Monday, March 4, 2013

Where Can I Get a Car Loan

Many people ask, "Where can I get a car loan"? The answer depends on whether or not you have good or bad credit. Let's look at options for both.

If you have good credit...

Car Dealerships

Local banks

Credit Unions

Online Lenders If you have bad credit, then the best option for you is to use an online lender, as well. There are companies now on the internet that have special finance programs that base your car payments on your monthly income. It's very simple to get approved and a down payment is not needed unless the amount financed exceeds the loan value of the car. If you don't understand that, don't worry. They'll provide you with all of the information that you need. Sources are available online now, that were unheard of a few years ago. In fact, many people that have a bad credit rating, don't even know that these lending sources are available for everyone.

If you have bad credit, you would appreciate...

No money down

Great interest rates

Low monthly payments, based on your income

Being able to buy your car wherever you want to

Getting approved in minutes That's what some online sources provide you with, when you take action and ask for a loan. It should be clear to you, by now, that car dealerships are not the answer if you have troubled credit. Car lots are no more than middlemen that take your application along with the price of the car that you're wanting to buy and simply submit it to lenders. You can save money and time by doing this yourself, online. You'll also get approved, much easier.

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