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Recent Articles In Bad Credit

Auto loans while in bankruptcy
  When filing for bankruptcy and making a fresh financial start, a car purchase is often part of the plans. Trustees and lenders recognize this and many people are able to get a car loan while in bankruptcy, or shortly after, depending on the type of bankruptcy for which they’re filing.   Car loans and Chapter 7 bankruptcy Most likely you’ll be filing for Chapter 7 or Chapter 13 personal bankruptcy. Under Chapter 7, the debtor’s non-exempt assets are liquidated to pay creditors. The process normally takes four to six months from filing until debts are erased and the bankruptcy… Read More

Pros and cons of ‘buy here, pay here’ dealerships
  Some dealers claim “we finance anyone,” but it may come at a price Other options include applying for preapproval before you shop   What are “buy here, pay here” dealerships? “Buy here, pay here” dealerships are auto dealers that not only sell cars but effectively act as the bank, too, by providing in-house financing, typically for buyers with bad credit.* Interest rates can be higher than other lending options and customers make car payments directly to the dealership. They’re different from traditional car dealerships that request financing from prospective lenders, with customers generally making payments to a third party.… Read More

How to get a car loan with bad credit
  8 Steps to getting on the road despite poor credit history How do you make the best of a bad credit* situation when you need to buy a car? Poor credit may pose some unwanted challenges but there are many ways to maximize your chances of getting approved for an auto loan, and a competitive rate for your circumstances. Here’s how to approach it in eight straightforward steps.   1. Know what to expect It helps to know up front that consumers with bad credit typically encounter higher interest rates than those with better credit and so, if approved,… Read More

Getting a car loan with bad credit really could be easier than you think
You might think getting a car loan with bad credit is a fool’s errand.* Poor credit can cause some bumps in the road but it may still be possible for people in this situation to get auto financing that won’t break the bank.† Credit history is one of several factors that may affect a lender’s decision on a loan application. Looking at where your credit stands could help you better understand your position when applying. The Federal Trade Commission (FTC) recommends consumers get a copy of their credit report before any major purchase, which can be obtained for free from each of the… Read More

How to get subprime auto loans the right way
  When you have bad credit,* it can seem like your options for auto financing are limited, and that can make it easy to accept the first deal that comes your way, especially if it’s a hard sell. While consumers with bruised credit don’t have the same choices as those enjoying good credit, they may still improve their position, and avoid poor financing opportunities, by approaching subprime auto loans the right way. Getting informed and selecting a lender Choice of lender is a major factor in this. At RoadLoans, as a direct-to-consumer, full-spectrum auto lender, we pride ourselves on offering… Read More

How to finance a car with bad credit
Financing a car under normal circumstances can be a task in itself, but knowing how to finance a car with bad credit comes with its own complications. Luckily, this situation is fairly commonplace and there are some useful strategies that help when trying to finance a car with bad credit.* A useful step for the borrower is to acquire a copy of their credit report, according to the Federal Trade Commission (FTC). Going through your reports yourself will ensure all of the information about your credit history is correct. Credit history is one element, among many, that lenders may use… Read More

Auto finance companies for bad credit
  If you feel stuck in a bad credit situation and unsure how you will find the auto financing you need, the car-buying process may be something you dread.* Auto finance companies for bad credit are geared to potentially help, however, and may be able to get you moving. There are numerous options to explore, such as banks, credit unions, financial institutions and dealers. A lender where all credit types can apply Online lender RoadLoans, a division of the Santander Consumer USA financial institution, accepts applications from people with all types of credit, even those with no credit or who… Read More

Credit union loans for bad credit: What are the options?
  Credit unions are popular. In fact, 98 million people in the U.S. are members, according to the National Credit Union Administration (NCUA), and they are one option to consider when weighing lenders for a subprime car loan. Whether credit union loans for bad credit are suitable for you may become clearer when looking at some of the main options together.* Credit union loans for bad credit – a closer look Direct-to-consumer and indirect financing are two of the avenues available when seeking auto loans, and credit unions are among the direct providers. They are not-for-profit organizations, owned and operated… Read More

Some of the best auto loans for bad credit: how to know
When the process of buying a car and a poor credit situation come together you naturally end up wanting to find some of the best auto loans for bad credit.* The characteristics of the best auto loans in such cases are likely to depend on your own particular circumstances and financial position, but here are some basic points that could help the search. When looking at interest rates, be realistic with your expectations. You can still try to find a competitive interest rate for your credit situation though. An auto loan that works well for you will have a monthly… Read More

Buy a car with bad credit – Potential benefits to getting on the road
Few things provide a sense of independence like buying your own vehicle, but poor credit is often perceived as putting the brakes on this dream. It’s not ideal, that’s for sure, but for people looking to buy a car with bad credit there may be options, like lenders that specialize in subprime loans, for example.* And if financing is right for you and you qualify for a loan, there could be some great potential benefits, big and small, to having your own vehicle. The possibility of getting into a car sooner rather than later with the help of a loan… Read More