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Thu, Apr 19th - 2:43AM

Auto Dealership Is a Silver Lining in the Clouds of Credit Crises

After air, food and water, cars are the next necessity for surviving in America. Yes, all car lovers will be in sync with this statement. But, cars are getting expensive day by day which makes auto loans indispensable.

As always, many loan options are available for car buyers with good credit score. Now, do borrowers with an imperfect credit history have the same choice? Sadly, they are not offered loans by banks and other stringent lending institutions.

Why do lenders discriminate car buyers on the basis of their credit history? The answer is simple. Credit report manifests your pattern of availing credit and paying it back. It helps them decide whether you are a risky proposition or not. When you havenít paid your loan in the past and have a bad score, there are chances you wonít pay now. This is their logic to deny you loan.

When you have a no credit score, lenders donít have any precedence to judge you. You may make the payments regularly or you may not. There is a sense of uncertainty which makes you perilous. The case is worse for someone with bankruptcy. When you are declared insolvent and your property is used in repaying debt, your credit-repaying ability is greatly damaged.

But, all this was your past. It should never affect your present, right? If you have a bad credit score, does that mean your car dream is shattered? Will you never be able to buy a car if you have a zero credit history? When you wonít get an auto loan after bankruptcy, will your chances of improving your credit dwindle?

Your Ray of Hope

Well, you need not worry about all this anymore What if I tell you that you can buy your car and get a car loan from one single place? Yes, auto dealership is the place that provides you one-stop solution for all your car needs. You can get loans irrespective of your credit situation. This is perfect choice for improving your credit score.

Most of us shy away from dealership financing because of scams and other con-stories associated with dealership. But, you must know that dealers are like other businessmen. If they donít keep their customers happy, they are going to ruin their business. So donít write off dealership. Instead just stay a bit cautious and get the most of dealer financing.

Why Dealership Financing Is For You?

1. Dealers often offer 0% financing for the first year and several other schemes which can lower your loan cost.

2. Auto Dealership addresses all your car needs. Not only financing, repairs can also be done at the lot. This means you donít have to run around for several things.

3. Lenders want you to provide vehicle information like manufacture year, make and model, VIN, etc. before finalizing the contract. But, when you are getting your loan from the dealerís lender, this process will be done much faster.

4. As dealers have tie-ups with many lenders, you get to check several lenders in one go. This makes comparison easy and also lets you take a perfect decision.

5. Lenders get large amount of business from dealers. As the dealer has a huge network, there is high competition among lenders. So, you get special deals at the dealership.

6. There are many lenders in the dealer network. High means you get great rates and flexible loan terms.

7. When you avail a loan from a dealer, you get to keep your local lines of credit open. It is obvious that a bank or union wonít offer you another loan in a short span of time. So, dealership auto financing seems like a good alternative.

What Are The Requirements for Getting Dealership Auto Financing?

1. You must at least earn $1,000 per month.

2. Your employment term should be at least six months.

3. You must be living at your residence for at least six months.

4. Dealers do offer no down payment auto loans but to get maximum advantage of low rates, it is advisable to get at least 10%-20% down payment.

5. A co-signer can also work wonders for your loan application.

All these requirements are very easy to fulfill and are not very rigid. Because of less stringent approval criteria, dealership financing is a blessing for borrowers with credit issue. So, next time you decide to buy a car, think of dealership finance.


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Tue, Mar 20th - 12:21AM

Bad Credit Borrowers Can Buy Their Dream Car with Dealership Financing

Cars are not just a materialistic invention anymore. They are part of us and we absolutely love them. Americans are extremely emotional towards automobiles. Owning that perfect car is everyoneís dream but not every American has the privilege to fulfill it. And, what acts as an obstacle in buying that perfect car? Bad credit - Itís one of the most dreaded situation in the world of auto financing.

People have faced their worst financial fears in the past few years. There have been lay-offs which have made regular payments difficult. All this has resulted in bad credit scores. A poor credit score guarantees high interest rates and unaffordable monthly payments. This means you never get to satisfy your car requirements. But, itís time to say good-bye to these troubled times. Dealership financing is a ray of hope for troubled credit borrowers. Dealers understand that people are unable to purchase a car through credit unions and banks. Demand for bad credit loans is ever increasing and it makes sense to offer such a loan type. If poor credit is your story, dealers can help you.

Dealers and Finance

In dealership financing, dealers donít finance your car. They act as an effective link between lenders and borrowers. They have a network of lenders and banks and this network provides car loans. Also, dealers work with car manufacturersí ďcaptiveĒ finance company. This means you have greater chances of availing a bad credit auto loan because of several options.

How Can You Benefit From Dealership Financing?

When you have a bad credit score, lenders consider you very risky. They donít want to lose money and so, shy away from offering car loans. For a poor credit borrower, a dealership can be a great option. Other than this, there are several other advantages when it comes to getting a loan from dealers.

1. It is quite simple and a rather quicker option.

2. One stop shop solution for all your car needs.

3. Tie-ups with several lenders mean easier car loans.

4. Owing to stiff competition, dealers offer several low-rate programs.

5. Banks have stringent lending rules and it may act reluctant in future for another loan. But, if you opt for dealer financing, your car is used as collateral so you get to keep your credit options open.

6. Lenders ask for detailed information about the car. But, as the dealers know about their own lot, undue scrutiny can be avoided and you wonít be required to give all the tiring details.

Precautions to Avoid Any Frauds

Dealership financing is often considered a sham to con borrowers. But, not all dealers cheat borrowers. They want to continue business and satisfying their customers is the only way to remain in business. Interest rates would be high because of your bad credit history, but by no means unfair.

Not every dealer will con you, but it is always important to be careful. Solve your doubts every step of the way. Understand each and every aspect of the deal. If you are not confident of the loan contract, take legal help. Itís always better to be clear from the beginning.

So, be cautious and get that car you always wanted with the help of dealership financing. Your automotive dream should no longer be left to fate. Donít suffer because of bad credit history because your future looks great with car dealer financing.


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Sat, Mar 17th - 1:42AM

Get Low Income Car Loan and Donít Let Low Earnings Dampen Your Car Buying Spirits

Modern technology has gifted man one of his greatest passion Ė cars. Ever since the invention of steam engine vehicles in 1769, cars have been popular. Everyone is just floored by the beauty of a car.

Sadly, buying a car has become difficult. All thanks to high purchase prices of these beauties. Most new cars start from $20,000 and a good used car is also expensive. Also, the gas prices are increasing which makes car buying very hard.

The economy is reviving and people have just started getting their jobs back. Finding a high income job is still a challenge. This creates a very bad situation because a car is needed to reach your work place but you cannot afford it with your job. Lenders have understood this situation quite well and that is why auto loans for low income borrowers have been introduced.

Most lenders require you to earn at least $1,500 per month. But, you can avail these loans even if your income is as less as $1,000. Now, donít worry if you earn less than it because there are many other factors which decide your approval. Know them so that you can tackle them well.

1. Credit Score - Higher the score, better it is.

2. Credit Profile - Here the requirement is that it should be longer.

3. Term of Loan - You should try and keep it short.

4. Loan to Value Ratio - 70% -80% is optimum.

5. Down Payment - 10%- 20% would improve your chances.

6. Employment Term - At least six months.

7. Time at Residence - You need to be living at the same residence for at least six months.

8. Co-signer - Having a co-signer reduces lenderís risk.

When you have a low income, you must be better at these aspects. Now, it is quite possible that you have a bad credit score and earn less. For such a situation, get a larger down payment and search for a co-signer.

Now, as you have low income, it is essential that you donít go for a very expensive car. If you go for an expensive car, its payments would also be huge. To avoid them, you will have to go for an unnecessarily longer loan term. This will increase the chances of an upside down loan. Hence, a used car is your answer. Once you improve on your income, you can always buy your dream car. Right now, it is important to get you a car that works for you. When you go for a pre-owned car, donít forget to read the Vehicle History Report. Itís always good to know what you are getting into. Also, get the Odometer Disclosure Report because few lenders do ask for it.

Applying for low income auto loans is simple because you donít need any additional documents. The only important thing is to prove your income. For that, you can use your recent pay stubs. If you are self-employed, it is important that you provide your IT details to the lender.

Low income auto loans are easy to get and a boon to those who are struggling with low income. So, donít wait anymore. Cars are a necessity and itís time to fulfill your car needs. Avail them and get ready to ride comfortably in your car.


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Thu, Mar 15th - 1:34AM

No Down Payment Auto Loans - A Viable Option for Bad Credit Borrowers

Inventions have come and gone. But, the invention called automobile has stayed forever. Americans have simply welcomed cars onto their roads and into their hearts. It has become an absolute necessity now. It's amazing when we are able to buy our favorite car and fulfill our long cherished car dream.

Sorrowfully, car buying is difficult because of down payments. The initial upfront amount that is paid while buying a car often creates mayhem in the lives of car buyers. Most buyers face problem in arranging money. Car dreams are shattered due to lack of down payment. And, if a borrower has a bad credit, he is doomed to see his application rejected.

But, things won't be the same now. Lenders have perfectly understood this difficult situation and have introduced no money down auto loans. Don't worry about your average or poor credit score. You can avail this loan option with any type of credit score. It's not like lenders have suddenly become sympathetic. It's simple economics. Many buyers face problem in getting down payment and their bad credit scores make sure that they are left high and dry. This opens a niche segment for lenders and a great business opportunity. Also, the lenders are going to use your car as collateral so they are not doing a favor. It's just plain business sense.

While getting these loans, a trade-in would benefit you. It will bring down the loan amount and also lower chances of an 'upside-down' loan. If you don't have an old car, make use of rebates. Most dealers offer the choice between rebates and down payment. If you forgo rebates, then you can opt for the no money down option.

How to Avail No Money Down Auto Loans with A Bad Credit History?

Large down payments can be tackled with no money down auto loans. All you need to understand is the exact procedure to avail these loans. Here's a detailed explanation of the same.

Ignorance Is Never Bliss When It Comes To Credit Score

Know your credit score before applying for a loan. There have been instances when dealers and lenders have charged exorbitant interest rates under the pretext of a bad credit score. So, check your credit report and credit score. If there are any unwarranted inquiries or errors, ask the credit bureaus to remove them. It will result in a better credit score. Also, paying smaller debts can help you. Once you are sure of a perfect report, apply for the loan.

Internet to Your Rescue

Make use of internet to get in touch with lenders that offer zero down payment option to bad credit auto loans borrowers. While dealing with online lenders, ensure their reliability and security of your personal information.

Easy Procedure

Applying for no money down auto loans is easy because you don't require any extra paperwork. Pay stubs / income tax returns (for self-employed) can be used for proving employment and income requirements. Other than that, utility bills will serve the purpose of ascertaining your time at residence.

So, don't wait anymore. Buy that car you always wanted with no money down auto loans. It's time to forget your credit score blues; it's time to drive your dream car.

With no money down auto loans, poor credit borrowers can say no to humongous down payments and say yes to humongous happiness!

Ezautofinance.net wants to see you driving your dream car. We offer great loan options to sub-prime borrowers. Here's your golden chance to avail no down payment auto loans at great rates. Apply on our website for no down payment bad credit auto loans and turn your car dream into a reality.

All the best!


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Mon, Mar 12th - 4:58AM

Buy Your Splendid New Car with New Auto Loans

What America drives, drives America. How true! Each one of us is extremely passionate about the four-wheeled invention. From the humble beginning in 1907, to the sleek cars today - cars have come a long way. Manufacturers keep launching new cars every year and we absolutely love to drive those beauties on street.

The New Car Prestige

Most of us search for a chance to replace their clunker with a brand new car. A new car means reduced maintenance cost, warranty coverage and more importantly, peace of mind. Moreover, there are higher chances of buying a junk and salvaged used car.

Buying a new automobile is fulfilling the ultimate American dream in true sense. A new car means you have established yourself and are now responsible of making a huge financial commitment.

Nowís The Time

New Year means several auto shows and new car launches. The Year has ushered in good news for the auto industry. The sales are anticipated to go higher than last yearís 12.8 million. Higher car sales mean many are replacing their aging automobiles. Be one of them and get ready to chuck your old car for a new-flawless beauty. If you are concerned about high cost of financing a new car, hereís a comprehensive guide to help you buy the car of your dreams.

Money-Wise For a Wise Decision

A mark, a yen, a buck, or a pound is all that makes the world go around

One can understand the importance of money with this Liza Minnelli song. Yes, money is important when it comes to buying a car. Although car loans will do their magic, you should have some amount for making a decent down payment.

Ascertain your affordability. You must understand that when you set out to make a major financial decision, you must be ready with everything. Prepare your budget. Deduct all your expenses and current loan payments from your gross monthly income. You must consider all the major future expenses like college fees, marriage, holiday trips, etc. If you have a balance enough to make easy car loan payment, only then think of buying a car.

While deciding on monthly payments, you must not forget all the car-related expenses like fuel, maintenance and insurance.

Buying a new car is an important rite of passage for us. It is very crucial investment decision and you donít want to lose your hard-earned money. So, even though it is rather tedious, it will definitely help you to narrow down your choices.

Finance First

Once you know your affordability, start scouting for an auto loan. A new car is certainly more expensive than a used one and you must sort out the finance before going to the dealerís lot.

Web-Savvy?

You have many options for availing finance. Dealership financing, credit unions and banks are the traditional options. Most banks have stringent lending criteria and you need to be a member of the credit union to avail finance from them.

You can also go for an online auto loans. Most buyers opt for it because of the convenient lending process. You will have to fill a simple application form for a new car loan and thatís it. Your work gets over there. These companies will search for a lender in their network and help you get the best deal.

While going the online way, you must take care of your dataís safety and security. Check the companyís security certificate and ensure its reputation.

What Factors Will Determine Your Approval?

Your credit score is not the sole reason of your approval or rejection. Hereís a list of all the variables involved:

Credit Profile

Your credit profile should be for longer term. Along with a stellar score, it is important that you have a credit history of at least two years.

Monthly Income

As the cost of a new car is high, be ready to make slightly higher payments. Most auto lenders will want you to earn at least $1,000. Pay stubs or W-2 forms can help you to prove your income.

Employment History

It is essential to have a stable income source. If you are constantly switching jobs, lenders wonít trust you. You must be working at your current employer for at least six months.

Time At Residence

Most lenders want to know if you have a constant place of residence. It allows them to know if you are regular in paying your utility bills. Lenders will ask for a copy of utility bills.

Down Payment

It is the initial upfront amount that you pay while buying a car. A larger down payment will reduce your loan amount.

Co-signer

Having a co-signer will make a huge difference to your approval chances. A co-signer will assume the responsibility in case of missed payments.

Once you get approved, the lenders will contact you. Most financing companies have a network of lenders as well as dealers. So, it may happen that a dealer will offer you financing options. You must take this as an opportunity to build your credit score.

You Deserve the Best

Itís your time to judge the best auto loan quote. Look for APR (Annual Percentage Ratio). It will tell you the exact cost of loan including all the fees and charges. Also, consider the loan term. Longer the term, higher is the chance of ending up with an upside-down auto loan. Repayment terms, prepayment penalty, repossession terms, etc. should be considered in advance.

After your application is approved, choose your dream car. Select the one that really fulfills your needs and suits your style. Donít forget to read reviews and also consider manufacturersí incentives.

Hereís wishing that you get your perfect new car. Take a wise decision and enjoy your charming and elegant beauty on wheels.


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