Auto Loans For People With Bad Credit

Posted by admin on November 20th, 2009 at 04:55pm

auto loans for people with bad credit

Question:
Are there banks that offer auto loans for people with bad credit and aren’t connected to auto dealers?
I have poor credit but no major problems like bankruptcy, child support or anything similar to that. I make good money and I am trying to rebuild credit. I understand there are banks out there connected to dealerships that would finance me but I want to buy from a private owner and go right through an independent bank. I would like to put down about fifty percent cash. I need help.

Answers:
You might want to search the internet for banks in your local area that might issue auto loans for people with bad credit. You might want to call to ask that bank. Tell them your situation about your credit. At times, if you explain your situation ahead of time and your credit report reveals that you have been very active in taking care of finances, they may offer you finance, even more likely with a down payment. You just need to find the vehicle you like. Right now the economy is poor, and many banks are issuing out auto loans for people with bad credit. It is all depending on your debt, credit score, and your income. However, locating the right business is the main thing. As such, you might even think about getting a private loan to finance the other fifty percent. ( Capital One or Wells Fargo, etc.) Or the other alternative is to buy a decent used vehicle! There are many out there 2000 and over with prices around six thousand plus. It would depends on the shape and miles!
. Remember to get a internal report on the vehicle to check if it is not a lemon, how many people had the car or been in any incidents. There are many cars out there, so you just have to search. With determination, hard work and research you can locate the right one! It just takes time and patience! Read in the Newspaper for private owners, e-bay or even look at local bank for vehicles they are selling.

Hope this assists you.

Under Cars and Bad Credit