Bad Credit FAQ

 

Frequently Asked Questions:

What if I'm Self Employed?

Being Self Employed in most cases is not a problem in an Application for a Bad Credit Car Loan.

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What if I have a Trade In?

Trade ins are welcome - running or not. If you owe money or have clear title we can help.

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What if I have a Reposession?

Many of our customers have had Repossessions in the past. Our business is helping you, our customer, re-establish good credit.

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What if I have a Bankruptcy?

Whether it's a discharged chapter 7 or an active chapter 13, we have many lenders that specifically specialize in auto loans for people who have this specific need. WE CAN HELP!!

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What if I have No Money Down?

We have Many Programs that either allow you to put Zero Money Down, or when a down payment is required, allows you to defer all or part of it.

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What is my Interest Rate?

Interest Rate is determined by the lender. In short, the greater the risk they feel exists, the more Interest Rate they will apply. However, in most States the law protects the consumer with a Lower Interest Rate than some of the Bad Credit Loan stories you’ve heard.

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What if I have a New Job?

This is mostly a myth. Everybody changes jobs. What they are looking for is your ability to make your Car Loan Payment.

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What if I'm Disabled or on Social Security?

Being on Disability does not hinder your ability to obtain a good Car Loan. As far as Social Security goes, this is a secure income to make your Car Loan Payment.

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How much Monthly Income do I need?

The usual minimum Income required is about $1200 per month. This varies from Bad Credit Lender to Lender.

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Do you report to the major Credit Reporting Agencies?

All of our loans and payment history are reported monthly to help you establish Good Credit. Some places will tell you they report but don't disclose that they wait until after their Car Loans have fully been repaid.

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What if I'm a First Time Buyer?

We have many programs for First Time Buyers.

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What if I'm Upside Down in my Trade?

In most cases we can get you a little extra help to overcome Negative Equity.

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How much will my Monthly Payment be?

Car Payments are based on a sliding scale of your income, amount of purchase, Interest Rate, term, down payment, etc. We always try to keep them as low as possible.

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