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Follow on Google News | Tips for Getting an Auto Loan When You Have Bad CreditIt can be hard to find the right auto loan when you have bad credit, and who knows where to start? Make sure you have the right loan information when you start shopping for your auto loan.
By: www.CreditCapitol.com Always read the fine print. The most important thing you can do is to read over everything before signing a contract. Make sure you understand all the terms and conditions of a loan before you agree to one, because it can be very easy to get caught up in the moment when you’re ready to sign and get your new vehicle. And if you don’t understand something, that’s ok, just ask! Seek out credit venders who want to work together to help you get into a car and an auto loan that you can afford. You should feel like you can count on the dealer's respect, which means they shouldn't be out to confuse you into signing up for something that isn’t right for you. Know your credit score. Another key factor for getting a good auto loan is to look up your credit score and know what you can expect when you come to the dealership. If you know your credit score ahead of time, you know there won’t be any surprises. This can help you to decide ahead of time what you can afford, so that you don’t let yourself fall in love with a car that won’t work for you. Get shorter term loans. Shorter term loans are great for your credit score! As we explained in 8 Missteps to Bad Credit (http://www.creditcapitol.com/? Always make sure that you come prepared. Know what you can afford to pay for a car every month and how long you can afford to pay it. Keep in mind that all of the monthly expenses you have for car, including your payments, gas, etc. should be no more than twenty percent of your income. It can be really tempting to go for the first car that you fall in love with, but you should know what your limit is ahead of time and stick to it. Calculate your loan. You can use this handy loan calculator to do just that (http://www.creditcapitol.com/? We know it can be hard to find an auto loan when you’ve had problems with bad credit. Your dealership should want to work with you and help you find the price that works best for you. Right now rates for bad credit loans have never been so low, so if you are in the market for a new car loan now is a good time to start looking. End
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