Easily Buy a Car With Poor Credit
Easily Buy a Car With Poor Credit
By Jason Lanier and Christopher Love
If you need to buy a car with poor credit, you’re certainly not by yourself. Millions of Americans have bankruptcies, repossessions and foreclosures, late payments, medical collections, judgments and the list goes on and on. Having poor credit is not the taboo that it used to be and fortunately if you need a car, there is help.
Just because you have a low credit score, doesn’t mean that you can’t buy a car with poor credit. Some lenders realize that you have a need… These days, you can’t just walk where you’re going unless you live in a very convenient area. You’ve got to get to work, to school, to the grocery store and so on. More and more loan companies these days are specializing in helping people with bad credit auto finance and I’m not talking about those buy here pay here lot kind of places. I’m talking about real, legitimate online loan companies that will get you in a new or used vehicle, regardless of your credit history.
If you’ve got your bills paid on time for the last 90 days, have your bankruptcy discharged or dismissed and have an income of more than $2200.00 combined household income per month, you can get approved for a brand new car. Now the interest rate won’t be 4%. It’ll be more like 9-12%, depending. It’s still reasonable and so long as you’re not trying to buy a $40,000.00 car, you don’t have anything to worry about.
Buying a car with a low credit score is much easier than you might think that it is…
The trick is dealing with finance companies directly and bypassing the dealer finance department altogether. There are lenders that will approve you for a payment amount based on your income. That payment amount translates into a total dollar amount that you can use to buy a car with either a dealership or from a private seller.
Buying a car from a private seller in the local classifieds or anywhere, has great advantages as you can save money on sales tax! Don’t let poor credit hold you back… there is help online.
Article Source: http://EzineArticles.com/?expert=Jason_Lanier
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