What you should know before you buy!
It’s the best feeling when you are handed the keys to your new car. For some people this can be harder than they ever thought possible. Follow these simple keys and you will know that you got the best deal possible.
Manage Your Credit
One thing you should be aware of is your credit report. Everyone is the United States is entitled to a free credit report, so use the resources available to everyone to find out your standings. Review your credit history and fix any errors or bad habits that could affect your credit rating. In certain situations of really bad credit, dealerships will not allow the customer to choose the vehicle they want. Remember to get approved for a loan first and then shop around for the vehicle you want. Once you are approved for a loan make your payments on time and that will increase your credit score.
Know How Much You Can Spend
Expert budgeters already know this, but in these busy times not everyone has the time to do this. Tracking your budget doesn't have to be an expensive process or time consuming one. Programs like Microsoft Money are a great tool or build your own with a spreadsheet. To fully understand what your car payments might be our loan payment calculator is a great resource to get you started.
Look at the Big Picture
The terms of your loan will determine how much you pay now and later. Putting money down on your car loan increases your chances of getting approved and you are considered by more lenders, so you are able to get the best deal possible. Most banks that specialize in bad credit loans understand that bankruptcy happens and are willing to work with you to get you back on the road. Don’t let these minor setbacks discourage you in any way. If you have a consistent stable income (a job for 2 or more years) and the same address for 2 or more years this helps you find a lender. The consistency of a job and residence is taken into consideration for most lenders.
Having a co-signer can also help you get approved for an auto loan, but does not always mean you are guaranteed. Paying your loan on time will always help your credit score and the next time you are in the market to purchase a vehicle that will make the process easier.
This sounds like common sense, but it is often overlooked. The most important thing is that you don’t have to get your loan from the dealership you walk into. BadCreditCarLoansNow.com is connected with thousands of dealers and lenders to help you shop around to find the best deal possible. Our bad credit experts work hard, so you don’t have to and waste your time in dealerships. Don’t walk into a dealership without the knowledge of what you can afford and are approved for. This gives you the bargaining power to get the exact vehicle you want.
Avoid Prepayment Penalties
As John Lennon said "Life is what happens to you while you're busy making other plans"
That quote could not be truer and having flexibility is important to have. Your auto loan should also be flexible to help you deal with the changes in life. Finding a lender that will help you through changes is part of what we do, so you can make extra payments or pay off the loan entirely without any penalties. It’s important to read the fine print because some penalties are not always called "penalties"
Having a solid plan in place and doing proper research into your credit will ensure that you get the best auto loan possible. Also, having a team of experts on your side doesn't hurt either. Good thing that BadCreditCarLoansNow.com is available 24/7 to help you to get on the road as soon as possible. Don’t delay Click Here to apply and start driving tomorrow!