Auto Finance Online for Bad Credit
No money down car loans and subprime auto finance do not usually go well in the same sentence for the simple fact that most lenders require a down payment. The amount of the down payment will depend primarily on what type of credit you have. Most auto finance companies will require anywhere from 10-20% of the vehicle cost. The more you can put down on a car, the greater your chances of approval will be. No money down car loans are primarily for people that have good credit, and even then they still have to pay for tax, title, and licenses fees.
Auto finance online is a great way to start your car buying process. The internet provides more information than most people will ever be able to look at. This is helpful when deciding which vehicle you would like to purchase by looking at all different types of makes and models. Most websites will give you the option of choosing year, make, and model producing a list of vehicles they currently have on their lot. This list will enable you to compare prices at other lots to see if the prices at the dealership are competitive.
For instance if you have bad credit in Portland Oregon and are going from dealer to dealer to apply for auto finance, make sure you call first to check and see if they offer subprime auto finance. Not every dealership does, and you don't want them running your credit if you already know you can't get an approval there. Having your credit run multiple times can lower your credit score, so keep it to a minimum.
Auto Finance is one of the quickest ways to repair your credit. You may pay a higher interest rate for subprime auto finance, but you will be on the road with not only a better vehicle, but to a better credit future.