What our Income Based Auto Loans can do for you.
Car loans based on income not credit!
Income Based Auto Loans is your guide to low income car financing close you, in spite of your prior credit issues.
Our service is Fast, Friendly and best of all, totally FREE!
Before you fill out our quick contact or application forms, please use our Prequalification Tool to get our opinion on whether you will be able to qualify for a loan.
If bad credit has been holding you back from purchasing a quality used vehicle, look no further. We can help you get the income based auto financing you deserve. We have a huge network of dealers and lenders all over the country that have helped countless numbers of people just like yourself drive great cars, used and new, while at the same time re-establishing their credit! Did we mention we can get you a quality used car with a warranty? Best of all, our service is FAST, FRIENDLY and FREE! There is definitely NO OBLIGATION by you, the buyer. Our job is to locate for you the vehicle you desire with the financing you need, all at a price you can afford.
Our service has helped countless people find a dealer to work with them, in spite of their previous credit problems. We handle almost every situation imaginable: Bad credit, no credit, repossessions, bankruptcy, charge-offs, divorce, slow pays, self-employed, SSI, and many others. Each persons situation is unique, and we handle it as such. We have small payment plans to fit just about every budget. We may even be able to get you driving today!
Let Income Based Auto Loans find the dealer and lender that can get you driving the vehicle you desire. Our finance specialists are standing by to assist you.
What You Need to Know About Bad Credit Car Loans
In the event that you have awful credit, the web has made getting an auto advance less demanding than at any other time. You now have a greater number of alternatives other than simply going about getting financed through a dealership. Going on the web can spare you time and you will discover as a rule, you will improve financing choices than through the conventional means. Not exclusively will it eliminate the time you need to spend at the dealership however the procedure will be substantially less upsetting on you too.
When you have terrible credit and you step foot into a dealership, it isn’t a lovely ordeal. You stroll in, they have round out a short application, they pull your credit and afterward they come to you and say, “In view of your credit, you fit the bill to purchase this auto.” Why would it be advisable for you to have the merchant disclose to YOU what to purchase when you ought to reveal to THE DEALER what you need to purchase? As a purchaser with terrible credit, be set up for these things that any loan specialist will ask of you:
No issue how awful your credit is you ought to never distort data on a credit application. Moneylenders are searching for borrowers who they trust and who they accept will reimburse their credit commitments. On the off chance that a moneylender finds that you have lied about data on your application, that is a prompt turn down by and large. You need the bank to have confidence in your capacity to reimburse the advance and distorting data on your application is one approach to indicate you can’t be trusted.
Verification of Income:
With terrible credit, banks will need you to demonstrate you profit you state on your credit application. Your latest stub from your paycheck will do more often than not yet there are times where the moneylender will need to call and confirm this data a chief or your HR division.
Proof of Where you Live:
With awful credit, a bank will likewise need to see verification that you live where you say you live on your application. This is one approach to demonstrate some security. Typically giving an electric bill or water charge demonstrating your flow address and that it is in your name will be verification enough for the bank. There are situations where a loan specialist will need to converse with a landowner to confirm this data too.
I know going out and getting an auto advance with awful credit is a scary ordeal. It is extremely not that terrible and utilizing the web for your next auto credit is super helpful. Not exclusively will you have the capacity to do a lot of research about the greater part of your choices however the web is open all day, every day so you can apply for an online advance whenever and anyplace. The online application process is very basic and takes only a couple of minutes to finish. As a rule, you will find a solution back inside 24 hours. Keep in mind these straightforward principles and you will be en route to the auto or truck you had always wanted in a matter of moments!
Chris Goodman has been in the automobile back business for over 20 years and has helped a huge number of shoppers with their auto advance needs. His articles are smart and help purchasers in understanding the intricate details of car fund. OpenRoad Lending is an online bank with a shopper driven site giving automobile financing answers for buyers during the time spent acquiring another or utilized vehicle or renegotiating their current auto. Visit the site at http://www.openroadlending.com for more data about how simple it simple to get an auto advance.
Frequently Asked Questions ( FAQs )
Are you a lender?
We are not a direct lender. We are a service for people that matches up car loan applicants with local dealers and financial institutions.
I have no credit. Can I get an auto loan?
If you have no credit, then you can start your loan process with us. We can assure you it will be a good one.
I have a bad credit history. Will I get an approval for auto loans?
The companies and dealers we work with accept a variety of applicants, many of whom have a poor credit history. We will likely be able to provide you the right help no matter how bad your credit situation is.
How much time will it take to get an approval?
As soon as you apply, we start the processing of your application. Usually you will receive a response from a participating dealer or financial institution within a few hours. And then you’re on your way to buying a car of your choice.
What interest rates will I qualify for?
The interest rates you will pay for auto loans will depend on loan amount, term, credit rating, repayment ability and market trends. A dealer or financial institution will contact you with more information after you apply.
Is it necessary to have a co-signer?
It is not a requirement for have a co-signer. But with a co-signer you can likely get better interest rates.
Is my personal information secure?
Will I be charged a fee if I apply on your site?
The application process is absolutely FREE! We are funded through alternative means.
What kind of vehicle am I entitled to purchase?
This will depend upon the size of the loan and the terms extended to you by the dealership. After you apply, they will get in touch with you to provide you with more details.
What are the basic requirements to qualify for an auto loan?
US Residents at least eighteen years of age.
What if I’m Self employed?
Being self employed in most cases is not a problem.
What if I have a trade in?
Trade ins are welcome – running or not. If you owe money or have clear title we can help.
What if I have a repossession?
Many of our customers have had repossessions in the past. Our Business Is Helping You, The Customer Re-Establish Credit
What if I have a bankruptcy?
Whether it’s a discharged chapter 7 or an active chapter 13, we have many lenders that specifically specialize in auto loans for people who have this specific need.
What if I don’t have money to put down?
We have Many Programs that either allow you to put Zero Money Down, or when a down payment is required, allows you to defer all or part of it.
What is my interest rate?
Interest rate is determined by the lender. In short, the greater the risk they feel exists the more interest rate they will apply. However, in Most States the law protects the consumer with a maximum interest rate of 17.95% on all 2001 and newer vehicles.
What if I have a new job?
This is mostly a myth. Everybody changes jobs. What they are looking for is your ability to repay the loan.
What if I’m Disabled or on Social Security?
Being on disability does not hinder your ability to obtain financing. As far as Social Security goes, Who could argue that you have a pretty secure income
How much income must I have?
The usual minimum income required is about 1200 per mo. But varies from lender to lender.
Do you report to the major credit reporting agencies?
All of our loans are 100% bank financed and the payment history is reported monthly.
What if I’m a first time buyer?
We have many programs for first time buyers.
What if I’m upside down in my trade?
In most cases we can get a little extra help from the bank to overcome negative equity.
How much will my monthly payment be?
This is determined by several factors. Amount of purchase, interest rate, term and down payment. To Help we have added a payment calculator.
STANDARD WARRANTY* INFORMATION
LIMITED WARRANTY. The dealer will pay 100% of the labor and 100% of the parts for the covered systems that fail during the warranty period. Ask the dealer for a copy of the warranty document for a full explanation of warranty coverage, exclusions, and the dealer’s repair obligations. Under state law, “implied warranties” may give you even more rights. ($0.00 deductible per claim)
DURATION: 24 Month/24,000 Miles
ENGINE: All internal lubricated parts, cylinder block and head/head gasket, intake gasket, fuel pump, oil pump, thermostat, timing gears and chain/belt, valve cover/valve cover gasket and water pump.
ELECTRICAL: Alternator, starter, starter solenoid, battery, battery terminal, oxygen sensor, oil sensor, distributor cap and rotor, spark plugs and wires
TRANSMISSION: All internal lubricated parts, seals, gaskets, torque converter, and transmission case
FRONT WHEEL DRIVE: Axle shafts, final drive housing and internal parts, front-wheel bearings, and universal and constant velocity joints, inner and outer tie rod ends, steering rack and pinion, idler arms, upper and lower ball joints, steering linkage and power steering pump
REAR WHEEL DRIVE: Axle shafts, drive-axle housing and internal parts, driveshaft, rear-wheel bearings, retainers, universal and constant velocity joints
HEATING AND COOLING: N/A
The Limited Warranty begins at the time of purchase and ends when either the time or the mileage selected expires, whichever should occur first:
* Limited warranty or service agreement. Warranty may vary by dealer. See dealer for full details.What You Need to Know About Bad Credit Car Loans
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