You have bad credit and dealer after dealer wanting money down. To buy a car with bad credit, no money down, you need to know a few things.
First, there are only two reasons that the dealer you want a down payment ...
The most common reason is because it adds to the profit prodaju.Drugi, less common reason is because it is necessary to reduce the total amount financed for approval by the lender. Trying to figure out what the real motivation that you push for cash is a little difficult so long as, you are depending on the dealer to get you approved.
Most people think that if you have bad credit, they have to use the financing offered by auto. Moreover, local banks will not give you the right loan? This is a common mistake that can cost you thousands of dollars in exorbitant finance charges.
Let me fill in the Little Big Secret ...
car dealerships mark the prices of cars. Everyone knows that. Did you know that they also mark up interest rates? Yes, they do. They apply for a loan lenders.Vjerovniku with the offer. Let's say you are approved for the rate of 9%. Guess what? Seller, knowing that you know you have bad credit will try to convince you that you have been approved at 12% .3% difference becomes nothing more than a profit to finance manager gets paid on commission. I guess they paid for it ... you. Your payments go up 10, 20, 30, 50 or even $ 100.00 a month just because they trade marked interest rates.
is true. you can buy a car with bad credit with no down payment and lower interest rates, simply avoiding the dealer finance department altogether. If you know where to look and prepare their funding (to be done on a daily basis), then you can have the confidence to walk into a dealership, choose the vehicle of your choice based on the amount of the finance company that I had to preapproves prodavačprovjeriti. This puts the power to negotiate prices in their favor.
auto dealers will be jumping over backwards for your business.