Everyone deserves a vehicle, regardless of their credit history…All you need is a car loan (APPLY HERE)…maybe a bad credit car loan. Having bad credit does not deprive you of owning a vehicle, however, it may lower your chances of obtaining credit. Bad credit history may include defaults, collections, liens, judgements, repossessions, foreclosures, and bankruptcy.
Due to unforeseen circumstances, you could fall behind in your regular monthly payments. Late payments can negatively affect your credit score, and lower your credit rating. Defaulting on financial payments is even more detrimental to your credit history.
Another situation which has a devastating impact on your credit rating is bankruptcy. If you are finding it difficult to manage your monthly payments, perhaps as a result of high interest rates, you could consolidate your debts into a single, budget-friendly loan at a reduced interest rate. If this does not resolve your situation, you may need to consider filing for bankruptcy. When you enter into bankruptcy, you are relieved of your cumulative debts, however, bankruptcy remains on your credit history for many years to come. During this time, you will find it extremely difficult to obtain new financing–poor credit scores are assigned to those that have a bad credit history.
To re-establish your credit, you could apply for a loan to buy a car. High-risk “bad credit history” loans are offered to those with a poor credit rating. Interest rates on loans granted to those who are a poor credit risk are typically higher compared to rates on other loans. Prior to applying for financing to re-establish your credit, be sure to review your credit report.
You can obtain your car loan right here at Car Credit Headquarters!
Once you have secured your car loan, be sure to make your regular payments as per the financing terms. As your credit score increases, you may consider re-financing your vehicle, but, based upon your new repayment history, it may not be necessary!
To determine your best course of action, speak with one of our financing experts to discuss your situation, and what options are available to you. Talk to our knowledgeable specialists right here at Car Credit Headquarters, or fill out your application on this website so that we can help you get the car loan you need to get the car you want!
Call Us Today at 201-288-1044.