Sooner or later, we all hit a bump in the road. If that bump affects your income, your credit and you lose your car, as bad as it is, there is hope. Finding auto loans after repossessions is possible. It may take some time, but with a few steps in the right direction, you can bounce back and get a car loan after a repo.
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If you have ever wondered, “Can I get a car with no down payment?” the answer is, “Yes.” Though there are benefits of placing down payment, it is possible to get a car without one. In a perfect world, a 20% down payment on a new car offers a degree of lender confidence. Also, even if your credit score is low, in general, with a down payment, your monthly car payments will be lower.
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Buying a car with bad credit is a problem that no one wants to have. But things happen. Unfortunate circumstances such as prolonged unemployment or underemployment combined with a hefty medical bill may have landed you in debt and left you in the red on your bills. It’s not as bad as you think. Having bad credit should only be looked at as a temporary problem that you can fix! With that in mind, the good news is that securing financing for a car loan is possible even with bad credit. Here is some advice on how consumers with credit problems can still get a quality a used car.
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Getting a car loan after repossession can be a challenge, but it is not impossible. In most cases, having a car repossessed is due to unfortunate financial circumstances. Unemployment, underemployment, unexpected medical bills, increased rent or mortgage, and the like, can deplete savings and leave you strapped of cash. The result can lead to falling behind in paying bills and making car payments on time. If you fall too far behind, you open the door to a having your car repossessed. Repossession of your car will blemish your credit report for seven years following the date the loan went delinquent. At first, your score will drop significantly, making approval for a loan difficult. However, the impact on your credit score doesn’t have to last as long as the repossession itself. You can do something about it. How to get a car loan after repossession will depend on how well you
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How to finance a car with bad credit comes down to taking a few proactive steps. The fact is, you can find a car, finance it, and drive away no matter your credit woes. If you’re willing to do some shopping, be patient, with a little homework, you will certainly be able to finance a car that will work for you. Here are some practical tips and considerations for consumers with credit problems who are about to enter the car market.
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No credit car dealerships are often viewed with apprehension by consumers, when in fact they genuinely work to assist those with poor or no credit to find a vehicle that will fit their budget. Commonly referred to as ‘Buy Here, Pay Here’ (BHPH) dealerships, there are far more positives than negatives that are offered by these dealerships. Nevertheless, despite the key benefits of shopping at BHPH dealerships, misconceptions continue to persist and benefits continue to be often overlooked or ignored. The following are good examples of misconceptions and benefits of BHPH dealership:
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If you are in the market for a new or used vehicle, chances are you have tossed around what your best financing options are. Once you have selected the vehicle that is right for you and your family, you are going to want to have a plan in place on how you will pay for the vehicle. Below we discuss the benefits of putting money down on a vehicle and also offer some down payment tips.
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Raise your hand if this situation sounds relatable? You are in desperate need of a new used vehicle, but you have next to nothing in your savings and your credit is shot. This can be a paralyzing situation. Where do you turn to? A Buy Here Pay Here lot, like Auto Action is the answer. We are the premier used auto dealership in the Phoenix area, and offer programs to consumers with poor credit. We feature a huge variety of cars that will be sure to fit your lifestyle and budget.
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There are hundreds of AZ car dealerships throughout the state but there is only one leading buy here pay here dealership that offers the best vehicles at the lowest price. With locations throughout the state, Auto Action has been Arizona’s premier used car dealership since the beginning. When you are in the market for a new, “used vehicle”, there are a few creative ways you can save money on your purchase. Below we discuss 5 ways to save money on your next used car.
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Are you in the market for a vehicle upgrade? Purchasing a car is a big financial and life investment. One has to factor in saving for the car, laying down the money at the actual purchase, making loan payments and maintaining the life of your vehicle. Today we discuss some tips on boosting your budget to help with your used vehicle purchase, as well as some Phoenix buy here pay here options as well.
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