Getting the approval of the loan for your car with a bad credit

Know your credit card earnings before application

As your credit is bad? It is perhaps not as bad as you think. If you are in a vehicle without knowing your credit history: they are in their thanks. You can basically tell you what they want, and it will cost you when you have a high degree. Some car dealers will lie you and say your result is less than what the reason that your interest rate is too high. First, and above all more you know that your pointing credit cards. Rely not on the funds because they are not free to report your score. The money that you need for a comprehensive report with the client contain minor compared with what you might charge interest clueless. MyFico.com is a service that you all 3 scores.

You have your credit information. There is perhaps something there much influence on your interest rates. Some bad credit file can be corrected. First and foremost will be the bad points, you can dispute. Close all open credit cards you do not need or use. Rembourser refund or credit cards. Not blind to obtain a loan and went to or an interest rate based on factors that you can control. If your score is less than 620, you subprime buyers pay only the higher interest rates. Each lender has its own definition of what a subprime borrowers.

Apply online for a loan first.
There are a number of donors to finance subprime buyers. It is in your interest to obtain approval before entering the distribution to buy. This way you know exactly what you should pay interest. The concessionaire is not doing what best suits your interests and you will be able to pay more than you should. Buy, because the records in a lender lenders.

If you are familiar with the merchants to finance.

It's ok to the funding of your dealer for so long, that you are ready for their tricks. Do you have a copy of your credit information in their hands so that they do not lie to your customers. Know what the current rate of borrowing and them to know that you will not accept a higher share. Be prepared to stand up and, if they do not respond to your demands. Most dealers said, many lenders and when on their hard drive, they magasiner the best rate. A place in the aftermath of the interest rates on the cars BankRate.com is easy, because you have bad credit instruments does not mean that you should brime accept an offer, you are not satisfied. Suffice it to say, no, thank you, and then go with another broker.

Here is a list of questions that you, if you are in the office, in the financial world:

1st How accurate (in units), I will pay the price for the car?

2nd What is the total amount that financed?

3rd What is the amount in dollars I paid for the loan (finance costs)?

4th What is the exact amount of individual payments?

5th What is the total number of payments? Do not get vacuum cleaner bag sale in a 6 + Jahr ready to lower your payment.

6th Very important! If it is information on the quota neck approval of the financing through a third party? Reputation, the "subject to financing" clause in the contract. It is at this point that you nail. Whether you send home with a so-called approved deal and tell you a few days or weeks later, you know that the financing fell through and she did not agree that the sentence cited, but they found a lender that focuses on the loan to a interest rate higher. Make sure that the transaction is approved by the lender before the game. If there is a question, says the dealer that you again, and the car, when everything is regulated.

7th Is there a pre-payment penalty to pay if I use the loan sooner?

We recommend you for your car loan online, and take it to your dealer. This allows you to focus on the sales price of the vehicle instead of the monthly payment. You can also use your consent Online as leverage against a financial concession. If they can beat your approval of the loan, you can for your financing.

Buy Here Pay Here, as your last resort.

They have tried, all lenders and were rejected. You have your credit information and to know why you rejected. At this point, you have to decide how bad you need a car? It is a last chance to own a car. There are many "Buy Here, Pay Here" retailer not receive as much in an armed car, it is not to your needs. Be very sure that you are a used vehicle quality, or you are with a piece of scrap, which is in the shop more than on the road. Many small dealers buy unwanted car auction and wholesale trade, not in a very good shape. You have the possibility for any dealer who tried to sell a piece of junk-mile high. There are many large dealers sell cars of a high quality, funding to be able to offer. Always explore your options before you, whatever. You should avoid offering dealers + 20% from loans. They should be paid to the 18% or less.

The call in the bureaucracy, the acceleration of the process. Most dealers want the following items, if you have a loan with them. Have the following items in your folder when you come to the dealer. Drivers license, proof of vehicle insurance, the financial information (bank and credit card account information), social security number, references, proof of employment and salary slips, proof of residence, telephone bill currently a bill by electricity or other), and a deposit. We recommend that you call the first retailer to a precise list of what they require.

Find out what kind of payment? Does it have to offer, the payment or take payment over the phone or online? What is her residue policy? If you are late on a payment, you do not want to arouse, and your car was found the next day. Are they sell low quality one thousand vehicles? It is in their interest, the sale of cars on quality, but there are the dealers sell rebus. Are they against the funds? You want your good credit history with them to report to help to build Show your credit.

Repair and improve your credit!

Poor credit instruments can be defined. That takes time, but it's worth it. Although you are a great interest today, if you work hard on improving your credit for your next car is ready, very much lower. Be the repair of credit cards, which promise to quickly repair your credit. If you are using a company credit repair companies to ensure that they are valid.