Monday, October 1, 2012

Speedy Car Loans helps people with bad credit get auto loans?

Speedy Car Loans is an auto and loan broker in Las Vegas, specializing in bad credit auto loans. When credit challenges are present loans can be very tricky. We have 24 years of experience working with banks to make this kind of loan come together.

We have several advantages over a dealer when it comes to bad credit auto loans. First, speedy car loans carries no inventory. We have no lot, no cars at our office. Instead we go out and find a car that exactly matches your needs and the terms the bank has set for your loan. You may be wondering what types of terms the bank would set... I mean, why do they care what you are driving, right?! Well the bank sees the car as collateral. If you don't pay your payments they come and take the car and sell it to recover their money. Also, people are less likely to default on a car that runs, so reliability is a big deal to banks. Banks love cars with low miles that are newer because they break down less and hold their value. By going out and finding your car we also save a ton of money and are able to pass that savings on to you. 

Another thing the banks notice is the value of the car in relation to how much you are borrowing. They would rather loan you $5,000 for a $10,000 car than $9,000 for a $10,000 car, even though in the end the $9,000 loan will get them more profit from interest.  Selling the cars for less helps us keep the loan to value low and the banks love Speedy Car Loans for that because they hate risk! You can help lower your bad credit auto loan rate by saving a nice down payment to offset some of that risk. 

For more information give us a call. We will talk to you about your credit, what kinds of cars you qualify for and your loan options! 



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