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Mon, Jul 21st - 1:34AM

No Money Down Auto Loans bring an end to misery of Bad Credit Car Buyers

Buying a car without down payment is a task for a brave bad credit borrower! Auto buying process can be stressful, especially when it comes to the 'devilish' down payment. Do not lose sleep over down payment amount because you can avoid it. When you don't have sufficient money or do not want to make down payment, you can opt for no money down auto loan program.

Work on Things that can be controlled

When you are applying for bad credit no money down car loan program, do not worry about bad credit. Many Americans with bad credit history buy their favorite car without down payment. How do these people manage it? They focus on their strong factors and do not take tension of bad credit.

Most car loan experts will suggest you to improve your credit score. But, it is not possible to improve it overnight. Also, convincing a co-signer is extremely difficult. Here are few things that are possible and can improve your approval chances.

Pay-slips/Tax Details

Because of the competitive auto financing world, lenders are willing to ignore your troubled credit history. They are ready to make peace with your past if you earn a satisfactory income today. You can provide a copy of your current pay-slips. If you are self-employed, your tax details will work for you.

Employment Verification Letter

Only income is not important. What matters is a REGULAR income. Lenders are interested in your job because it guarantees regular monthly payments. So, ask your employer to write an Employment Verification Letter. A self-employed car buyer can produce his business details for the same.

Lower Debt To Income (DTI) Ratio

Along with job and income, lenders want to know about your debt. It will help them in ascertaining the situation in a better light. Your DTI ratio will show the lender whether you will be able to manage additional debt. For this keep this number on the lower side. Pay off few debts to improve your DTI ratio.


There are many alternatives for lowering your loan amounts, other than down-payment. You can achieve this goal by using your old car. If there are no liens on the car, give it to the dealer. The dealer will establish the value of the vehicle and deduct the same amount from the total cost of a new car. Thus, you will be able to make down payment without paying a single penny out of your pocket.

Applying for No Money Down Auto Loans? Apply for Gap Insurance as well

Remember to buy gap insurance. It will be helpful when your car suffers the total loss. When a car is written off, depreciation lowers its value. And, you will owe more money than you will receive after selling the car.

When you make down payment, you pay for depreciation. But, without a down payment, there will be a huge gap between the car's value and the amount owed. Gap insurance will pay for the difference between the two.

So, these are the ways in which you can get the best deal on no money down car loans with bad credit. Do not worry about your bad credit score. Work on the factors mentioned in this loan guide, and you will get the car of your dreams.

Car Destination is your destination for getting no money down auto loan at affordable rates. The Austin based bad credit low rate car financing company has experience of providing loan options to bad credit buyers across America. So, apply without apprehension.

All the best for your car with no down payment at all!

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Fri, Jul 18th - 12:40AM

Lowest Rates on Bad Credit Auto Loan – The Truth behind it

“Lowest Rates for Bad Credit People”

“Bad Credit Okay”

“Got Bad Credit? It’s OK”

“Cheapest Rates for Poor Credit”

“2.44% Auto Loan Rates for everyone”

Such myths are propagated by lenders. But, don’t get fooled by these marketing gimmicks. Getting lowest market rates on auto loan is not possible with bad credit history. Even though lenders market otherwise, credit history is an important factor for determining your credit score.

So, forget lowest rates. The lowest prevailing rate in the market is reserved for people with perfect credit history. Most lenders offer cheapest rates to car buyers with credit score more than 680. So, what should you do when you are not desired by the lending community?

Well, it’s simple. Don’t get lured by these advertisements. Even though lowest market rates are not available for you, you can certainly get affordable rates. You can improve your loan application and get better rates in comparison to other bad credit borrowers. Here’s your low rate guide when bad credit history seems to be your constant partner.

Be Realistic

Don’t think you can buy your favorite Lamborghini or your BMW now. You must take baby steps when you have bad credit history. Buy a reliable used car that can take you places and is low on maintenance. After your score improves, you can increase your car budget.

Remember that a bad credit buyer gets higher auto loan rates. And, if you opt for an expensive car, your loan amount will increase exponentially. So, choose an affordable vehicle and make your loan affordable.

Be Prepared

It doesn’t make sense to plunge into the auto financing world without thorough preparation. If you do so, your credit score may end up more bruised than before. So, learn your finances. Know how much monthly payments can be made by you. It will help you in staying on top of the loan deal.

*Note- If you are not in urgent need of an automobile, you can start improving your credit score. This can be done by ordering your copy of credit report. Check it and remove errors (if any). Also, pay off few debts to better your score. Remember that this strategy will take at least 6-7 months as improvement in credit score takes time.

Only work with the Expert

You are facing constant rejection because you are applying with wrong people. Even though they advertise “Easy Approval Criteria”, most banks and credit unions check every aspect of your finances. They don’t approve auto loans of people with blemishes on their credit reports. So, stop wasting your time with such lenders. Instead, go for sub-prime lenders.

Also, don’t be in a hurry to submit the application form. Ask the lender about ways in which you can increase the probability of getting affordable approval. Here are a few common things that will get you lower rates on bad credit auto loans:

Down Payment – Most lenders ask for down payment to lower the loan amount and the risk factor. If you do not have ready cash, you can opt for trade-in/sell your old car to generate money.

Co-Signer - Lender will have the assurance of regular payments which will definitely help in reducing rates.

So, this is how you can manage relatively lower rates on auto loan. Be strong. Don’t get conned by deceits. All the best for the best of rates!

Car Destination is your perfect destination for bad credit low rate auto loans. The company has been working with sub-prime auto buyers for several years. It has a competitive edge in the field of bad credit auto loans. Apply now and avail better rates.

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Thu, Jul 17th - 3:12AM

Grab a Better Car Loan Deal with this Dealership Financing Guide

Many people demonize auto dealers. They consider them frauds and avoid dealership financing. But, you must understand that dealers are like us. They are trying to earn their living. You don’t have to fear them. You can emerge successful in dealing with dealers.

Preparation for Winning the Deal

You can be a spontaneous person but that doesn’t mean you shouldn’t prepare for dealership financing. If you fail to prepare, you increase your chances of getting a raw deal. Here are five things which you must do before going to the dealership lot:

1. Prepare a Budget

You must know your spending limit. It will aid you in eliminating expensive cars. Also, it will help you to choose the right dealership financing program.

2. Check your Score

A credit score doesn’t remain constant. It changes over the period of time. It is possible that you may no longer be having a bad credit rating. Remember that if you fail to check your credit score, the dealer may take advantage of your ignorance. He may charge higher rates under the pretext of your terrible credit history.

3. Know the Kind of Car you want to buy

It is very important to have a basic idea about the car you want to buy. Before leaving your home, find answers to these questions. It will help in avoiding cars that don’t suit your lifestyle.

• Are you looking for a station wagon or a SUV?

• Which car will be appropriate for your geographical area?

• Who will be using your car?

4. Down Payment

Most dealers require down payment from a car buyer. They want to check your financial condition and ability to make regular payments. So, it is wise to start saving for down payment amount well in advance. It doesn’t make sense to opt for high rate personal loans for putting money down.

5. Co-Signer

Co-signer is a requirement if you have really bad credit score and a bankruptcy in recent past. You can ask someone with a good credit score to become your co-signer. A co-signer reduces the loan rates. So, it is advisable to bring a co-signer even when you have an average credit score.

So, these are the important things that you should consider before going to a dealer. Do keep in mind that this preparation guide makes you ready for dealership financing. So, make sure that you take advantage of it.

Car Destination will help you with your dealership financing program. The company doesn’t consider bad credit history a problem. It has approved several bad credit dealership financing applications and helped bad credit buyers in improving their credit score as well. Apply now.

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Sun, Jul 13th - 10:59PM

Why should you get Guaranteed Bad Credit Auto Loan Today?

Want to buy a car but unsure of approval because of your bad credit history? Well, you are not alone. Most Americans have at least one problematic transaction on their credit report. It may be anything like a late payment on a credit card or a missed payment on mortgage. Bad credit is very common and so, do not worry about it. You can get guaranteed auto financing approval with bad credit score. Think it is a joke? This article will prove you wrong.

The Odds are in your Favor

Let’s take a trip down the memory lane. A couple of years ago “sub-prime” was considered a taboo. After the recessionary debacle of 2009, asset managers swore off “sub-prime loans”.

But, things change quickly in the financial world. Sub-prime loans have become extremely popular today. Half a decade ago, bad credit auto loans presented only 10% of the total car loan market. Today, the number has increased to 33%. Financial Times also mentioned that 10% of today’s loans are provided to “deep-sub-prime” borrowers. This means getting your auto loan despite extremely bad credit score is totally viable.

Experian Automotive declared that the market share for non-prime, sub-prime and “deep sub-prime” loans for new vehicles is 34.1% in the first quarter of 2014. It is a jump from 32.8% of the last three months of 2012. This means the same lenders, who once thought sub-prime was a bad omen, are now providing bad credit auto loans in high numbers.

Why are YOU the Preferred Choice?

Lenders, banks, financial companies (including “captive” financing companies of Ford and Toyota, etc.) are attracted to the sub-prime market because of combination of several factors. Here is the list:

Automotive Sector is Important

Since 2009, expenditure on motor vehicle has exceeded other consumer spending. Also, expenditure of motor vehicle accounts for 1% GDP whereas it is responsible for nearly 15% GDP growth during the same period. This shows that auto sector is very important for the economy. And, providing easy access to loan is the best way to help this sector.

Ultra-Low Interest

Lenders are able to get funding at affordable costs because of low-interest economy. This gives them opportunity to offer auto loans to several people and make huge profits. Interest rates on bad credit auto loan is high which is why, lenders are drawn towards it.

Wall-Street Fascination

As the interest rates are low, investors want something that can provide high returns. They are fascinated by asset backed securities like car loans because they deliver better than other mortgages. This fact is a huge motivation for lenders to provide bad credit car loans without down payment.

Even though there are talks about the “sub-prime bubble burst”, investors are not worried about it. They believe that Americans love their car so much that they won’t let it repossess. They know that it is comparatively easy to make payment on car loans. And, lower delinquency rates have proved these assumptions.

So, these are the reasons why getting guaranteed auto loan approval will be easy for you. The current situation is really beneficial for bad credit buyers because it provides them access to easy loan programs. So, don’t wait anymore. Get guaranteed bad credit auto loans. The time is now! provides bad credit guaranteed auto loan approval to bad credit buyers. It ensures that bad credit borrowers get access to easy approval and affordable rates. Apply now and become part of a large group of happy customers.

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Tue, Jul 1st - 12:37AM

The Answer to your every Auto Financing Need

For car buyers, auto financing seems to be the source of incessant worry. But, now you don’t have to take tension of your bad credit score, managing down payment amount or finding a co-signer. Car Destination is the perfect solution for your auto financing needs. The company, that has a nationwide presence, provides a large variety of car loan programs.

The company has special car loans for people with bad credit history. It has student auto loans for those college students who are having difficulty in finding a loan. No down payment and no co-signer alternatives are available with Car Destination. It has low rate car financing for people with good credit and stable income.

So, don’t worry. No matter what auto financing program you need, Car Destination will provide it within a couple of hours. Apply now and get ready to own your favorite car.

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