If you have bad credit and are hoping to get a bad credit car loan there are several things you want to be sure of before you start the process.
The first is that your monthly income is high enough to make the payments. Most banks require a minimum of $1800 a month in income or a cosigner. You will need to know that the interest rate the bank will finance you at may be higher than you'd like. You should be prepared to put down a down payment, and have an idea of what you can afford for this. Your first car payment won't be due for 45 days so you'll have a little break after paying this out. To receive a bad credit car loan you will have to be able to prove that you can pay any other expenses that may be incurred by owning a vehicle. These expenses are the insurance and the car payment itself. Any lender is also going to want to see your job history. Showing that you have a steady income, are making all your other payments, and have maintained the same address, will increase your chances of getting a bad credit car loan. Being able to put a substantial down payment on the vehicle will also help your chances of receiving a loan. If it means waiting a little bit longer to obtain the funds, it might be beneficial in the long run. And you could always ask someone to cosign the loan. If this person has great credit, he may meet the necessary requirements. However, this means is that if you default, this person will be responsible for making the payments. It is very important that you are able to every payment. If you are looking to finance a car, call us. Just because you have bad credit does not mean we won’t work with you to help you restore your credit rating and get you the best possible loan!!
Speedy car loans
5735 South Durango Drive
Las Vegas, NV 89113