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Bad Credit Auto Loans

One of the biggest fears people with bad credit have is not being able to buy a reliable vehicle for transportation. These fears are overblown and many people are needlessly going without cars or driving clunkers because they have bad credit.

Most of these people could probably get bad credit auto loans to buy a car or replace their clunker if they were willing to look for them. Contrary to popular belief car dealers and loan companies are willing to work with people who have bad credit.

Shopping for bad credit auto loans

Shopping for a car when you have bad credit is no different than shopping for a car with good credit. You have to be willing to shop around, to visit several different dealers and to look carefully.

Start looking for a car now and take your time. Go to a number of dealers not just the ones that advertise bad credit auto loans. Once you’re at the dealer look at the cars and if you see one want ask about that vehicle. Ask how much the car is and what options are available for car buyers with bad credit.

Listen to the salesperson and don’t make a hasty decision. If the bad credit auto loan offer sounds good take it, but if it isn’t what you want don’t be afraid to walk away. If the dealer can’t give you a good deal on a bad credit auto loan, go elsewhere there are lots of dealers that make bad credit auto loans available.

Don’t let car dealers bully you because you have bad credit

One mistake many car shoppers make is to let car dealers intimidate them because they have bad credit. These people feel embarrassed or ashamed because of their credit record. Worse many of them let car dealers talk them into a higher price and a higher interest rates on bad credit auto loans or into buying a vehicle they don’t want.

You are not a second-class citizen because you have bad credit. Your money is just as good as everybody else’s and the car dealers still want your business. So don’t let them intimidate you, if they don’t give you a good deal because you have bad credit walk away. When you do walk away let them know why.

It’s a buyer’s market for cars

Car dealers will work with people with bad credit because they lose money when a car sits on a lot. This means that people with bad credit maybe able to get a good deal on bad credit auto loans if they’re willing to help dealers get cars they can’t sell off the lot.

Now is a particularly good time to do this because auto sales are weak because of the bad economy. New and used car dealers alike have large inventories of cars they can’t get rid of.

A car buyer can take advantage of this by shopping for models or makes of vehicles that aren’t selling well. An example of a brand of cars that isn’t selling well right now is Chrysler, Chrysler still makes excellent vehicles and has excellent dealers. This means that buyers who are willing to buy Chrysler and Dodge vehicles can get some really good deals.

Another way to get a deal on bad credit auto loans is to shop for used cars. Used car dealers are much more likely to give bad credit auto loans than new car dealers. Even some new car dealers are willing to give people good deals on bad credit auto loans because of the car market.

Good deals on new cars and cash for clunkers promotions have left many dealers with large inventories of used cars. Dealers are often willing to give people with bad credit auto loans in order to move these vehicles off the lot.