Bad credit auto loans are hard to get. Anyone saying that no credit auto loans are as easy as a snap of the fingers doesn’t know what they are talking about. Dealers who say “auto loans guaranteed approved” are trying to get people onto their lot. I wouldn’t consider this the most honest of statements. Car dealers don’t have the reputation of being the most honest retailers in America. As a matter of fact they are at the bottom of the heap with attorneys. Honestly, when’s the last time you ever actually believed anything a car dealer told you? It’s best to do as much of you’re financing away from the dealership as possible. They look at auto loans as a profit center, not as a customer service. They are looking out for themselves, not for you. They give you the highest rate they can get you to take for their auto loans. Not the lowest rate available. So don’t make the mistake of thinking the dealer is putting your best interest first.
Auto loans are easier to get than many other kinds of loans but even auto loans are harder to get in 2010 than they were a few years ago. The real truth is credit is tight and any type of credit approval is tougher today. If you need one of the No Credit Check car loans that are touted all over the internet, then be prepared to pay a very high interest rate. Higher interest rates today than just a few years ago. Making auto loans is critical to the nation’s economic recovery so they will continue to be made but all borrowers will probably pay more interest and experience shorter terms. Things have changed and the sooner you recognize this the better you can prepare yourself.
So don’t get discouraged about Guaranteed auto loans. Use the internet carefully to search and find the best loans that work for your set of circumstances. Also negotiate diligently and don’t take the first thing you are offered if you think you are going to have trouble repaying it. Don’t get into more credit trouble by taking a “junk” auto loan. Look for the best auto loans you can find.