If you have bad or poor credit, getting prequalified for a car loan BEFORE you start shopping for a vehicle is a good idea. Unfortunately, having a poor credit history can sometimes make it very difficult to get the car financing you need for the car you want. The “fun” can quickly be taken out of the car buying process when you find a vehicle you want only to be turned down for financing because of your credit scores. This is because many car dealerships don’t do their own financing. In fact, dealerships act more like a middleman, qualifying loans for potential car buyers through their private lenders. Because of this, these private lenders will typically turn down buyers with poor credit.
By prequalifying your car loan, you can avoid the frustration and embarrassment of having your car financing denied at a dealership. Don’t let “less-than-desirable” credit get in your way! There are plenty of lenders out there that are more than willing to provide quality financing to people with bad credit. Many lenders will even prequalify you for a car loan in advance of purchase. This is a great situation because when you prequalify for a car loan, you know EXACTLY how much money you can afford to spend on an automobile before you fall in love with one. Knowing what you can afford will help prevent you from making the mistake of overspending.
When you prequalify for a car loan, you can walk into the dealership as if you were a cash buyer. First, you will have the assurance that you cannot be turned down for financing; obviously, because your loan has already been pre-approved! Further, you will also have the freedom to negotiate the best price possible for a vehicle without having to negotiate on your financing.
CarLoanMarket.com can help you get prequalified for a car loan! CarLoanMarket.com is your source for online auto loans. We specialize in providing car financing for car buyers with less than perfect credit. Also, prequalifying for an auto loan with CarLoanMarket.com is easy! Our simple FREE online application process can be completed in just a couple minutes!
Get prequalified for a car loan with CarLoanMarket.com today! You could be driving that new car of your dreams tomorrow!