banner
 
Online Bad Credit Automobile Finance Auto loans online is the most effective and less time consuming way to get approved for car loans for all credit types including bad credit. You get free no obligation quote where you get approved in minutes, donít have to pay any application fees.

  Home >> Blogs >> Guaranteed Auto Loan - Ways to Get Approved

this user is offline now  easyautoloans
Send message

Subscribe



Categories:
  Automotive

Archive:
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011

Who Gives Kudos:



 

   [04 Jul 2011 | Monday]

Guaranteed Auto Loan - Ways to Get Approved

Are you stuck with your bad credit scores? Are you wondering about how to get the auto loan? It is generally uncertain whether you will get your auto loan approval or not and if you are having poor credit scores it adds to your trouble. In such circumstances, guaranteed auto loan could be the way to your rescue.

When you are trying for guaranteed auto loan, traditional financial institutions and banks are simply out of question. Even the credit unions are not very approachable. Yet you have some options to choose from like private lenders, dealers, online auto financing companies, etc. However, you have to keep the following things in mind:

Down Payment: If you have hefty salary package and enough cash reserve to pay a very big amount for the down payment, then you can level up with the dealer to give you the desired loan amount. In other case, it might be a problem. High down payments reduce the risk that the dealer is willing to take. Hence, he will be willing to give you the loan even when you fall in the 'risky' clientele.

Lenders: When you are looking for lenders, do not be selective. Approach every dealer and manufacture you know. Try to get hold of details of as many car loan programs as possible. Check the advertisements and discount offers in the newspapers, classifieds. You never know which loan program of which lender may work out for you.

Paper-work: A lot of times, more paper work and declarations are required for loan application of this kind. The lenders try to ascertain how much you can actually afford to pay on the monthly basis. They can ask for your pay stubs, credit reports, financial papers, tax clearances and others to get a clear picture of your financial standing. And if you have filed for bankruptcy, then they will also check whether you have permission from the trustees to incur new debts. So it will be convenient for you if you actually keep all the papers together to avoid last minute mix ups.

Interest rates: It is a fact that if you can pay high down payments, the rate of interest will be lower. Interest rate is also one of the reasons to seek as many loan programs and lenders as possible to compare and choose the best deal. Some of the lenders will charge interest rates so high that it is not worth applying for the loan. Moreover, if you have good credit scores, the interest rates are out to be lower. But otherwise the lender will try to take advantage of your position and make you shelve out more.

Collateral: It may happen that you have bad credit. In general, it will be difficult for a person with bad credit to get a guaranteed auto loan. But if the person has asset which he can show as additional collateral, the dealer may agree to bring down the interest rates.

Thus, we see that all is not lost and there are ways to get your car loan with guaranteed approval.

Mood:
12:08 PM - 0 Comments - 0 Kudos - Add comment 

  Comments
 
|
|
|
|
|
 
Copyright © 2009 - 2012 True2ourselves. All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.