Recent years have made it a little easier to get a car loan – even if you have bad credit. The truth is that some lenders are actually looking to give money to people with bad credit. Typically called sub prime lenders, they can give you the loan you need to buy the car you want.
Although they certainly will check your credit record, they will be more concerned with your ability to pay and your current employment. If you have had your current job for about six months and make enough income to reasonably make the payments, you can most likely get the car loan.
Another thing that will be necessary is to have an active checking account. Your payments may need to be automatically deducted from your checking account each month to make them happy. It provides a little more security for them – especially if you have your paycheck directly deposited into that account.
Before you apply for your car loan, however, there may be a couple of things you can do to get better interest rates. You need to get a copy of your credit report and make sure everything on it is accurately reported. If it needs correcting, contact the reporting agency and work to have...
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