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Bad Credit And Loans
Apply today or learn more about loans for individuals with less than perfect credit!
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Bad Credit Car Finance
Ready to finance your next vehicle, but have less than perfect credit?
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Bad Credit Home Loans
Yes! You too can enjoy the benefits of home ownership, regardless of your bad credit rating.
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Bad Credit Personal Loan
Secured or Unsecured Personal Loans are available to those with less that perfect credit.
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Debt Consolidation
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Credit Repair
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Credit Cards
Find out which major credit cards are available to you regardless of your credit past!
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Home Equity Loans
It's your home, its your equity, it's your cash. Don't let your bad credit stop you from obtaining a home equity loan.
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Emergency/Payday Loans
When you need cash today, Payday Loans are a quick solution, regardless of your credit history.
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Auto Loans With Bad Credit
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by: Peter Lenkefi
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Internet surfers with bad credit looking
for an auto loan are bombarded with
advertisements most days. Many of these
ads are truthful in their bad credit
auto loan options. However, there are
many things to avoid, and this article
will describe some of those.
Directly financed auto loans for people
with good credit are a bit different
than those with bad credit. People with
bad credit are expected to pay more of a
down payment as well as a higher
interest rate on their auto loans. Many
creditors won’t even extend an auto loan
to those with bad credit. Depending on
how bad someone’s credit is, auto loans
can range from a 20 – 50% down payment
requirement, interest rates from 5-26%,
and amortization (the length of the
loan) anywhere from 2-4 years.
This may sound like a lot of bad news
for bad creditors looking for an auto
loan. But with some good planning and
foresight, these auto loans can actually
help people with bad debts rebuild their
credit history.
The worst situations in bad credit auto
loans show up when car dealers
artificially inflate the pricing or
interest rates on their cars. Auto
dealers who specialize in bad credit
loans will take a car normally selling
for $5,000, inflate the price to $8,000,
take a $2,500 down payment and then
finance the purchase at 24%. Now the bad
creditor will be in debt to the auto
loan company for an inflated price that
isn’t indicative of the vehicle’s real
value. A way to counteract these types
of sneaky bad credit auto loan dealers
is to check the value of the car you are
looking at, first, and then only pay
$200-500 extra then what’s listed. Only
in exceptional circumstances would you
ever pay more than this for a car.
Two different ways of selling a car have
emerged recently with the new, Internet
economy. The first is called the ‘dealer
network system’. Auto purchasers can get
a loan regardless of their bad credit
history with this option. Essentially, a
potential customer looks at a car on a
website, and then answers some basic
questions if interested in buying. This
information is then passed along to a
dealer specializing in bad credit auto
loans. Since there are no fees involved,
this can be a real boon for the bad
creditor looking for a decent car loan.
However, with this system, there is no
way of researching the auto dealership
you are about to do business with.
Auto
Loans With Bad Credit
The other new option is called an
application service. In this situation,
a person with bad credit applies online
for an auto loan, and the financial
information is then sent to multiple
lenders at the same time, with the hope
that one or two will be willing to take
the credit risk. If the system works,
several dealerships with fight for the
customer, using price and convenience as
their selling points. |
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Personal
Loan
Quickly qualify for a personal loan.
You can immediately access cash to
balance your budget, handle emergencies,
consolidate bills, or put money in your
wallet!
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Borrow up to $15,000*
- All
loan requests are confidential and
secure
- Quick
approval process
- FREE
personal loan quote, no obligation
to accept your loan proposal.
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Free E-book 'Credit Helper'
Bad Credit Loan Zone has made the popular Credit Repair E-Book 'Credit Helper' available to download absolutely FREE! If you're ready to work towards repairing your credit, this road map will take you step by step through the process. No registration required to Download this FREE E-book today! |
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