Auto loans for people with a bad credit history:
not as hard to get as you might think
Here's the story in three bullets: Survey after survey has shown that poor credit history auto loan customers are grateful for the opportunity and therefore quite appreciative and loyal. That's important for a car dealer because they spend hundreds of dollars per car when it comes to marketing. When you refer a friend to the dealership, or when you return to buy a second car, that's gold to a dealer, instant higher profits. And in today's hyper-competitive marketplace, that's huge. There's another reason dealers like this particular market niche. Dealers generally wind up with cars on their lot, counting trade-ins and all, that cover a wide price range. The cars in the middle -- around $10,000 -- are the ones most attractive to lenders when making bad credit history loans. So it works out to be a win-win-win; banks are comfortable on the amount, dealers move cars, and you're not stuck in an old beater anymore. |
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