The auto lending landscape is undergoing a change which may impact your ability to qualify for a car loan. Here's what's happening and what you can do if you need a car in this changing market.
You don't need perfect credit to get approved for an auto loan. But, if you've recently applied for a car loan and were denied, you may be thinking that your bad credit is in the way. The good news is that there are lenders out there willing to work with you, but finding them can be a challenge.
There are fundamental differences between a bad credit car loan obtained through a franchised new car dealer and the type of loan offered by tote the note used car lots.
Sometimes, it's good to get back to the basics. For today, at Drive Murfreesboro, that means discussing the difference between special finance car loans and buy here pay here (sometimes called “tote the note”) car loans. Although both loans are part of the subprime car loan market, there are marked differences between the two. Here is a description of both and the advantages and disadvantages of each type of loan:
I'll ignore the dare and go straight to the truth – not everyone gets approved for a bad credit car loan and here's why…
Charles Higgins has been in the automotive industry now for over 17 years. He has built a career by helping people with unique credit situations get financing. Charles believes everyone deserves the chance to build their credit while driving a reliable vehicle. Contact Charles today for your all of your credit needs.