Having horrible credit or a very low credit score isn't the end of the world. There are all kinds of offers on the internet trying to convince you that there is some secret to improving your credit score.
There isn't.
Saturday, November 16, 2013
Financing a Used Car With Bad Credit
Financing a used car with bad credit or a low credit score can leave you wandering around in a daze trying to discern what that crazy car salesman was trying to explain to you. When numbers get thrown around like a pinball machine, used car finance terms can get really confusing. Although it may take an MBA to understand the exact details of how it all works, it's very simple to understand the basics and get a reasonable deal.
Cash For Clunkers - A Real Clunker!
With the end of the government Cash for Clunkers program in sight, auto dealers are asking "where's the cash". Around the U.S. dealers are speaking up.
Why You Don't Need a Down Payment Or Any Money Down to Buy a Car With Bad Credit!
There is no need for you to have to put down a down payment when buying a car with bad credit. There's no need for it unless the price of the car is TOO HIGH! The only time a down payment is needed for a bad credit car loan is if the lender tells the dealer that they won't L-E-N-D as much as the dealer is trying to S-E-L-L.
How to Trade in a Car With Negative Equity & Are Upside-Down
Being upside down on your trade in is very, very common. The term upside down means the same exact thing as negative equity. This means that you owe more on your trade in than it is worth (or so the dealer says). So, how do you trade in a car with negative equity?
With people financing vehicles for longer terms to get lower payments, some as long as 7 years, it's very common to have negative equity. This is also true due to dealers putting people in cars that are not worth near what they are being sold for. Dealers call that "knocking someone's head off". The way that this is done by defrauding the lender by describing the vehicle on the loan application as having an upper end trim line, bigger engine or more features than the vehicle really has. This adds "loan value" to the car and allows the dealer to sell it to you at a higher price. You end up oweing much more for the vehicle and in some cases, thousands of dollars more than it should have ever been sold for in the first place.
My Car Payments Are Too High! What Can I Do to Lower My Car Payment?
To be honest, I don't really know of anyone that thinks that their car payment is too low. Most everyone thinks that their car payment is too high, mine included and I get great deals on cars and car finance. So, what can you do when your car payment is too, high? Although some options may seem a bit intimidating, it's actually incredibly simple to do...
Pay Down Your Loan.
The Bad Credit Auto Loan is Back During the Recession - Take Advantage of It
By Jack Dreask
Are you one of those people that has been spending their life wishing they could get enough money to pay for that special car they have been wanting for years and years but unfortunately have never been able to get together enough money to actually go out and buy it? If this is you then there is now an easy way you can get this money to buy your dream car. Even if you find that you keep getting turned down for bank loans or a loan from a private company, there is someone out there that will say yes to you and give you the money to buy that car you want. It does not matter if you have bad credit history, not so good credit history or even no credit history. It does not matter you have been bankrupt in the past or have had your house reposed. These companies will be able to find you somebody who can lend you the money you need to get that car you want.
Can I Refinance My Car With Bad Credit?
Refinancing your car with bad credit is actually very simple. The key to being able to do this and to actually get lower car payments without having to put any money down, is using a good lending source. The process is the same as obtaining a duplicate car loan, it's just that you have to find a lender that will approve you for a lower interest rate. There are a few really good sources online that allow you to do this easily and with minimal headaches.
Can I Get My Car Deposit Back That I Gave the Dealership?
Requesting down payments and cash upfront for car loans is one of the oldest tricks in the book that car salesman and sales managers will use to try to control a customer. It's thought that in the car business that whoever holds the cash, holds the deal in their hands. In many ways, that's true. So, what do you do when a dealer has your money that you've given them as a deposit and can you get your car deposit back?
Although the law varies from state to state, unless you've entered into a written contract with the dealership or the seller to formally purchase the vehicle, then you are entitled to get your money back and can demand it immediately. You may find that a dealer tries to 'bluff' you into thinking that you've already made a formal commitment by writing a check or handing over cash. This is not the case however and you are entitled to get your money back.
Financing a Car With Bad Credit - Getting Lower Interest Rates & Better Payment Terms
Financing a car with bad credit can get quite a bit confusing to the average person that doesn't spend every waking day of their life processing car deals at a dealership. There are so many different terminologies that are used when a dealer or finance manager explains things to you that it can be thought of to put you into a daze. Dealers call it putting someone under "ether", or getting the "ether" up someone's nose. Basically, they try to confuse you with loan and finance lingo so you just get too confused to negotiate.
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