When your credit score is not perfect and you want to buy a car, you need the help of subprime lenders. CarDestination.com, the bad credit auto loan expert, will help you obtain preapproved financing and make car buying easy and affordable for you.
Subprime Credit - It is no longer a taboo. With the recession of 2008, subprime credit score has become a reality for an average American. But, can a person with subprime credit make a car purchase?
Is it possible to buy a Car with Subprime Credit?
Today, more than one-third of the total auto loans are given to subprime car buyers. So, do not think that getting a subprime car loan is impossible. If you have any of the following problems, CarDestination.com can help you get easy auto loan approval:
1. Your credit score is lower than 550
2. You have bad credit history
3. You have recently discharged bankruptcy
4. You are a recent college graduate
5. You are a college student
6. You are unable to make payments on your current debts
7. You have lost your job due to illness, or any other reason
8. You have been recently divorced and discovered that your credit score is inadequate to get auto loan approval
It means subprime auto financing is not only available for bad credit car buyers but it is also possible for people with zero credit history. Also, the loan program can be availed by people with serious financial problems in the past.
Benefits of getting Subprime Car Loans
1. Easy loan approval
2. Faster loan process
3. Secure online application form
4. Simple eligibility criteria
5. Car buyers with deep subprime credit are approved
6. Lower-than-market rates
7. Customized monthly payment schedule
Do you Really have Subprime Credit Score?
Usually, if your credit score is more than 620, you are considered to be a “prime” car buyer. And, if it is lower than 620, your score is called a subprime credit score.
Traditional auto lenders prefer “prime” car buyers because they are likely to make regular payments towards the auto loan. In most cases, such car buyers receive low interest rates.
But, all is not lost for subprime car buyers. CarDestination.com can help you obtain quick subprime car loans and ensure that you buy the car of your choice.
Reputable Subprime Car Dealers are waiting for you!
In the past, subprime car buyers had to be satisfied by loan sharks. But, today the story is different. With large number of population having subprime credit score, lenders have been compelled to provide auto financing options to people with non-prime credit.
CarDestination.com works with several reputable subprime car dealers who will help you to buy your car and car loan under one roof. It will enable you to enjoy the perks of pre-approved financing as well as help you to finish the car buying process quickly.
Ultimate Freedom of choosing your Subprime Lender
If you have already chosen your car and need a subprime lender to finance it, CarDestination.com can assist you in achieving the goal. The company is in touch with several top subprime lenders who will work with you and help you buy a car.
The company has a zero discrimination policy. It means it will never discriminate you or treat you differently because of your credit score, income or any other factors of the loan eligibility criteria.
Once you submit your loan application on the website, the company will start working on finding you the best loan quote. Trust us for finding you easy approval, affordable interest rates and loan quotes that guarantee zero pre-payment penalty. Do not worry if your credit score is deep subprime, auto loan approval can be yours.
Important Tips for securing a Subprime Car LoanA. Choose a Reliable Car
Usually, loan experts suggest that a subprime car buyer should opt for a used car. It is best to buy a car from a reputed dealer instead of a stranger. Also, it is important to ask a mechanic for an honest review of the car. It will enable you to stay from lemon cars as well as new cars with potential flaws.B. Down Payment can be Helpful
You can provide an upfront amount to the dealer and manifest your stable financial condition. It will enable you to lower the loan amount as well as the interest rate. But, if you want to avoid down payment, CarDestination.com can help you. The company has special auto financing program called no down payment auto loans. You can avail it and make a swift car purchase without down payment.C. Cosigner can improve your Approval Chances
A cosigner has no right over the car. But, he has the responsibility of making regular payments. If you can convince someone, with a good credit score, to become a cosigner for you, getting fast approval on subprime car loan will become a reality.D. The Benefit of having a Co-Applicant
Alternatively, a co-applicant can also help you in getting subprime car loans. The co-applicant will be a co-owner of the car and will share your burden of the monthly payments. If you have a deep-subprime credit score, you can ask your parents, partner, friend, etc. to become a co-applicant.
Your Second Chance for improving your Credit Score
CarDestination.com gives you a second chance for improving your credit score. Obtain monthly payments that are easily manageable and improve your credit score by making regular payments. Apply with the bad credit auto loan expert and get ready to buy a car with subprime credit.