Credit

Your guide to getting a car loan with Bad Credit

A person’s credit history is basically an overview of their financial dealings. It represents their misdemeanours financially and also outlines how successfully they have been able to manage their credit card payments and debts. Unfortunately, keeping your credit maintained and up to date is not everyone’s cup of tea. People can often neglect their credit rating and end up facing the consequences of their action later in life.

Bad Credit Can Limit Your Options

One of the biggest disadvantages of bad credit is that it decreases the chances of the person availing different financial options from established lending agencies. For example, if you are looking to buy a car through car finance, lending agencies will be reluctant to lend their money to a person with a bad credit history. This can limit the options of car loan available to you.

Fortunately, the sheer number of people with bad credit has meant that financial institutions have now introduced car loans that cater specifically to people with a bad credit. This article takes a look at car loans that are offered to people with a bad credit rating.

What is a Bad Credit Car Loan?

Car Loans are simply loans that you take for the purchase of a car, whereby the car is kept as collateral for the loan. In case the payments for the car are not made on schedule the lender has the option of taking the car into their custody, selling it off and repaying the loan. Any amount surplus to the loan amount on the car is handed over to the owner of the car. Bad credit Car loans are similar to normal car loans only the interest rate being charged on the loan is often higher than normal owing to the risk involved in lending to someone with a bad credit.

How to Get a Car Loan?

Getting a car loan is important if you are in need of a car. Here are a few steps to outline how to get a car loan.

·         Look Around

Bad credit is a recurring problem which is why more and more financial institutions are offering loans to their clients in spite of their financial history. The key to getting a bad credit loan is to make sure that you look around and search the market for the best car loans.

·         Fill in the Form

Once you have chosen the place you are looking to get the bad credit car loan from, you need to fill in the form. This is the most important part. The form is also called a loan application where you will be asked to fill in your financial details, your personal details, your loan status and the length and amount of loan being sought. The loan application will determine whether or not you are allowed to buy a car, make sure you fill in the proper details.

Getting a car loan with a bad credit isn’t as hard, as long as you are able to find the right institution and convince them of your commitment to repay the loan.

Craaazay

What a day

Hi there and welcome to my blog. I love fashion, wine, and music… so if this isn’t your thing then I’m afraid you’re gonna have to find a different blog–sorry.

What I actually wanted to write about today was something that I saw on the way to work. So, I’m walking along the sidewalk and a sports car comes rolling up… real slow. It was bright orange… but I’m not sure what make or model it was–I’m not very good with cars. Let’s just say… that it looked really expensive. Kinda like a Ferrari… but not a Ferrari. Does that even make sense? I don’t know. Anyway… A young kid on his skate board slides past me and goes to cross the road. He cuts in front of the orange sports car that abruptly slams on the brakes and beeps his horn. The driver then flips the bird at the kid! I thought this was waaaay over the top… but what can you do? So… what does the kid do? He grabs his board and ‘WHACK!’ thumps it on the windscreen which cracks like and egg!! Holy Moly! I’ve never seen someone run so fast. The kid is off like a shot as the passenger scrambles to get out of the car and after him. The driver is sat there wondering what to do… he can’t see out of the windscreen I guess. So he parks up a couple meters down the road.

I wasn’t sure whether I should go up to the guy and give him a hug or to point and laugh. The latter would have been grossly inappropriate… so I just stared. I then figured… if you’ve got enough money to drive a car like that… then you’re going to have enough money to repair it. So… i was a little less concerned than I originally was.

I continued walking for a few more minutes where I see two guys jump the fence between two houses. It’s the skateboard kid and his pursuer! The kid lands on the drive followed by the car’s passenger. The kid lands awkwardly and stumbles to regain his balance as he moves across the lawn. The car’s passenger has a clean landing and gains on the kid before tackling him to the ground! Holy C@!p! They both scramble together on the grass before the guy manages to work his way on top of the kid and straddle him on his knees. He raises his arm above his head as to punch the kid before, out of nowhere, a man (probably the house’s owner, tackles the car’s passenger, knocking him off of the kid, who then runs away. The orange car then pulls up to find the two men grappling on the ground and the young lad several is meters away by now.

What a morning!