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Even though banks and credit unions are the most usual places to get a car loan, most financial institutions are not particularly fond of lending money to people with bad credit. This is where car dealers that finance in-house can really be of help.A subprime in-house lender will charge an interest rate that is higher than the usual "prime" lending rate which is charged by conventional lenders. The subprime lender tries to help his customers who have bad credit get a good car and a good loan, too. Though he charges a higher than usual interest rate, his rate is not high enough to make the buyer feel as if he's being ripped off.
Follow the signs for in-house lending!
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- Bad Credit Auto Loans Blog
Posts
Thats true, my credit isn't the best but the dealerships i've been to have always been very helpful.
ReplyDeleteThat's just silly... no one should be able to buy a car that they can't afford!
ReplyDelete