Archive for November, 2010

The Dangers In Cosigning On A Bad Credit Auto Loan Application

Friday, November 19th, 2010

A cosigner is someone who cosigns on other peoples application for auto loans. And gives the auto lender the assurance that he would shoulder the responsibilities of financing the repayment of the auto loan that he has cosigned on should the applicant or individual that is taking up the loan default or fail in meeting up with the repayment of the auto loan that he intends taking up. Read More…

Important Stuffs That You Should Know Before Taking Up A Bad Credit Auto Loan

Thursday, November 18th, 2010

Often times, most folks who take up bad credit auto loans know nothing about taking up bad credit auto loans. As an individual who intends taking up a bad credit auto loan to finance the purchase of a brand new set of wheels, I believe that there are certain things that you ought to know or have knowledge of before going ahead to take up the auto loan that you intend taking.

Below are some the things that you should know before taking up a bad credit auto loan

Your Credit Score

As an individual who intends taking up an auto loan, the first thing that you should do is to get your credit checked. Getting your credit checked would grant you the opportunity of knowing your credit score and the kind of auto loan that you would be able to get approved for. For an individual who has bad credit or a credit score that is less than 500, a bad credit auto loan is most probably the only kind of auto loan that you would be able to get approved for.

The Lenders Lending Rate Or Lending Terms And Conditions

As an individual who has bad credit and intends taking up a bad credit auto loan, I would recommend that you should strive to ensure that you are conversant with the lenders lending terms and conditions. The benefit of this is that you would be well informed with what you might be getting yourself into by taking up a bad credit auto loan from the auto lender.

Problems Solved Through Bad Credit Auto Loans Refinance

Wednesday, November 17th, 2010

People always shy away from taking new loans after going for bad credit auto loans. The reason behind this is the fact that the high installments on the bad credit auto loans makes it difficult to even afford the necessities, let alone taking new loan for other facilities. However, there are ways in which these problems can be countered and cleared and one sure way is to refinance the loan. But, as aforementioned, people don’t want to take another loan to clear off their prior loan which is why the following lines provide information on what other problems are solved after refinancing. Read More…

How To Secure A Bad Credit Auto Loan With A Credit Score That Is Lower Than 400

Tuesday, November 16th, 2010

Most auto lenders would not finance you with a bad credit auto loan if you have a credit score that is lower than 400. However, as an individual who has bad credit or a credit score that is less than 400, and intends taking up a bad credit auto loan, I would recommend that you should take the following steps. Read More…

Should Auto Loans Be Paid Off Early?

Monday, November 15th, 2010

Apparently this question is asked for all kinds of loans, even auto loans, should one pay off his/her loan early? Well, the beliefs and advices differ a lot as some say one should strive to clear the loan off early while others state that the loan should be carried to the loan term. The main benefit of paying the loan off early is that the title of the car is transferred that much faster and the applicant doesn’t have to call the car someone else’s. However, this still doesn’t state whether auto loans should be paid off early or not. Well, the decision should be made according to the interest rate charged. Read More…

Small Deposit Auto Loans

Sunday, November 14th, 2010

Most folks who have excellent credits and have being granted approval for auto loans, are often time unable to go through with taking advantage of the auto loans that they’ve been granted approval for because they lack the funds to finance the down payment that is need to properly secure the loan. Read More…

Seasonal Auto loans

Saturday, November 13th, 2010

As an individual who intends taking up an auto loan to finance the purchase of a car, although taking up an auto loan can be quite challenging, there are certain times of the year when taking up auto loans can become more advantageous. When it comes to taking up auto loans, taking up an auto loan at the end of the year is one of the wisest financial decisions that you can ever take. Read More…

Importance Of Getting Auto Loan Quotes Before Applying For Auto Loans

Friday, November 12th, 2010

Taking up an auto loan is a very important and serious financial decision that you should never take likely or in ignorance. Hence as an individual who intends applying for an auto loan, it is recommended that you should be well informed before taking the decision of taking up an auto loan. Read More…

How To Know If You Are Eligible To Take Up A Bad Credit Auto Loan

Thursday, November 11th, 2010

Although a bad credit auto loan is the sort of auto loan that an individual who has bad credit can take up whenever he is in need of funds to finance the purchase of a car, it is not all who have bad credits that are qualified or eligible to take up bad credit auto loan. Read More…

Income Required for a Bad Credit Auto Loan

Wednesday, November 10th, 2010

With the introduction of bad credit auto loan facilities, the position held by credit score as the sole decider of the loan approval has changed a lot. Now, applicants are not judged by their credit score solely as people with bad credit score can also get approved from special lending institutions. This means that lenders need some other entity which can help them decide whether the loan should be approved or not or what should be the charged interest on a bad credit auto loan. Nowadays, the thing which is seen most is the income of the applicant. Although it is a thing which can change over time, the income still helps a lot in deciding the approval or rejection of the bad credit auto loan. Read More…