Enter your search terms Submit search form Web www.siteforarticles.com

Print | Send To Friends | Add To Favorites | Comment

Car Loans After Bankruptcy - 3 Tips On Financing Your Car With Bad Credit By: Carrie Reeder Article Word Count: 357 words  [Comments (0)] Total Views: 2 Views

If you have recently filed bankruptcy, you may wonder if its possible to get auto financing again. There are more and more loan companies all the time that have new programs to help finance people with bad credit. An auto loan is easier to get financing for than a personal loan or an unsecured loan because the lender can use the car as collateral against the loan, in case the borrower ever defaults or doesn't make the loan payments. Here are some tips to help you when getting financing to purchase or refinance a vehicle after a recent bankruptcy. 1. Get Financed To Re-establish Your Credit - Getting a new car loan can help you re-establish your credit when you make your payments on time. Once you have made payments on time for about 6 months or longer, you should be able to refinance your car at a much lower rate. As you make your payments on time, your credit score will increase. 2. Buy The Lowest Priced Car You Can - When financing a car after a recent bankruptcy, you can expect to see interest rates as high as 14-19% or more. It is not wise to buy a car that is more expensive than you need because, initially, you will be paying such a high interest rate on the amount you are borrowing on. If you do want a more expensive car, wait until you have made payments on time for a year or two, after your credit rating has increased. Then, you should be able to get an interest rate of around 9-10% or less. 3. Get Multiple Offers - There are many lenders online that will offer you up to 4 offers from one application. Most of these loan companies will not even pull your credit with the initial application, they will just ask you to describe your credit. This way, your credit score will not drop from being pulled too often. Article Source: http://www.articledashboard.com See my recommended After Bankruptcy Auto Lenders online. Carrie Reeder is the owner of ABC Loan Guide, which offers help with after bankruptcy car loans.

Print | Send To Friends | Add To Favorites | Comment

Related articles

Choose A Better Balance Transfer Card By: Joseph Kenny - If you are currently experiencing problems making repayment of your credit card debt, then the time has come to consider switching your credit card account to a 0% account.
 
How Your Credit Score Determines The Size Of Your Bank Account By: Kevin Erickson - Every time you apply for any type of loan or you are issued credit or you pay any bill, it becomes a part of the equation that determines your credit rating.
 
Loans For Bad Credit By: Matthew Bourne - Personal debt in the UK has soared to record levels over the past few years.
 
An Average Credit Score – It Is Important When Borrowing By: Peter Crump - The average credit score is the rating that the 3 major credit bureaus assign to your credit report.
 
Avoiding Bad Credit and Repair By: Keith Gloster - Staying in contact with your payments each month can help you avoid bad credit.
 
Credit Cards Bring Festive Cheer By: Peter Kenny - Christmas is almost upon us once again and the worry of meeting the demands that it has on our finances comes to the fore.
 
Prepaid Credit Cards By: Joseph Kenny - If you have a history of bad credit and are unable to obtain a mainstream credit card, then prepaid credit cards may be just the answer you are looking for.
 
Get Your Annual Free Credit Report – Why Pay For It? By: Peter Crump - You can get an annual free credit report from any of the three major credit bureaus.
 
Getting approved for a credit card By: Joseph Kenny - It is a fact of modern life that credit cards are an increasingly essential financial tool.
 
Do You Need To Improve? Credit Scores Count. By: Peter Crump - To improve your credit score, you have to take steps to improve the rating that the credit bureaus give you on your credit report.
 
Credit Card Minimum Payments Create Debt By: Peter Kenny - A credit card minimum payment means that you can spend more and pay as little back as the credit card issuer will allow you.
 
Rewards Cards: Convert Your Current Card By: Matthew C. Keegan - If you are a current credit card holder – MasterCard or Visa -- you may be overlooking an important way to make your card work even better for you: by joining a rewards program.
 
Credit Help For Renters And Others On The Horizon By: James H. Dimmitt - Sue is a homeowner and pays her mortgage and other bills on time like a good credit consumer.
 
The IMF Deconstructed By: Sam Vaknin - A Dialogue Between Tom Rodwell and Sam Vaknin, December 1998 By Sam Vaknin Author of "Malignant Self Love - Narcissism Revisited" The following is a standard IMF document, taken from its own website.
 
4 Steps to Creating Good Credit By: James H. Dimmitt - As a consumer youÂ’ve learned the importance of establishing a good credit rating with your lenders.