Instant Auto Loan Approval: A Blessing for Bad Credit Car Buyers

Every bad credit car buyer knows the trouble of obtaining quick auto financing. In the past, you had to walk down to every lender and bank in your area and ask for loan approval. But, the story is different today.

Fast Auto Loan Approval is your Knight in Shining Armor

Fast Auto Loan Approval is America’s premier auto financing company. It believes that credit history is not the primary factor for approval. If you have a decent job and earn regular income, you can get instant auto loan approval at low interest rates.

The company will help you obtain no obligation quotes and enable you to obtain an auto loan without down payment. It is no joke! Fast Auto Loan Approval provides zero down payment facility to bad credit car buyers.

So, what are you waiting for? Get in touch with our loan representative by applying on the secure website now.

The “Lender Problem” - Meaning, Reason and Ways of overcoming it

Mr. Smith was in a hurry to reach his office, but his car would not start. He checked the engine and concluded that there was no mechanical problem with the car. Suddenly, he realized that it was the "Lender Problem."

What is the "Lender Problem"?

A car is suffering from the "Lender Problem" if the lender has disabled it because of the following reasons:

>> Car driver was falling behind on payments

>> The car was leaving the pre-approved driving area

How do Lenders disable a Car?

Lenders use a GPS-based device called ignition kill switch to stop a car from running. The device is a simple starter-interrupt switch that allows the lender to immobilize a car from a distance. He can simply use a computer or a smartphone to stop the car.

How are Car Drivers reacting to the Device?

Lenders have installed the device in approximately two million vehicles. The ignition kill switch has left car drivers outraged because it raises serious privacy questions. Following are the few problems caused to car drivers because of the ignition kill switch:

>> One Texan woman's car was disabled by the lender when she left the pre-approved driving area. She was not going on a trip or a vacation but leaving to seek protection at a shelter for battered (assaulted) women.

>> Bolender family of Las Vegas faced the same problem when they had to take their daughter to the hospital. The car would not start because the lender had disabled it.

Why are Lenders installing the Device in Cars?

Lenders give the following reasons for installing the device:

>> It provides security

>> It makes repossession easy

>> It reduces the risk and enables lenders to provide loans to people with very bad credit score

>> Many investors demand it from lenders as it increases the safety of their investment

Even though car drivers are feeling insecure with the installation of ignition kill switches in their cars, lenders claim that they don't disable the car without prior warning. If a car driver doesn't make payments after repeated warnings, only then the lenders make use of the device.

What if the Lender wants to install the Device in your Car?

If you have a sub-prime credit score, your lender may insist on installing an ignition kill switch in your car. But, before you agree to the installation, check whether the use of the device is legal in your state. For example, Wisconsin has banned its use. You must also apply with other lenders to check whether you can avail an auto loan without installing any device in your car.

If you have no other option but to agree to the installation, you must discuss the following things with the lender:

>> In what circumstances will he disable your car?

>> How many warnings will be given before disabling your car?

>> Will you be permitted to take your car out of the pre-approved driving area during emergency?

How to overcome the "Lender Problem" successfully?

Even if the lender installs the ignition kill switch in your car, you can avoid the "Lender Problem" by staying on top of payments. You can make regular payments by undertaking the following pre-loan application tasks:

>> Calculate car budget and ascertain a monthly payment amount

>> Make down payment to make your payments affordable

>> Save money to make payments in rainy days

So, this is how you can overcome the "Lender Problem" and drive your car without any worry.

Fast Auto Loan Approval will help you in getting quick auto loan approval at affordable rates. The company is a leader of the sub-prime auto financing market and will make sure that you get the best bad credit no money down car loan program at lowest rates. Apply now.

Get on the Road Faster with Fast Auto Loan Approval

It’s time to forget all your worries. Apply with Fast Auto Loan Approval and get ready for quick car loan quotes. The auto financing company ensures that you don’t waste time in getting approval. Its online application form can be submitted in just 2 minutes. You don’t even have to provide any documents at the time of submission.

Bad credit borrowers should not worry about their credit history. The company believes in your present, not in your past. If you earn good income and have stable job, getting low rate car financing program won’t be difficult for you.

Truly, Fast Auto Loan Approval makes car financing pleasurable. Its easy approval criteria and no down payment alternative make it your ideal car buying partner. Apply now.

Fast Auto Loan Approval for every Car Buyer with any Credit Score

Fast Auto Loan Approval is the ideal auto financing company for every car buyer in America. No matter where you live, the company can get you instant auto loan approval. Its high approval rate of 87.4% is a proof of it.

Fast Auto Loan Approval reaches out to every car buyer. So, don’t think that your bad credit score or poor credit history will create problems in getting a new car loan. With wide experience of the subprime auto financing market, you can easily get low rates on auto loans.

Turn your cherished car dream into a reality! Get approved for a new car loan or a used auto financing program at the click of mouse. That’s the magic of Fast Auto Loan Approval. Apply now and get online auto loan quotes!

New Car Loans for Bad Credit Borrowers – Buying a Car is so EASY now!

Loving a car is American legacy! We are born with this amazing passion and love for cars. If you are looking to fulfill your dream of owning a brand new BMW, Audi or a Chevy, you need to take help of auto loans. Now, when it comes to new car loans, one thing that terrifies us is bad credit history. But, rejection because of bad credit history will become history now! Think out of the box when it comes to bad credit score. Read this amazing new car loans guide to stay focused on the road of car buying.

New Car Loans for buying a New Automobile – Why is it necessary?

A new car costs more than $30,000 and prices have been steadily rising. Now, to buy a new automobile, you have to cough up almost $3000 extra. This means car loans have become a necessity.

Everyone wants a Piece of Pie

New lenders and online automobile financing companies have made the auto financing world competitive. Everyone wants a share of customer’s spending. This means it has become very easy to get approved for a new car loan.

It’s so much easier to get a bad credit auto loan today than it was in the past. Bad credit history is certainly not an issue for lenders now. Here’s how you can easily sign the new car loan contract despite bad credit history.

Tips for a New Car Loan with Bad Credit

1. Begin with Budget

We all know how addictive cars can be! So, it’s better to know your spending capacity before choosing your dream car. Calculate your income and expenses before deciding on the kind of car you want. It will avoid any further damage to your credit score.

2. Income Proof

Even if you have bad credit on your credit report, it’s important to earn a decent income. A good income ensures regular payments. This is very important for lenders who offer auto financing program for bad credit buyers.

 

Your income proof can be your recent pay-stubs. A self-employed individual can provide IT statement as a validation of regular income.

3. No Down Payment? NO PROBLEM

Don’t worry if making a down payment is difficult for you. There is absolutely no need of making a cash down payment. You can trade-in your old car. Its value will be deducted from the cost of your new car and voila! Your Problem is solved.

Most car manufacturers offer rebates in the name of customer incentive. You can ask the dealer to use rebates as down payment. This means you will actually put money down without taking a single dollar out of your pocket.

4. Options other than the USUAL

Most bad credit car buyers are suggested to opt for shorter loan terms with higher monthly payments. It becomes slightly impossible to make regular monthly payments of more than $500. This increases the chances of missing out on payments. So, think creative and understand innovative options that are available in the market before signing on the dotted line. It’s better to explore all choices so that you choose the payment schedule that fits you the best.

You can choose balloon payments. With this option, you can make lower monthly payments and then, make a huge payment at the end of the loan term. This can be ideal if you plan for the last payment from the very beginning. Along with an affordable monthly payment, you can put aside some money for the last payment. This will help you avoid higher payments.

According to Wall Street Journal, the average car loan term was 65 months in last few months of 2012. Nowadays, loan terms are as long as 70 months. Today, lenders are looking forward to extend loan term of 97 months. This is because most car buyers are unable to afford high monthly payments. As the durability of cars is increasing every year, they can be used for longer periods. This makes such longer terms a reality.

So, while opting for a new car loan with bad credit history, remember to try out other options. Seek knowledge about the current trends in the auto financing market because it will help you grab the best car loan deal.

All the best for your new car!