| Buying a car with a bad credit is not leaving car buyers | | | | you that this is the only way to get finance since you |
| with a lot of options. Sometimes their only choice for | | | | have a horrible credit history. It will not be difficult to |
| finding finance for their new purchase is a car dealer | | | | convince you - first of all it sounds reasonable and |
| loan. | | | | second of all the car dealer will make you believe that |
| Car dealer load deals are not that bad as many | | | | this will in fact repair your bad credit. Later you will |
| people think. However it is true that they may hide a lot | | | | discover that your name is not included in the loan |
| of surprises so if you are planning to use a car dealer | | | | documents and that the loan in the name of the |
| loan you should be extra careful. | | | | "co-signer" although you are repaying it. Not only that |
| The first thing to watch out for is if the interest rate is | | | | this is in fact illegal and may lead to serious penalties |
| fixed. By fixed we mean clearly stated in your | | | | but it is not helping your bad credit at all. If a car dealer |
| contract and that all is written in a way that wouldn't | | | | offers such thing to you must refuse. |
| allow the car dealer to change it later. What many car | | | | If you are a bad credit customer and have difficulties |
| dealers do is to approve your car loan application, | | | | finding a loan, it is quite obvious that you should not |
| make you sign the documents and give you the car. | | | | overstretch. This means to buy a reasonably priced |
| Later they just give you a call to say that in fact you | | | | car and not to buy any extras such as extended |
| do not qualify for this loan because you are with a bad | | | | warranty. However many car dealers will try to trick |
| credit (which you already know anyway) and that you | | | | you by making you believe you must buy a warranty |
| will have to pay higher interest rates. If you fall into this | | | | that will increase your loan in order to qualify. Since you |
| situation either try to find financing from another place | | | | are desperate in getting the car you would say OK. |
| or report this scam and fight back. | | | | However if you think for a second you will easily see |
| Another very popular scam applied by car dealers is | | | | that this is simple trick to increase your loan. |
| to make you find a co-signer for your loan dumming | | | | |