Refused Car Finance? Learn About Bad Credit Loans For Cars
There are many good people with bad credit looking around the internet to find information about how they can get a bad credit loan for a car. Most of these people have been to car dealers that have told them what they didn't want to hear, "I can't get you approved." It's disheartening and frustrating when you get refused car financing. It leaves you wondering what you'll be able to do. Is there some trick to getting a bad credit loan for a car?
No, there isn't.
However, you may be pleasantly surprised to find out that there are places you can go that will approve you. Regardless of your past credit history. Even if you've declared bankruptcy or have had a repossession.
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There are lenders for everyone and some are better than others. You should shy away from any kind of guaranteed car loan scam. No car loan is guaranteed, especially if your bankruptcy hasn't been discharged or if you have an IRS tax lien.
My Recommendation: Did you know that new cars are easier to get if you have bad credit than used cars? This can be the case if you're looking to buy a reasonably priced new car. Many new cars now are priced with hefty rebates that can be used to lower the amount that you're requesting for a loan. In many cases, this can lower the amount financed below the loan value of the car. This is great for you and the lender that is approving you. Many new cars come with 5 year warranties, which is a real pleasure to have.
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