Do you think low income will hinder your auto loan approval chances? Certain factors such as buying a used car and aiming for lower debt to income ratio and payment to income ratio will help you in making a purchase despite having limited earning sources.
Buying a car post-bankruptcy is not a bleak affair. You can make a purchase and still get an opportunity to improve your credit score. Do not worry if you have recently discharged Chapter 7 or Chapter 13 bankruptcy. If you focus on taking time to build credit, buy a used car and put your energies at getting pre-approved financing, the auto loan and the car are not far behind. Let's learn tips to tackle bankruptcy successfully!
Are you afraid of your kid being behind the wheels? The necessity of a car for a teenager is parallel to the advantages of buying a car for your teenager. The right practice to follow is to buy a utility vehicle, make your kid involved in the car buying process and make him/her a partial cost bearer of owning and maintaining the car.
When it comes to a bad credit score, you should be very careful in deciding your auto loan options. Understand the possible pros and cons of taking help of a co-signer or a co-applicant vs. applying on your own.
Not sure how much to spend on your first car? Fear not. There are different ways in which you can create a decent budget for your car. Calculate the cost of your living and the overhead costs associated with owning a vehicle. Learning about different expenses will help you to narrow down the car that is right for you. Remember better budgeting leads to a better car buying experience.
Rethinking your auto financing decision because your credit score is below 500? Overthinking will not lead you anywhere but working your way around your credit score can get you an auto loan approval. Focus on a pre-approved car loan, pay a large down payment and work on building a better credit score to get an auto loan easily.
When you go out to negotiate the price of your car, remember to ask for rebates. There are different types of rebates and incentives provided by auto manufacturers. The incentives can help you save dollars and allow you to buy any car that you wish to own. So, let’s understand everything about rebates and get ready for an informed, well-budgeted car purchase.