My Car Just Stalled - Now What?!

Has you car run its course? Maybe it is time for you to get a new car, but you don’t have good enough credit to get a solid loan. There is always the option of a no-credit car loan, also referred to as a bad-credit car loan. This is the ideal loan for consumers with credit challenges.

Taking out a no-credit car loan can help you improve your credit in the long run if you pay your loan off on time. Trying to buy a car through a dealership with bad credit is probably not the best idea. They might not have much interest in you as a customer and will likely show you only low-end cars. A no-credit car loan can help you get around this since you will have already been approved for a loan by the time you walk into the dealership.

Since you have bad credit and are trying to rebuild it with a no-credit car loan, don’t expect the loan company to cut you any breaks. The interest on the loan is going to be higher than what you might see advertised to other customers. The banks are only doing this because they see you as more of a risk to lend money to, and they want to cover themselves if you fail to pay as agreed. With a higher rate, you are forced to devote more of your payments to the interest rather than the principal of the loan. If you want to avoid having most of your money go toward the interest, you should make whatever extra payments you can afford to reduce the length of the loan. Making extra payments will help you pay off the loan faster and make vast improvements to your credit score.

So you have bad credit, you need a new car, and you do not want to get the run-around from the car dealership. A no-credit loan is absolutely what you need, as it can help you solve all three problems. You may not be able to get the car of your dreams, but you will be able to get reliable transportation while building your credit. If you want to avoid the hassle of dealership financing, improve your credit, and get a new car, then get a no-credit auto loan is the solution.