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I Need a Car Loan But I Have Bad Credit - Where Can I Go to Buy a Car? [07 Mar 2013|04:10pm] There are several options that are available if you find yourself needing to buy a car with bad credit. This article will outline a few options and hopefully assist you along your way to gaining the financing that you need. First, what is your credit score? Getting a current copy of your credit report is something that can help because that way, you'll know exactly what you're up against. Knowledge is power especially in the case of overcoming bad credit to purchase a vehicle. Choose the right type of lender... Some people get confused with the terms "prime" and "sub-prime" lenders. A prime lender works with people that have very good credit. Sub-prime lenders typically only lend to those that have lower credit scores. If you have bad credit, then a sub-prime lender will give you the best opportunity for getting financed. Sub-prime lenders have requirements and guidelines that must be met in order to get a car loan. Some are more strict than others so obviously, if you have a low credit rating, you'll be able to get a quicker loan through a lender that has guidelines that you can meet. Unfortunately, those guidelines aren't published by many, so you'll find help in using a website that has can match you with the best lender for your situation. More on that in a moment. Avoid the common mistakes... Buy here, pay here car lots are an option if you are backed in a corner and have no other option. Unfortunately, many people turn to these types of car lots when financing alternatives are available with real car loan companies. Some of those are available online if you don't have them in your local area. Find out what you qualify for... If you have an income of at least $1500.00 per month and a steady income, chances are that you qualify for a good car loan through a sub-prime lender. There are a few places online that can assist you in determining the amount of auto loan that you are eligible for. Need good, bad credit financing? http://www.BuyingCarswithBadCredit.com can help point Article Source: http://EzineArticles.com/4167436 post comment

Hard Hitting Tips For Getting a Better Price When Buying a With Bad Credit [07 Mar 2013|03:36pm] Credit problems affect many people and when it comes to purchasing a vehicle it can be very challenging. Part of the challenge is getting approved, but another challenge that can be even more difficult to overcome is getting through the sales process of many car dealerships. Chances are, you've noticed the difference in the tone and the way that salespeople act when they realize that you have bad credit. It's not a good feeling to think that you're being looked down upon. The fact is, there are many car salespeople that have bad credit themselves, due to the nature of working in a straight commission based job. So keep that in mind. Proceed with caution... One of the first tips that I would give anyone that's looking to buy a car with bad credit, is to go about everything slowly and with caution. Keep your emotions out of the equation and read over everything carefully before signing anything. Take a pocket calculator with you to the dealership. When they offer you a payment amount for a certain number of months, multiply the two to see what you're really going to end up paying for that vehicle. Out of hundreds of vehicles that I've sold or closed the finance on, I've never had one single customer pull out a calculator to do any math! Don't you think that's a smart idea when committing to buy a 10, 20 or 30 thousand dollar depreciating asset? Don't be intimidated... Dealerships want to move cars off the lot. Your money or the money from your loan funding spends just as well as anyone else's. Don't let having bad credit make you feel like you're in a weaker position to negotiate the price or any term related to your car deal. Haggle like it's nobody's business but yours and refuse to accept any offer, interest rate or price that you don't feel comfortable with. Even if you feel comfortable with it, ask for a discount. Know how to ask for a discount... Why don't you ask for a lower price or a lower interest rate? Many don't know what to say. If that's you, here's a few tips that will surely give you an edge at bargaining time... 1) I like the car and can afford the payments, but I don't think I would be making a smart decision by paying that amount. The total of payments equals XYZ and I don't think that you would think I was very smart if I said I wanted that car at that price. If you can save me $1000.00 off the total of payments, I would think I was making a more intelligent decision. 2) You know, that's a nice car and I can afford the payments, but I think that you would think I was an idiot for agreeing to this price. I understand that you need to make money as you do have expenses like light bills, commissions, etc., but I have expenses, too. If you can help me to save some money, I can help you make some money by buying this car. 3) As a general rule, I don't like to spend more money that I think is reasonable. I appreciate the offer, but this is almost an insult to my intelligence. Yes, I have credit problems and part of that is because I've had more bills than I've had income. The last thing that I want to do is have a high payment that's could be a challenge to pay should something unexpected happen. I'm thinking that you have the power to help me to save money, so what are you capable of doing? Those are a few suggested "angles" that you can use if you want to save some money on the price of a car. Use them as you wish and hopefully they will give you some ideas. Remember, the last thing a dealer wants you to have in your pocket is a calculator or an NADA car value book. So, make sure that you bring those along! You can avoid the typical dealership routine and get your financing approved before you shop for a car. People that have bad credit are welcome at http://www.BuyingCarswithBadCredit.com. Bad credit auto financing is easy if you know where to go and what to do. Get pre-qualified for your auto loan in minutes without having to fill out multiple applications at multiple dealerships. I'm Jason Lanier - Thanks for reading and I hope that these tips help you! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4173997 post comment

Bad Credit Car Loans - Negotiating a Better Price and Payment Terms [06 Mar 2013|08:46pm] Bad credit affects people of all walks of life and getting approved for a car loan is a challenge in most cases. This article offers tips that will help you along your way to getting a lower price and better payment terms when getting a bad credit car loan. More than likely, you've had the experience of the "look" that you get when you're at a dealership and the salesperson learns that you have credit problems. They try to hide it, but salespeople seems to change their pace a bit when they find out that a customer has bad credit. Normally, you're invited off the showroom floor and into an office to fill out a credit application. "Let's see what we can get you approved for", is a common remark. What happens at this point usually puts the customer at a disadvantage. When you're at this stage in the buying process at a dealership, it's common to change from looking at a car that you want to buy, to just trying to see what you can get approved for. This mindset can cost you thousands of dollars in the total amount of your payments. Both in the sale price of the vehicle and the interest rate that you're offered through the dealership. A Negotiation Advantage... A more advantageous approach and one that will save you quite a bit is to reverse this process. Rather than just trying to get approved for a car and having limited choices as to what you can buy, there is a better solution. By getting prequalified for financing, you are able to get approved first before going to a car dealership. This allows you the negotiation advantage. Rather than being in an office in a dealership at the mercy of the finance manager, you're able to choose what you want to buy based on the amount that you're qualified for. The most convenient way of going about this is to find financing opportunities for people that have bad credit online. There are real, legitimate companies that cater to helping people in this situation to overcome past bankruptcies, foreclosures, collections and charge-offs so that they can get a good car loan. Car loans help to rebuild your credit score and history as it's the second largest credit purchase that most people make aside from a home. By working with a good company and having a bad credit car loan that will reflect positively on your credit report, you're one step ahead of the game the next time you need to buy a car. http://www.BuyingCarswithBadCredit.com can show you a great company to work with, along with some helpful resources that you can use along your way to a quick bad credit car loan with legitimate online companies. I'm Jason Lanier - Thanks for reading! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4188415 post comment

Info on Bad Credit Car Loans For People That Have Low Income [06 Mar 2013|07:48pm] If you have bad credit and a low income, it's very challenging to get approved for a car loan. This article looks at the basic requirements set forth by companies that do offer auto financing for people in this situation. If you have low income and are in need of a car loan with bad credit, there are a few options that are available to you. Buy here, pay here car dealerships, local banks and online financing solutions have various pros and cons while online opportunities through companies that have low income requirements may be the most convenient solution. In-House Dealer Financing Buy here, pay here car dealerships are car lots that offer to finance their own vehicles without a credit check. A minimum down payment is required in most cases and payments can be made on a weekly, biweekly or monthly basis. The interest rates and prices are usually high, so this option is something that should be considered a last resort. Your Local Bank Local banks or credit unions have different loan requirements so you will need to consult with your local resources. If you have an account with a local bank or credit union, then you may find favor when applying locally at one of these locations. Looking Online Online financing options for people that have bad credit can offer you an opportunity to be matched with an auto lender that caters to people in your particular situation. Some lenders work with marginal, fair and bad credit, and each lender is different. Some sites have large databases of lenders that you can be matched with based upon lender approval criteria and your credit and income. A low minimum income of $1500.00 per month is required. Bankruptcies must be discharged and repossessions are ok, so long as some requirements are met. http://www.BuyingCarswithBadCredit.com can point you in the right direction if you have low income and need bad credit car financing. See what is required for you to get approved. Article Source: http://EzineArticles.com/4188338 post comment

Hard Hitting Tips For Getting a Better Price When Buying a With Bad Credit [06 Mar 2013|04:07pm] Credit problems affect many people and when it comes to purchasing a vehicle it can be very challenging. Part of the challenge is getting approved, but another challenge that can be even more difficult to overcome is getting through the sales process of many car dealerships. Chances are, you've noticed the difference in the tone and the way that salespeople act when they realize that you have bad credit. It's not a good feeling to think that you're being looked down upon. The fact is, there are many car salespeople that have bad credit themselves, due to the nature of working in a straight commission based job. So keep that in mind. Proceed with caution... One of the first tips that I would give anyone that's looking to buy a car with bad credit, is to go about everything slowly and with caution. Keep your emotions out of the equation and read over everything carefully before signing anything. Take a pocket calculator with you to the dealership. When they offer you a payment amount for a certain number of months, multiply the two to see what you're really going to end up paying for that vehicle. Out of hundreds of vehicles that I've sold or closed the finance on, I've never had one single customer pull out a calculator to do any math! Don't you think that's a smart idea when committing to buy a 10, 20 or 30 thousand dollar depreciating asset? Don't be intimidated... Dealerships want to move cars off the lot. Your money or the money from your loan funding spends just as well as anyone else's. Don't let having bad credit make you feel like you're in a weaker position to negotiate the price or any term related to your car deal. Haggle like it's nobody's business but yours and refuse to accept any offer, interest rate or price that you don't feel comfortable with. Even if you feel comfortable with it, ask for a discount. Know how to ask for a discount... Why don't you ask for a lower price or a lower interest rate? Many don't know what to say. If that's you, here's a few tips that will surely give you an edge at bargaining time... 1) I like the car and can afford the payments, but I don't think I would be making a smart decision by paying that amount. The total of payments equals XYZ and I don't think that you would think I was very smart if I said I wanted that car at that price. If you can save me $1000.00 off the total of payments, I would think I was making a more intelligent decision. 2) You know, that's a nice car and I can afford the payments, but I think that you would think I was an idiot for agreeing to this price. I understand that you need to make money as you do have expenses like light bills, commissions, etc., but I have expenses, too. If you can help me to save some money, I can help you make some money by buying this car. 3) As a general rule, I don't like to spend more money that I think is reasonable. I appreciate the offer, but this is almost an insult to my intelligence. Yes, I have credit problems and part of that is because I've had more bills than I've had income. The last thing that I want to do is have a high payment that's could be a challenge to pay should something unexpected happen. I'm thinking that you have the power to help me to save money, so what are you capable of doing? Those are a few suggested "angles" that you can use if you want to save some money on the price of a car. Use them as you wish and hopefully they will give you some ideas. Remember, the last thing a dealer wants you to have in your pocket is a calculator or an NADA car value book. So, make sure that you bring those along! You can avoid the typical dealership routine and get your financing approved before you shop for a car. People that have bad credit are welcome at http://www.BuyingCarswithBadCredit.com. Bad credit auto financing is easy if you know where to go and what to do. Get pre-qualified for your auto loan in minutes without having to fill out multiple applications at multiple dealerships. I'm Jason Lanier - Thanks for reading and I hope that these tips help you! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4173997 Reference: http://ezinearticles.com/2515580 post comment

[06 Mar 2013|03:58pm] Is it Possible to Get a Car Loan in Waltham MA With Bad Credit and No Money Down It is totally possible to get a real car loan online when you have bad credit in Waltham. Not having to have a down payment depends upon the relationship between the loan value of the vehicle that you are buying and the percentage that the lender will loan on the car based upon that loan value. If you get a great deal on a car in Waltham you will not have to put down any money upfront. If the price of the car is a little bit higher than what is required by the lender, you will have to put down a small down payment. Fortunately, there are real lenders and sources for car loans online that will work with your budget. You can even get payments that are based upon what you make each month or, your total household income. This is exciting news for a lot of people in Waltham that are unaware that these types of services are available. The fact is, some services have had over $1 billion in secondary financing approved for people that are in your same situation. Just like everything on the Internet, there is spam and then there is jam. There are websites that are nothing more than spoofs and there are real opportunities with real companies that are willing to help you in Waltham. If you have bad credit and are looking to get financed for car in Waltham and you don't have any cash to put down that I would highly suggest that you explore the opportunities that are available to you with legitimate online lending services. Visit http://www.BuyingCarswithBadCredit.com for Waltham, MA Car Loans. post comment

[06 Mar 2013|03:56pm] Online Auto Financing For Bad Credit in Greensboro, NC 27407 With the way that things have been going lately in Greensboro, so many people are suffering from credit problems that are hindering their ability to obtain normal auto financing. If this is you, you'll be happy to know that there are lending services serving Greensboro that are here to help with auto financing. Recent government funded programs that offered trade incentives for people with older cars with poor gas mileage only helped people that had a qualifying vehicle. There is still a segment of the population that needs help and needs it now. Fortunately... people in Greensboro that have credit problems can now obtain car loans through lending networks that help people based on their incomes. The monthly car payment is based on how much money you make each month. That way, you don't get overloaded with an auto payment that is difficult to afford. After all, if your working to rebuild your credit history, high car payments won't be of any help. You need a reasonable credit offer that you can live with and that will allow you the freedom to have some extra money in your pocket each month. Online auto financing is available to people in Greensboro that have bad credit, no credit or horrible credit. These types of services match folks up with lenders serving Greensboro that have lending guidelines that match the credit history and income of the consumer. There are just simple standards that must be met, like having a monthly income of at least $1500.00 per month and not being currently involved in a bankruptcy. Visit http://www.BuyingCarswithBadCredit.com for Greensboro, NC Bad Credit Car Loans. post comment

4 Options For Bad Credit Car Loans - Where is the Best Place to Get Approved? [05 Mar 2013|09:51pm] This article looks at a few common and not so common options that you may have available to you for bad credit car loans. It's much easier than many imagine to get approved if you have a job with sufficient income and meet some basic criteria. One very smart way to go... Do you own a home? One of the smartest ways to get a great bad credit car loan is to take out a home equity loan. The interest rates are much lower than most bad credit car loan companies charge and the interest is also, drum roll please... tax deductible as mortgage interest. This is one creative and advantageous way of getting the money you need for a car with a secure financing option. One not so smart way to go... Buy here, pay here places (those dealerships that you see with signs offering to finance anyone) are popping up everywhere. These are usually small local dealers that have high mileage used cars. They offer to finance anyone that walks through the doors usually, that has a down payment (to cover the cost or a portion of the car) and a job. This is akin to purchasing a vehicle from a pawn shop due to the high interest rates and the pricing (they're betting that you don't look at an used car pricing guide). If you're in a bankruptcy or just have credit that's "tore up from the floor up" then this is an option for getting back on your feet (or off of them). One not so common option some have... Local banks (credit unions included) are an option for some if you have an open account with them that is in good standing. Even after a bankruptcy, if you've kept your payments current with a local lender that has treated you well (and you've reciprocated with timely payments) then it's a good idea to check with them first before going elsewhere. You may be surprised what knowing someone can do, too! One way many are choosing these days... Online companies that specialize in bad credit car loans and helping people find lenders based on their credit situation/obstacles are some of the best places to look. There are many websites that offer this service, yet you have to be cautious in this day and time to make sure that you're dealing with a good, solid and legitimate company. Before you leave, I would like to invite you to a website that I've put together to help people that are looking for a good company to work with. It's tough finding a good company that offers bad credit financing for cars, but there are a few legitimate sources that can help you to overcome the obstacles that you're facing. http://www.BuyingCarswithBadCredit.com can help. I'm Jason Lanier - Thank you for reading! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4195619 post comment

Bad Credit Car Loans - Exploring Unconventional Options For Buying a Car With Bad Credit [05 Mar 2013|09:14pm] For people with bad credit, trying to get approved for a car loan can become a task that seems nearly impossible. There are some options that many aren't aware of though that could save you some time and trouble. With a good income and few other factors falling into place, getting approved for a loan isn't as difficult as you would think. You're most likely inside one of your best and safest options right now, and don't even know it! A home equity loan boasts much lower interest rates than most bad credit car loan companies could ever come close to, and to top it all off, the interest you do pay is deductible as mortgage interest! Why this option isn't the most popular, I can't explain. But it is surely a safe and effective way to finance the money you're looking for. A common trap... There's always a not-so-green side of the grass, and that would be those increasingly popular buy here, pay here dealerships. We've all heard the commercials about getting car loans with terrible credit or even no credit, but what's the deal? Well, it sounds like a good deal - walk in, make a down payment, drive away. What they don't tell you is that in the trunk of that car is an interest rate that'll scare you right off the road. That is, if you justify the price of the cars. These guys are praying that you don't know what their cars are really worth. Take a look at the odometer before you roll off the lot - I'm betting you there will be a pretty large 6 figure number on there. These places aren't the best option for everyone, but for those of you who've found yourself in a bankruptcy or have nightmares about your credit score, these places are a very real option for some. Of course, one of the last places you might think about heading to for a car loan might just be the same people you've always trusted with your money - your local bank. Even credit unions are sometimes willing to give you a hand if you've kept your payments up-to-date. Banks make money by giving it out. When a bank can afford to give you a loan, and trust you to make timely payments, they've helped their business, too. It can't hurt to ask! And finally, one of the most talked about ways to find some help with your financial woes, is online companies that exist just for that purpose. Using a trustworthy service online can be the best possible way to go, as long as you know that the company you're dealing with is really out there to assist you in getting that loan you need with an interest rate you can handle. http://www.BuyingCarswithBadCredit.com can help point you in the right direction if you need a good company that can offer you second chance finance. Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4288145 post comment

Bad Credit Car Loans - Ever Thought About Using a Reputable Online Company For Your Financing? [05 Mar 2013|08:51pm] Whatever you do, do it carefully. There are many offers for auto loans on the internet from a wide array of companies that promise you the moon and the stars to go with it. In this day and age, you've got to be cautious about anything that you do online. There are reputable companies ready and willing to help those that have credit problems to get good car loans with reasonable terms. Finding them can be a challenge. Even with the waters being murky, there are some reputable companies that are willing to help. Most of these are secondary or sub-prime lenders that lend indirectly through car dealerships around the country. Some stretch into Canada, as well. In order to get approved through one of these auto loan outfits, you'll have to have an income and credit profile that falls within any number of situations. Your income has to be at a minimum of $375.00 per week. That's gross before taxes. Most companies that offer lower interest rates are going to require more, but it can be based on your debt to income ratio. Bankruptcies are easier to overcome than one might imagine. Having it simply over with is all that's needed to get a fresh start with auto credit. If it's not discharged however, well it's probably not going to be happening. Repossessions are "iffy". If it's a recent repo, then it has to have been within the scope of a bankruptcy. Otherwise, it must have happened a year ago or more. Expect to pay a high interest rate if you have a fresh repo on your credit report. Credit score requirements vary. Some secondary lenders base their approval decisions on other factors, rather than you beacon score. Depending on your situation, this may be a significant help. It's always a good idea to at least know what your credit score is so you're not throwing darts in the dark when applying for a bad credit car loan online. See what http://www.BuyingCarswithBadCredit.com can show you. I'm Jason Lanier - Thank you for reading! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4325384 post comment

How to Buy a Car With Bad Credit - Memorial Day Weekend Car Sales Events [05 Mar 2013|08:33pm] Memorial Day weekend is one of the most popular times of the year to buy a car. With manufacturer incentives and dealer rebates being used to lure customers into the showrooms with massively advertised car sales, prices can be expected to drop significantly as dealerships focus on volume sales to clear out inventory. These types of sales events create quite a stir for both new car and used car sales. It's an Exciting Time to Buy a Car... With model year end closeouts bringing in many new car trade-ins, great used car deals can be found at many dealerships across the country. Don't get carried away with the excitement though and make sure you take your time to think through your purchase decision. Having bad credit can present a problem as frequently, dealership financing can be a long and drawn out process of sending a buyers application to several finance companies for approval. This can prevent some people from being able to take advantage of Memorial Day sale prices and incentives. Online Bad Credit Services to the Rescue... With a few reputable services online being able to help with same day approvals for bad credit auto financing, the amount of time needed to get approved can be reduced significantly. By using online car loan services, applicants can fill out one application and be able to quickly secure their loan, without having to wait through the typical process of multiple applications at several dealerships. If you have a low credit score, you may find that the quickest way to get approved to buy a car with bad credit this Memorial Day weekend and take advantage of special sale prices and incentives, to be through these types of services which offer same day approvals online. Immediate response to your application is normally provided, however make sure that you're using a service that will provide you with a fast response so the weekend does not pass you by. Finding quick approval online can be tough. There are great bad credit services online that can help to make this happen. Learn more by visiting http://www.BuyingCarswithBadCredit.com . I'm Jason Lanier - Thank you for reading! Article Source: http://EzineArticles.com/?expert=Jason_Lanier Article Source: http://EzineArticles.com/4381835 post comment

Bad Credit Car Loans Online Are a Great Option For Avoiding in House Dealer Financing [05 Mar 2013|07:33pm] There are several different places that one can turn to for bad credit car loans. Some places are better than others, however for most people that have taken the time to explore all options, there is inevitably a good auto loan for nearly everyone, even with a low credit score. Car lots that offer in house dealer financing are a choice that many seek out too quickly. Just because someone has credit problems, such as a bankruptcy or repossession, doesn't mean that they can't get a fresh start with a real auto loan. Besides, dealers that offer their own financing are certainly not going to report your payment history to the major credit bureaus, which improves your credit score. Most simply do not have the resources to do so. Other options that some consider are secondary or subprime auto loan companies that provide financing indirectly. This can be a great option if one is interested in getting payment terms and interest rates that are advantageous to repairing credit. A good rule of thumb is to take out an auto loan for the shortest length possible to avoid excessive interest charges. Make sure that your payment amount is affordable, even on those months when the added expenses of the holidays or vacation time will be present. This is easily achieved with some companies that allow consumers with bad credit to be qualified for a payment amount based on their monthly income, with consideration of monthly bills and expenses taken into account. This is certainly a great option for those that have had a difficult time in getting approved. Above all, don't rush into anything. Compare offers from multiple dealers or loan companies. Using an online website that allows one to be matched with lenders or dealers based on the above factors can be a great way to save money, without the hassles of doing it the old fashioned way. http://www.BuyingCarswithBadCredit.com is a great place to start. It may be surprising to find that there are bad credit auto loan services that are eager to help you to get approved quickly for what you want at a price you can afford to pay. I'm Jason Lanier - Thank you for reading! Article Source: http://EzineArticles.com/4403202 post comment

Where is the Best Place to Get a Car Loan With Bad Credit? [05 Mar 2013|04:31pm] So where exactly is the best place to get a car loan when you've got bad credit? First of all, you certainly want to avoid the following... Avoid Buy Here Pay Here Dealerships. These types of establishments that offer in-house financing charge extremely high interest rates, price their cars at retail or above, and generally always want a down payment. This is not the best place to get a car loan and certainly not if you're wanting to save money. Buy a car from one of these places and you'll be paying not hundreds, but thousands of dollars more for finance charges than you have to. Avoid Dealer to Dealer Hopping. Don't go hopping from one dealership to another trying to get approved. So many people with bad credit do this and it leaves large numbers of credit inquiries on your credit report. Those inquiries stay on your credit report for two years and they show that you're having a hard time getting approved. When you go to a second or third dealership trying to get approved, the dealer can see the banks and loan companies that you've been sent to already and have been turned down. So, if you're doing the dealer to dealer hop, stop now! Online Lenders Save the Day. If you have bad credit, the best place to get approved for a car loan is online. Now don't go entering your information into 15 websites. There are a couple legitimate sources on the internet that allow you to either search through a database of lenders. There are also sources online that will pair your credit history with lenders that are guaranteed to approved you. In my opinion, online sources are the best place to get a car loan if you have bad credit. http://www.BuyingCarswithBadCredit.com can help you find a real car loan. Article Source: http://EzineArticles.com/2692878 post comment

Buy a Car With Bad Credit With No Money Down [05 Mar 2013|02:12am] You've got bad credit and dealer after dealer is wanting money down. To buy a car with bad credit, with no money down, you need to know a few things. First, there are only two reasons that a dealer would want a down payment... The most common reason is because it adds profit to the sale. The other less common reason is because it's needed to lower the total amount financed for approval by the lender. Trying to figure out which is the real motivation to pressuring you for cash is a little difficult so long as, you are depending on the dealer to get you approved. Most people think that if they have bad credit, they have to use the financing offered through the car dealership. After all, the local bank won't give you a loan right? This is a common mistake that can cost you thousands of dollars in outrageous finance charges. Let me fill you in on a little BIG secret... Car dealerships mark up the price of the car. Everyone knows that. Did you know that they ALSO mark up the interest rate? Yes, they do. They submit your credit application to lenders. The lender responds with an offer. Let's say that they approve you for a rate of 9%. Guess what? The dealer, knowing that you know you have bad credit will try to convince you that you are approved at 12%. The 3% difference becomes nothing more than profit that the finance manager gets paid a commission on. Guess you pays for it... you. Your payments go up 10, 20, 30, 50 or even $100.00 per month simply because the dealership marked up the interest rate. The truth is this. You can buy a car with bad credit with no down payment and also with lower interest rates by simply avoiding the dealer finance department altogether. If you know where to look and prearrange your financing (yes it's done everyday), then you can have the confidence to walk into a dealership, pick out the car of your choice based on the amount the finance company preapproves you for and had the dealer a check. This puts the power of negotiating price in your favor. Car dealers will be jumping over backwards for your business. Find Legitimate Lending Sources Here: Buying Cars with Bad Credit. Article Source: http://EzineArticles.com/2515580 post comment

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