Jason Lanier asked:




Having bad credit isn’t the end of the world. It will eventually go away and get better as you pay your bills on time. The good news is that while you’re waiting for your credit score to improve, you can get auto financing with no money down, regardless of your credit history.

It seems as if it is a dream come true. A new or newer model car, no down payment and a decent interest rate. The fact is that lenders now are lending money to people that in days past could have never gotten a car loan. Why?

Lenders know that you are more likely to make your payments if you don’t have to spend money on repairs. Newer cars with new car warranties are less expensive for you to maintain. This is a win-win situation for you and the lender. You get a newer car and the lender is assured that you’re more likely to make your payments on time.

The secret to getting auto financing with bad credit and without the requirement of a down payment is to use an online lender. There are car loan companies online now that specialize in helping people with horrible credit, get into cars, trucks and even motorcycles with reasonable monthly payments.

If you choose to arrange your financing online vs going through a buy here pay here car lot, you’ll enjoy the freedom of being able to choose where you buy your vehicle at. This is much better than being limited to choosing from one or two car lot inventories.

Raymond

Cindy asked:


Nothing will change for the “big three” until they cut costs and consumers begin buying more cars. Auto financing, despite Fed interest rates cuts have gone higher, presumably because of the credit crisis (I don’t believe that). Nobody is buying? The only place that the auto manufactures can have a real impact is to cut labor costs. Job cuts will be made to match production needs. Either way the bailout amounts to Chapter 11 restructuring and downsizing without the legal accountability of actually filing bankruptcy? Bankruptcy would have required a plan to become profitable again and cost cutting measures would need to be spelled out. The House version of the bailout yesterday didn’t require any cost cutting measures? If this thing passes they will all be back again in less than six months looking for more money with no substantive changes to the industry.

Courtney