Already on ArticleSlash?

Forgot your password? Sign Up

Auto Loans Bad Credit - Now Your Bad Credit Score Will Not Ruin Your Hope of Buying a Vehicle


Visitors: 164

Auto loans bad credit is targeted for the people who have bad credit score. But having a bad credit score cannot stop anyone from dreaming of having a car. These loans are the convenient way to solve your problem.

You can get the loans in two types. First is secured and other is unsecured. No collateral is required to be kept against the unsecured loans. For secured loans, collateral is kept. The loan is different for different borrowers. It depends on the market value of the car and the repaying ability of the borrower.

The rate of interest of Bad Credit Auto Loans is higher for the unsecured loans, as it is with any other loans. The interest rate in secured option is 6%-11% and in unsecured option it is 14%-18%. The important tip for you will be to pay a bigger amount as down payment to lower the monthly installments.

The repayment tenure for auto loans bad credit is 48 weeks to 60 weeks. The unsecured loans are allotted shorter period to pay back the amount as no security is involved.

These loans are available from the traditional sources like banks, financial institutions and online lenders. The vital point to be taken care of is comparison between different rates offered by different lenders is important to get the best deal. The websites of online provide you with calculators to make our calculation easy and on the spot.

However, if you can manage a co-signer who have good credit score then the interest rate is lowered which is otherwise not possible. The eligible borrowers for these loans are the person with credit score below 600.

Carney Alden is a Masters in Accounting and Financial Management from Lancaster University Management School. Having completed his Masters in Finance from Derby University. He provide useful advice through his articles that have been found very useful. To find Bad Credit Auto Loans , Auto Refinance, Auto Financing, visit


Article Source:

Rate this Article: 
Adverse Credit Secured Loans Give Those With A Poor Credit Rating Hope
Rated 4 / 5
based on 5 votes

Related Articles:

Credit Score Incorrectly Reported In Your Credit File Will Ruin Your Financial ..

by: Sam Ness (June 17, 2007) 

Bad Credit Auto Loans - Car Loans Even With A Poor Credit Score!

by: Andrina James (December 15, 2007) 
(Finance/Personal Finance)

Get the Vehicle You Need With the Bad Credit Auto Loans

by: Johns Tiel (June 16, 2008) 
(Finance/Auto Loans)

Poor Credit Auto Loans - Easy Loans For People With Poor Credit Score

by: Frank Dervin (August 28, 2008) 
(Finance/Auto Loans)

Auto Loans For People With Poor Credit - Do Not Lose Hope

by: Kalvin Jason (September 05, 2008) 
(Finance/Auto Loans)

Live Your Dreams of Owning a Vehicle With Auto Loans Bad Credit

by: Carney Alden (July 25, 2008) 
(Finance/Auto Loans)

Auto Loans Bad Credit - Cash Assistance For Purchasing Any Vehicle

by: Frank Dervin (July 15, 2008) 
(Finance/Auto Loans)

Avail Cash For Vehicle Purchase With Auto Loans For No Credit People

by: Frank Dervin (July 17, 2008) 
(Finance/Auto Loans)

Car Loans For Bad Credit - Follow Your Dream of Buying a Vehicle of Your Own

by: Christian Phelps (August 10, 2008) 
(Finance/Auto Loans)

Adverse Credit Secured Loans Give Those With A Poor Credit Rating Hope

by: Jason Hulott (December 27, 2007)