Financing just got better for Denver car buyers

July 12, 2010 - PRLog -- Mark’s Auto Sales is glad to announce that there are even more options for used car customers to get financing. There are a banks with special financing that are looking to add to their portfolios.

“This is great for the customer who has either had a bank loan before but had a few mishaps in their credit in recent years, or the buy here pay here car buyer who has been working hard to build their credit,” according to the Mark’s Auto Sales management, http://marksautosales.com/about_us.php, in a recent meeting.

In recent years when the banks withdrew their special financing programs most of the used cars, http://marksautosales.com/autos.php, sold at Mark’s Auto Sales were financed through the buy here pay here program. Buy here pay here is also known as dealer financing at other dealerships offering this in-house financing that can be more forgiving to bed credit, or shorter time on job or at their current residence.

“In general, there are more restrictions by banks’ underwriting departments setting minimum income, minimum time on job, and minimum time at residence to get a loan” according to Staci the marketing director. Banks have their loan programs broken in different tiers based on their underwriting. Often their prime customer has a higher credit score, longer time on job and time at residence, and results in a lower interest rate for their financial stability and are statistically less likely to default on their loan.

Currently there are loan programs available in the tier called “special finance.” Mark’s Auto
Sales http://www.marksautosales.com/ has relationships with these banks and can submit your application for approval on a bank loan if you qualify within the programs. At Mark’s there is bank financing for customers who are up to date on their payments for any credit extended to them, have $2000/mo verifiable income, and approximately one year residency that can be verified.

If you are ready to buy, been working on your credit, but nervous if there is a loan program for you, there is. Between the bank programs and buy here pay here financing, Mark’s Auto Sales can get you approved. Give us a call and we can discuss the next steps to find the vehicle and the loan that you can afford and will help build your financial stability.