Not everyone has excellent credit. Fortunately there are lenders out
there that understand this and offer credit terms to those with less
than stellar credit history. It’s simply a different type of loan to
them and no emotions are attached. In this article, we will go through
what you should know if your credit history isn’t great. The situation
isn’t so bad.
The first thing you will find is that many lenders specializingin poor credit loans want to sell you a new car. We know this is counter-intuitive, wouldn’t a used car make more sense? Not reallyBrown’s Alpha Romeo of Patchogue, NY tells us. From the lender’s perspective, a new car has more value and therefore offers more money that can be reclaimed if the buyer defaults on the loan. The lender also has the assurance that a new-car buyer will actually keep up with payments because there shouldn’t be any “surprise” car repair expenses.
If you want to buy a new car soon yet have marginal credit, it’s not a bad idea to start planning for the purchase.Start by pulling your credit report to see how it would look to a lender. You can get free credit reports from a number of online companies. www.creditkarma.com is one of the big ones and they give you one free report a year on each of the three major credit reporting agencies. Read More: TopCarsPicks.com
The first thing you will find is that many lenders specializingin poor credit loans want to sell you a new car. We know this is counter-intuitive, wouldn’t a used car make more sense? Not reallyBrown’s Alpha Romeo of Patchogue, NY tells us. From the lender’s perspective, a new car has more value and therefore offers more money that can be reclaimed if the buyer defaults on the loan. The lender also has the assurance that a new-car buyer will actually keep up with payments because there shouldn’t be any “surprise” car repair expenses.
If you want to buy a new car soon yet have marginal credit, it’s not a bad idea to start planning for the purchase.Start by pulling your credit report to see how it would look to a lender. You can get free credit reports from a number of online companies. www.creditkarma.com is one of the big ones and they give you one free report a year on each of the three major credit reporting agencies. Read More: TopCarsPicks.com
No comments:
Post a Comment