BuyingCarswithBadCredit.com – Everyday in America, thousands of people file for bankruptcy, foreclosure or have a repossession. This leaves thousands of fresh new faces that have a wrecked credit history and are in need of auto financing, at some point. It may not be right when the bankruptcy is over, but within a few years, most people trade vehicles and need something newer. Cars just don’t last forever, but it sure seems that car payments do.
So if you’re one of those people that has had a recent bankruptcy and you’re needing to trade cars, there are a few options that you have to take advantage of. Some are recommended, some aren’t. Nevertheless, all will be explained so that you know exactly what you can do.
Buy Here Pay Here Financing
Well, this is a well known way of getting a car when you have really bad credit. These types of dealers will guarantee car finance to anyone that breathes, so long as they have a big enough down payment. If you have money down, a driver’s license, auto insurance and a job, you can get guaranteed auto financing at a buy here pay here car lot. Is it the least expensive way to buy a car? No – it’s one of the most costly. It is however, an option that you have.
Dealers That Specialize in Secondary Auto Financing
There are car dealers that don’t finance their own cars (like buy here pay here places), but do specialize in secondary or “subprime” auto financing. They do this everyday and can get most people approved. But, not all are created equal so you’ll have to look around and try a few on for size before you make a final decision.
Cold Hard Cash Money
If you can put away three or four hundred dollars a month for just 10 months, you can pay cash for a decent, reliable car that will get you from point A to point B. Not the way to get riding in style, but it’s an option. Dave Ramsey’s financial show has got a lot of information on doing just this type of thing – he talks about it regularly and advocates paying cash for everything in life, except for a mortgage (which most people just can’t do). If you can wait – that’s an option.
Online Auto Financing
There are loan companies and auto lenders that provide their services via the internet. While approval is not 100% guaranteed, it is very common for people that have had a recent bankruptcy to get good auto financing online. Approval is quick and simple and with lenders competing for your application, you stand pretty good odds of getting a good deal. Different websites offer different “approval numbers”, just make sure that you deal with one that is legitimate. Some online lenders have access to huge networks of companies that you can be approved with.
Buyingcarswithbadcredit.com has the tips you need for buying a car with bad credit without getting ripped off! Visit them today at http://www.BuyingCarswithBadCredit.com.
This article is copyright free.