Guaranteed auto loan is given by many USA car dealers. A low interest rate is charged on the lending amount. Other than approving used car loans, many dealers also give extended warranty on used cars.
People particularly with a bad credit history can now apply for a car loan with confidence. A vast number of auto dealers are approving guaranteed auto loan to potential car buyers who have a zero balance in their bank account. It is a fact that banks and such other financial institutions do not lend money to people with a constrained budget. However, these individuals can easily get in touch with an authorized car dealer to realize the dream of owning a vehicle of their favorite brand.
With the help of an auto loan, anyone can buy a car at any time. The interest rate is low, and the down payment amount is nominal too.
Key features of guaranteed auto loan are as follows:
Poor Credit is not a Problem
Individuals can make their car purchasing plan a reality with the help of a car financing loan. This means you will get an opportunity to go for a long drive with your family or friends even if you have a bad or no credit score.
Guaranteed Loan Approval
Automotive dealerships approve any amount of car loan to anyone including students.
Online Application
With the advent of the internet, no longer you need to visit a dealer’s office to collect a hard-copy loan application form. On the dealer’s corporate website, you can easily fill up a soft-copy form and submit the same instantly. Within a few days, the company officials will either call you or email you for a face to face meet.
Low Interest Rate
Another reason for a maximum number of people relying on a car dealer is because of the low amount of interest charged on the lending amount. Unlike a bank and similar financial institution, a car dealer usually charges a nominal interest rate on a bad credit loan. Thus, people need to count on a less amount of money at the time of loan re-payment.
Low Down Payment
A nominal amount of money is charged as down payment at the time of purchasing a vehicle. However, I have even heard about dealers who don’t even charge a down payment.
There is nothing to believe you will not get a loan to buy used cars. Apart from sanctioning new car loans, almost all dealers approve used car loans. Guaranteed loan is usually given to potential buyers eager to purchase a low-priced second-hand vehicle from a trustworthy seller.
RSS Feed