Are online ads for bad credit auto loans legit?
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Okay, I’m really out of options. Everything went bad at once and we’re just stuck. Our credit is around 530, and yes, we have been working on paying stuff off. I started job hunting, to help pay more off sooner and get our credit cleaned up. Our van completely died. We looked into having it fixed, but the cost would be the same as getting a new used vehicle. It’s old, and we’d already put a lot of money in it to keep it running. We have 4 kids, and the only vehicle we have is small truck that runs on good days. My husband uses it for work. The kids have dentist appts coming up that I have no way to take them to, and I have no way to go to job interviews. We live in a very small town, no buses, and no family around the area to help us with rides. I’ve tried Wells Fargo, the bank, some of the car dealerships, and turned down. Even if we could just a very small loan for the down payment at a buy here pay here lot would help. Are any of the online auto loan sites legit?
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PureOpinion said:
No!!!! I used to work for a company that answered the calls from all those numbers you see on TV. We told everyone that thier application was "accepted" (never "approved"). It was a deal we had with the car lots just to get people in there. The "application" is just a form we fill out about which car you want, nothing to do with your credit. In fact we didn’t even ask people thier SSN or info about thier credit, which you have to have to know about thier credit. I don’t know about all, but the Co. I worked for handled about 8 of those numbers across the USA. If they don’t ask for any personal info (not saying you should give it out anyway, it’s just the only way to even know your credit) just about the kind of car you want, and they refuse to say the word approved, you know it’s a sham. We had people call back constantly upset b/c the dealer we sent them to laughed in thier face. I hated it and was only there for a month or two. Pays great though if your looking 4 a job and don’t mind. They don’t require any exp. either. However I do work 4 a buy here pay here place now and we do get loans 4 people w/ bad credit, often through small loan places like americredit and places like that who know the owner and help people out if he sends them there personally. The price and interest rate are horrible and at a lot of bh/ph places you are taking a risk with the car b/c they are "as is", but if you look into them you can maybe find out if they are trustworthy, often they are the only hope 4 some. I also know some people who did get a car at a big car lot during one of thier "no credit check, just have a job" kind of sales, but I don’t know about that personally. Good luck!
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0January 19th, 2010 at 4:49 am -
Ryan said:
They can be. Anything online you want to do a little background check. But yes, there are "bad credit" businesses that are legit that have an online presence.
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0 0January 19th, 2010 at 4:49 am -
Etta P said:
Yes, they do offer loans to people with poor credit but the worse the credit is, the larger the down payment required. They also finance on very short terms (under 36mos) so the payments may be pretty high, and typically a much higher rate than is typical for the industry.
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0 0January 19th, 2010 at 4:49 am -
Jessica said:
Car loans for people with bad credit score are mainly given as two options i.e. secured and unsecured. Under a secured loan, the car or any other collateral needs to be pledged as security with the lender. Secured loans often carry a lower rate of interest and are also easily approved due to the collateral<!–being placed. Unsecured loans for cars generally have a higher rate of interest as there is no collateral and hence the risk to the lender is more. Both these loans are generally provided for a time ranging between 5-7 years. Clearing some of your old debts can improve your credit score, which may in turn fetch you lower interest rates when you are applying for auto loans.
http://badcreditloans.awardspace.com/Buy_Your_Next_Car_without_Improving_Your_Bad_Credit_Score.html
A person may incur a poor credit score due to many reasons such as accumulated arrears, defaults, repayments that have been omitted and so on. With the advent of bad credit auto loans, even those with a not so good–>credit history are being provided with the opportunity to purchase a vehicle. A down payment is however required while acquiring these funding options. Refinance car loans are also being provided by some lenders even for those with a poor credit score.
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0 0January 19th, 2010 at 4:49 am -
seejadsoza said:
Nationwide Auto Financing is committed to help customers to get auto loans, car loans and bad credit auto finance with a choice of programs even with bad credit or poor credit or bankruptcy.
We provide a simple, secure and lowest interest rate loans with fast approval. Visit our website http://www.autoloan123.net/ or http://www.carloan123.net/ and just fill out our online auto loans form and get approved in just minutes.
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