| So your credit history is not what it should be but you | | | | loans approved through their finance department. It's |
| want to buy a car with bad credit. Every dealer you | | | | true! Dealerships will usually like to submit your |
| visit seems to want a big down payment. If you're in | | | | applications with lenders they often do business with |
| the market for a new ride but don't want to deal with | | | | on a regular basis. Their lenders will make an offer for |
| a huge down payment, then reading this article will help | | | | your specific deal for let's say at an 8% interest rate. |
| you to find out how to make this happen. Realistically | | | | Because you're trying to buy a car with bad credit, the |
| dealers want a down payment for a couple of | | | | dealer knowing this in advance will try to convince you |
| reasons: | | | | that the offer made by his lender was actually 11% or |
| First because it can help to increase the amount of | | | | more depending on how much profit he is looking to |
| profit they make on the deal. The second reason is to | | | | make on your deal. Telling you that you have been |
| help to reduce the amount of money needed to have | | | | approved for a higher rate auto loan is no surprise to |
| the deal financed through his personal lender. This | | | | you; so you may accept this offer and wind up paying |
| could potentially have his lender approve your auto | | | | thousands more for a car or truck you could have |
| loan easier and have the deal go through and make | | | | purchased for less money. The dealer gets a bigger |
| sure the dealer makes a great commission for bringing | | | | commission for his efforts and you wind up paying |
| his lender your business. Depending on the dealer to | | | | more in the long run. |
| make the deal happen is usually going to cost you | | | | Now here is the truth no car dealer wants you to find |
| more than you expected. | | | | out: |
| To buy a car with bad credit doesn't mean you need | | | | You are able to buy a car with bad credit and with no |
| to use the lender's finance department to get your loan | | | | down payment! You'll also be able to find lower |
| approved. If you believe your local bank will not | | | | interest rates by simply searching for your auto loan |
| approve a loan for you with no down payment, then I | | | | online. You'll often get multiple offers in less than 60 |
| have some great news for you. | | | | seconds and avoid dealing with the marked up rates |
| Here is a secret the dealer doesn't want you to know: | | | | the dealer's finance department will create in order to |
| Dealerships always increase the retail price of all their | | | | increase their commissions. By finding your own auto |
| cars and trucks. We all know this to be true, but what | | | | loan online you can walk into any dealership and pick |
| you may not know is they also increase the interest | | | | out the car or truck you truly deserve. |
| rate in order to increase their commissions on the | | | | |