Are you planning to apply for a loan for your dream car? Do you need to get a new car? Do you hesitate because you have a bad credit record? There is a program called bad credit car loans where it offers second chance finance to people that have been rejected due to bad credit record. This needs requirements much like regular loan system but the difference is that regardless of a person’s credit history, they look at his or her capability to repay loans and not only to their credit score. The standard procedure may take longer than the regular loan application but this is due to the nature of its process which is a thorough measuring of the financing risks.
First thing you always need to remember is that there are big risks out there in the world of loans and finances; there are car loans that don’t check credit but most of these will lead your finances into more troubles in the end. It is true that there are lending companies that are brave enough to take the high risk of not checking loans, but the burden goes on your end as they often put higher interest rates too. They put the interest rates up to 30% and for a person who already has bad financial difficulties in the first place, it is too much so better avoid this kind of car loans if possible.
If you are having a hard time getting a car loan due to a bad credit record, don’t hesitate to call Intellichoice through this number, 1300 55 10 45. Our staff will be more than willing to assist you on how to properly process your application for another chance of getting a car that you need. Intellichoice understands that not all people who end up with bad credit score are irresponsible. There are plenty of considerable reasons such as hospitalization or sickness, bankruptcy, job lost, etc. that is why through bad credit car loan program, this company offers a second chance to people.
If you got rejected from your loan application, here is another thing you can do to deal with your bad credit record. If you are really desperate to get the bad credit car loan financing, you can also talk to a credit specialist months after you got rejected. You might want to do something such as pay off balances from your card to reduce debts. In this way you might save some amount to pay for the down payment of your planned car purchase. This will surely help you improve your current financial situation, thus, giving you more chances of getting loan approval. Though, it is still important to remember that it is more likely to get a bad credit car loan approval if you have a good credit history. It means you pay the bills on time and you regularly take care of other personal loans.
So if you really want to apply for a bad credit car loan, the important thing to do is check your current financial situation. Remember that there are also other things to think about such as the monthly payments, the fuel, and the maintenance expenses. Usually, the interest rates for bad credit car loans go as much as 10% to 20% and this is not a short-term responsibility. But if you think you can afford all of these costs and face these challenges, call the Intellichoice now at the number given above so you can inquire about the program and talk to our experienced consultants.