Bad Credit Auto Financing

Posted by admin on October 22nd, 2009 at 12:00am

Question:
Has anyone ever been approved auto financing from a bad credit auto financing website?
Which internet site was it? How poor was your credit? Our car was destroyed and insurance was able to pay it off. My wife has horrible credit and has been rejected everywhere. I have too little credit and also have been rejected. I desperately require a vehicle.

Even with poor credit you still have a good chance of getting bad credit auto financing as long as you have a steady occupation.
You have to be really careful will whom you choose on the internet. Please check out the following website, they are special finance specialists. I know you will get all your inquiries answered and even apply for a loan if you would like. Best of Luck!
www.autocreditexpress.com

Answers:
If you cannot get a co-signer or get a loan from family or friends, you may have only one option: a buy-here-pay-here used auto dealer who finances his own loans. They specialize in bad credit auto financing.

On the other hand, you should know what you’re getting yourself into if that is your choice. BHPH dealers sell vehicles that are overpriced, may request a high down payment, charge the steepest interest rate allowed by your state usury laws, will put you on a strict biweekly or weekly payment plan, and will install a starter interrupter device on the vehicle (and maybe a GPS locator). If you are tardy with one payment by one single day, the car won’t start. If you miss a single payment, the car is immediately taken away and put back on the sale lot. You might or might not still have to pay them money at that point.

If you agree to go with the BHPH dealer, check them out with your regional Better Business Bureau, which has a website, know the correct value of the car (www.kbb.com or www.nadaguides.com), and obtain a CarFax vehicle history report — and make sure that all your payments come in on time.

Best of luck.

Under Cars and Bad Credit