If you’ve got bad credit and are looking for a guaranteed car loan online, you’re not going to find this at just any website and certainly need to be careful about what you do. There is a way to do this and I’ll outline the options that you have, both on the internet and out in the world.
In-House Financing.
There are dealerships everywhere that offer in house financing. This is commonly referred to as buy here pay here car lots. Not the best option as the finance charges are usually incredibly high.
You have little option as to which cars you can choose from. Down payments are usually required and the price of the car is normally above retail. You’ll pay a lot more for a car at a buy here pay here car lot than you will at a normal dealership. However, financing is guaranteed if you have a down payment, in general.
Online financing sources.
There are a few websites online that boast a 99% guaranteed approval rating. They have numerous lenders that specialize in bad credit and once they receive your information, will contact those lenders and pair you with the lender or two that will approve you.
You have the choice of which offer you accept, if any and you have the choice of where you buy your car. This opens up a good opportunity to save on interest rates, eliminate the need for a down payment and pick out any car that you want, from wherever you want, so long as the price does not exceed the amount that you are approved for.
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Tags: Bad Credit, Online
Posted November 5, 2009 by Admin under Financial News