Buying Your Dream Car Without Credit Worries?

Now, if you find yourself in a position to secure a  bad credit car loan for a used vehicle, then you will probably be able to get yourself the vehicle you desire within a day.  The lender or dealership issuing the loan minimizes their own risk by having you provide collateral — the title of the vehicle itself, or some other item of value.  What this essentially means is that the collateral you put down, whether it be the vehicle itself or some other worthy property, is your personal guarantee that you will make the payments on your auto loan, no matter what kind of credit troubles you’ve had in the past.

Obviously, this means you really need to have a steady source of income in order to pay off your loan.  At, we cannot in good faith encourage you to enter into an auto loan contract unless you have enough reliable income to make each and every payment on time.  Otherwise, you will only worsen your credit status.  If you miss payments, you risk losing the collateral you put down — a VERY bad position.

The other option is to get yourself a unsecured version of the back credit used car loan in which you as a consumer will assume less of a risk since you are no longer putting up collateral for the loan.  But, as always, there are drawbacks:  in this case, the bad credit lender assumes more risk than usual, which means you will more than likely have to pay extra fees, or agree to stricter terms such as weekly rather than monthly payments.
Whichever option you choose, we urge you to be smart about your spending.  Let’s be straight:  our business makes money from referring consumers to trusted lenders, but we don’t watch you, the consumer, jumping into anything you’re not ready and prepared for.  There are no easy outs from a bad credit position — that’s all spammy BS.  The only way out of bad credit is making good on future contracts.  Enter into an auto loan when and where you know you can make the payments month in and month out.  Don’t overstretch.  That’s what the title of this post refers to — your dream car.  Getting to your dream car is a step by step process — if you could hop right into the driver’s seat, no obligations, no debts, then everybody would be riding around in Ferraris or Lambos or ’71 Boss 351 Mustangs with Ram Air hoods and black racing stripes.  Just because you have bad credit doesn’t mean you can’t get the vehicle you want — just make sure you agree to a loan on terms as much yours as the lender giving you the money.