Saturday, July 14, 2012

0 Down Payment on Cars & Car Loans With Bad Credit

0 Down Payment on Cars & Car Loans With Bad Credit

Question by Xander Crews: How much available credit in $ to get 0% apr car loans? I know that many things can influence one's credit rating, so I'll give a few bits of my info. -I have no late payments or penalties on my credit. -I have $ 14,000 of student loan debt, none of which requires payment yet. -I have $ 11,500 total in my lines of credit, $ 10,500 of which is available. All of this credit is new, within the latest month. (This yahoo ID is completely unattached from my finances and uses false personal info, before anyone gets an idea. :P ) What I'm asking is: for those of you who have been approved for 0% car loan apr, how much available credit did you have at the time? I don't feel like paying $ 9 for my FICO score (which is not in free credit reports) atm, since the soonest I would take out a loan is December. Best answer for How much available credit in $ to get 0% apr car loans?:

Answer by Anna K
Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender

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Financing a new car or truck has never cost less, and qualifying for an auto loan is easier, too, even if your credit has a few dings and dents. The average ... Unfortunately, not everyone has the credit history required to qualify for 0% financing ... Auto loans keep getting cheaper and easier to find

If you need a car loan with 0 down, there are a few good legitimate sources on the internet that can help you.

You don't have to have a down payment for a car loan if you know just a few simple tips. I'm going to explain to you how you can get 0 down payment cars, trucks and motorcycles. RV's for that matter. It doesn't really matter what it is... if it's financed, you don't have to have a down payment if you understand just a couple simple things.

Down payments were required for just about everything back in the old days when it was a standard requirement for financing. It used to be that to get any kind of secured loan, a cash down payment was required to lower the amount financed so that you would not owe more than the car or land was worth. This enabled the bank to have low risk investment. If you ever defaulted on the loan, the bank would have the certainty of being able to resell the property for the amount owed on the loan to recover their money.

That was also back in the days when a long length of time to finance a car was two or three years. Now, the standard is five years and many people go out longer than that with six and seven year car loans.

Nowadays, 0 down payment is the norm. No one wants to put money down on a car or anything else that they're financing, especially when there is bad credit. Most people that have bad credit have it because they have a lack of money to pay bills. If you have bad credit, then it's a little crazy for someone to suggest that you should put down a considerable amount of money for a car.

There are online lenders that specialize in helping people with bad credit get into vehicles with 0 down. If you've been turned down by a local dealer or are just interested in saving your hard earned money, there are good solutions for you through legitimate sources online.

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