Buy Here, Pay Here Auto Finance is Not What You Need If You Need a Bad Credit Car Loan
Buy here pay here auto finance is not the best option for you if you have horrible credit and need to get a car. It’s actually THE most expensive way of buying a car and you can avoid having to do this.
Regardless, of your credit history.
There are lenders that are in the business of helping people. Helping people with horrendous credit. They’re in the business of helping you get into a car without having to put down a down payment and without having to pay tremendously high interest rates. Car loans are secure loans because there is collateral, therefore, it’s easier than you think to get a car loan even with the worst of credit histories.
Since the recent problems that the economy has brought on everyone, more and more Americans have credit problems. Foreclosure rates are sky high and repossessions are very common. People have lost jobs all across the nation. Loan companies have had to adapt to this new wave of buyers that have these problems.
It used to be that if you had a repossession or a bankruptcy, that there was no possibility of you being able to get a traditional car loan. Those days have changed.
Now, if you need a good vehicle, you can get approved so long as you have a job and can show that you have a way to pay the payments.
Doesn’t it make sense that a lender would rather you be driving a car with a new car warranty, than an older car that you would have to spend money on repairs? Isn’t that a better deal for the loan company?
You bet it is.