Sacramento CA Special Finance - Buying a Car With Bad Credit and No Money Down

Typically, when you go into a Sacramento car dealership with bad credit, you end up really confused as to what you can and can't buy. Dealers will tell you that based on your credit history, you've only got a few options. This usually includes an older car with higher miles or a low priced entry level newer model. It can get really confusing when they start talking about interest rates and it seems that the interest rate is different on different models. To add to the confusion, down payments seem to be a number that constantly changes. You may be told that you have to put down $1500.00 on one vehicle and only $1000.00 on another. There just seems that no clear answer is available.

Well, the fact is that Sacramento car loans can be really complicated when it comes to car dealers getting you financed. Dealerships have to figure how much money one of their loan companies will lend for a particular vehicle based on loan value. Then, there's their main interest, which is making a profit. If a lender won't lend enough money on the car for the dealership to make a good profit, they'll ask you for a down payment to make up for the difference. It's not that you actually have to have money down to buy a car, it's that the dealer needs it to make money in some cases.

Visit http://www.BuyingCarswithBadCredit.com for Sacramento, CA Bad Credit Auto FInance.

No Credit Car Loans in Sacramento CA 95842

This article briefly explains the options that you have in Sacramento if you have no established credit history and are in need of auto finance. The basic options that you have are outlined and will aide you in your search for an approval that won't break the bank or worsen your situation.

First of all, if you have no credit history, don't go looking for auto financing without credit checks. Wrong answer. You do not want to fall into the trap of Sacramento buy here pay here car lots, tote the note dealerships or any guaranteed auto financing gimmick. Those types of establishments charge interest rates, down payments and fees that are astronomical in comparison to better options for Sacramento. Worst of all, is that being that you don't have any other option (or so many people think), the prices of the cars are sky high in comparison to their actual value. So we've got that one out of the way. Don't do it.

Next, is online financing options through sources online that can match you with Sacramento lenders that specialize in no credit car loans. These types of companies can help you with auto finance whether you have no credit or bad credit. They match you with lending sources and companies that will provide you with an auto loan approval, based on your income. The payment terms and rates are much more advantageous vs in-house dealership financing in Sacramento. Best of all, with a good auto loan through a legit Sacramento source, you'll have the opportunity to build or rebuild your credit history.

Visit http://www.BuyingCarswithBadCredit.com for Sacramento, CA Bad Credit Auto FInance.