subject: Find Auto Loans At Low Interest With A Poor Credit Score - 7 Tips [print this page] Find Auto Loans At Low Interest With A Poor Credit Score - 7 Tips
There is no question that owning a car is need, not just a want, for most people today. Car ownership allows a person to do things of which they would not otherwise be capable. Just being able to get to work, go to the gym, visit friends & family, go shopping, or visit the doctor would not even be possible for most of us if it were not for the automobile.
If you are currently without a car or just need to buy a new one, you may be relying on friends, family or even public transportation in order to get by on a daily basis. These alternatives to owning a car can be difficult for a lot of reasons.
The bottom line is that, if you want to stop being a burden on those who care about you - and you want the convenience of having a car (something that riding the bus just doesn't do) - you will need to buy your own car.
Of course, there is probably a reason why you have not yet purchased a car of your own. Unless cash flow is an issue, it is most likely that the reason you have not bought a car yet is because of your poor credit score.
To find auto loans at low interest with a poor credit score, here are 7 tips:
1. Choose a cheaper car:
A less-expensive car means a lower loan amount, which is easier to get funded.
2. Find the money for a good down payment:
The more money you can come up with for a down payment, the better your chances of finding a low interest car loan.
3. Be ready to show proof of income:
Lenders like it when you have a job. Bring in your pay stubs or prepare to fax them to an online lender.
4. Approach only poor credit auto lenders:
Why not work exclusively with lenders who advertise themselves as poor credit lenders? Makes your job that much easier.
5. Do your homework on your credit report:
Run your credit report and make sure you understand all of the good - and bad - factors that make up your credit score.
6. Negotiate relentlessly:
Don't just take their first offer - negotiate instead. It always pays to see if they can do better than their first offer.
7. Do not sign your loan contract without reading the fine print:
As with any contract, read the fine print before signing!
Follow these 7 tips as you find auto loans at low interest, even with a poor credit score.
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