Credit Finance

Monday, March 22, 2010

Bad Credit Car Finance - Don't Let Low Credit Score Stop You

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Bad credit car finance is the only option for many of us and like any other product, good or service, where there is demand it's highly likely there is or soon will be "supply".

Supply in this case would be the MANY bad credit car finance loan providers willing to consider your loan approval. And believe me, they are hungry for your business and they will compete for your loan - and I'll tell you why.

First, just about everyone needs a vehicle. 99% of us don't have the cash to buy the car we want so we borrow the funds. The problem is more and more applicants are falling into the sub-prime loan category - that is, borrowers with credit score below 680.

How does this help you, the bad credit borrower?

Car dealers and auto lenders simply don't have the volume of AAA credit candidates they need to keep their businesses alive. So, in order to survive and close loans, which is how auto lenders make their living, they must throw a wider net around their pool of potential applicants to also include sub prime loan applicants.

Even if your credit score is between 525 and 680, be assured, there are bad credit car finance programs available that will enable you to borrow the funds you need to get the car you want.

Second, American auto markets are in a sorry state. The big 3 are experiencing extreme competition from foreign auto manufacturers as well as overstocked with high inventories.

In order to compete, American auto makers are fighting tooth and nail to gain market share - doing just about anything to get you in their door and buy something from their bloated inventory. Many dealers are judged on volume of vehicles sold not profit per vehicle so your bad credit will hardly stop a dealer from making a sale.

So don't let bad credit stop you from getting a decent vehicle - see the link below for a good selection of bad credit car finance providers.

If you are looking for a vehicle and have bad credit, use all your resources to your advantage to get the best terms new auto purchase or auto refinancing, all in one place , visit - bad credit car finance information and reviews of bad credit auto lenders.

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Labels: credit car finance, credit finance, credit stop you