bad credit, you must be careful to avoid getting into a situation that actually causes your rating to fall even further. While many have been able to claim “a vehicle loan improved my credit score” a bad credit vehicle loan can also cause damage if you’re not careful to avoid the mistakes that got you into trouble in the first place. A bad credit vehicle loan sometimes requires a down payment.
Lenders who focus on the bad credit vehicle loans also tend to offer loans with higher interest rates. Higher interest rates equate to higher monthly payments. Default on such a loan causes further credit damage. Rebuilding credit after bankruptcy also requires a change in lifestyle to avoid what placed you in bankruptcy in the first place.
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How it Works:
- Normally you go to a dealership, pick a vehicle and wait to see if they approve you for financing. If you don’t get approved then there is usually some big mystery attached. We are here to help stop that!
- We work backwards: First we get you pre-approved for a car loan (in most instances this takes less than 24 hours).
- Then we call you back and tell you how much your car loan has been approved for, the stipulation of the car loan etc. full disclosure. If you like what you hear, we will get you the vehicle of your choice that matches the auto loan payment. If for any reason you don’t like your instant auto loan approval, then you are under no obligation to accept it!
- Our online credit application is free, secure & will only take you a minute to complete.
For any questions please call us OR click the button below and get started on the road to credit recovery today!
