Monthly Archives: July 2018

Options For Purchasing A Vehicle With Bad Credit

One of the bigger purchases that you will ever have to make is when you decide to buy a new or used car. When you are looking to get a new car, you will likely find that the prices of a car make it hard to pay for the entire vehicle cash. To buy a car, one of the options that you will have would be to take out an auto loan. Similar to any other type of lender, banks that provide auto loans will pull a credit score for the borrower. If you have poor credit, the letter might not provide you with the loan. However, there are several ways you can get still get a loan to buy a car, even if you have poor credit.

Get Dealer Financing

One option you have for a bad credit loan when you are looking to get a loan to buy a car is to get a loan from the dealership. Most major car companies today have their own financing departments that can provide loans directly to buyers. Car companies are often willing to offer loans to people will lower credit scores as it will help to ensure that they make the car sale. However, these rates and fees tend to be higher than loans provided by traditional banks.

Put More Money Down

When you are looking to make a purchase on a new vehicle, most lenders will expect that you put forth some form of a down payment. When buying a car, a down payment is typically around 10 to 20% of the total purchase price. While this is the standard for someone that has good credit, those that have bad credit could still obtain a loan if they’re willing to put forth a larger down payment. If you can afford a down payment of 30% or more, you will be perceived as a lower risk and could receive the financing you need to buy the car.

Co-Signor

As with any type of loan, a great option for getting a loan with bad credit is to get someone to sign the loan with you. If you have a friend, spouse, or other party that is willing to co-sign the loan with you, they will be taking on responsibility for the loan. In the event that you miss a payment, the co-signor will be obligated to make the loan current. Because of this, if you have a co-signor that has a good credit score, you will be able to qualify for an auto loan even if your credit is poor.

Shop Around

Finally, when you are looking for an auto loan when you have poor credit, you could obtain a loan if you are willing to shop around and find a great loan. There are many different banks, credit unions, and finance companies that are active in the auto lending industry. All of these companies have different methods for underwriting a car loan. Even if you have poor credit that leads to a rejection from one lender, another lender may still be willing to offer you a loan. Not only will then help you to get approved for the loan, but you could also receive a better interest rate.…

A Quick History of Services

Why Go for Vehicle Service Warranties for Your Used Car

Not so many purchases happen to be as important and heavy an investment as that of a car, the purchase of a new vehicle being probably second to that of a home. A car will be such an important asset to you as a professional in your career and as well be an important asset to your family. The vehicles we own and ride in are the means we use for the need to connect to the rest of the world and as such in the event that we happen to be without them, we surely get to feel the pinch in costs and the deals of frustration that these times come with.

Looking at the purchase of used or second-hand cars, as a buyer you will be taking some risk. Irrespective of the fact that the purchase of the used vehicles happens to be one of the perfect ways that as a buyer of car you will be able to make the most of the purchase, the reality you still need to appreciate is that used cars at times have some issues anyway. The most important question that remains in the minds of many is that of the significance of buying an extended warranty when one goes for the purchase of a used car. In a general sense, this is more than an important consideration you need to ensure that you have provided and in the event that you happen to get the right one, you will appreciate its worth to the last penny.

Top of the reasons why it is so necessary for you to get an extended vehicle service warranty when you are making a purchase of a used car is that of the peace of mind that it brings you. This is mainly for the fact that with the warranties on and valid, you will have the protection that you need should anything funny come up with your new purchase of used car. As a matter of fact, as a buyer of used vehicles, the last thing you will want to hear of after having put in such a hefty sum of an investment in the purchase of a used vehicle is to be called on to immediately start fending for the repair and maintenance needs of the automobile.

If at all you are looking for the best and easiest ways of making a purchase of your vehicle service warranties for your car, one of the best places to get them is from the dealers for used vehicles that you will be making your purchases. Vehicle service warranties are of two kinds in their classes and these are the ones that go with the mileage and those that are limited by the years of use.…