| "We Finance Bad Credit" type car dealerships and car | | | | your wheels gone and your money. That's just not a |
| lots are all over the country promising to finance | | | | good scenario but is the reality for many people that |
| anyone for a car if they just have enough down | | | | have taken that route of financing. |
| payment. Is this the way to go though, if you have bad | | | | Truth be known, there are better options. |
| credit and why? Better yet, why not! | | | | You can get approved for a car loan based on your |
| One of the reasons "not" is that these types of buy | | | | monthly income. There are companies online that can |
| here pay here places don't give you actual auto | | | | provide you with a real car loan, based on what you |
| financing. What they do is allow you to drive the car, | | | | make each month. There are other basic |
| insure the car and when you finally pay the car in full, | | | | requirements, like having a job and so forth, but it's a |
| plus interest, give you the title. It's not a real car loan | | | | much better option that using buy here pay here. |
| and won't help your credit one bit. | | | | Perhaps you should explore this way of getting |
| Down payments are a strict requirement to get this | | | | approved? You have nothing to lose and everything to |
| type of "financing", if that's what you want to call it. | | | | gain. |
| Whatever the car lot paid for the car is what you'll be | | | | If you do choose to use a "tote the note" dealership, |
| required to put down as a deposit. If the vehicle gets | | | | just be very cautious. Have the vehicle checked out |
| repo'd for you just being a couple days late on a | | | | by a mechanic that you trust, and read the fine print in |
| payment, that money is gone. | | | | the contract very closely. Reading it very closely twice |
| Losing that money that you spent on a down payment | | | | won't hurt either. |
| will put you in even more of a predicament. Having | | | | |