Jan. 17, 2013
-- Rebuild America Auto Program issued an alert to car buyers with damaged credit in the Greater Tampa Bay area on Wednesday, explaining the difference between a Tampa bad credit auto loan and “buy here/pay here” automobile dealerships. The alert was issued because it is a little known fact that unlike weekly payments made to a “buy here pay here” automobile dealership, the bad credit auto loans offered by Rebuild America Auto Programs can help to reestablish and repair credit.
Rebuild America Auto Program explained that car buyers who have experienced credit damage due to situations, like extended deployment in the military, are often unaware that there is a financing option that will allow them to purchase a low-mileage used automobile and repair their bad credit at the same time. Lenders will take a chance on a car buyer with a low FICO score who has at one time or another had better credit. These lenders understand that there are events in life that range from the loss of a job to the draining reality of a terminal illness like kidney failure, and these life events will lead to a dip in the FICO score.
Rebuild America Auto Program explained that borrowers need to understand:
· There is no way around an auto loan with a significant interest rate after there is a drop in the FICO score.
· If a borrower manages to make payment on a bad credit auto loan and all of the regular bills on time, they will typically qualify for a better rate of interest when you applying for a future auto loan
· Failure to pay on a Tampa bad credit auto loan on time will result in a further decrease in credit score.
The Washington DC based Rebuild America Auto Program specializes in Tampa bad credit auto loans for people who have gone through bankruptcy, foreclosure, long term lack of credit due to extended military service and even assistance for a first time buyer. Rebuild America Auto Program works with banks nationwide, in an effort to help people typically declined by most banks find credible financing for the car they need. Additional information about the Rebuild America Auto Program is available by visiting http://rebuildamericaautoprogram.com/index.htm
, or calling 1-888-865-1602.