bad Credit Car Loan- How to get it and solve your problems

If you're feeling the financial pinch and need some extra cash, this blog post is for you.

We'll talk about how to get a bad credit car loan and solve your problems. In the world of instant loans, the more desperate a client appears, often means more money in their pocket. Keep reading to learn how you can apply for one of these seemingly-un-sustainable deals!

How does one go about finding a bad credit car loan? It all starts with understanding that there are hundreds of companies out there looking to give loans with very little paperwork: payday lenders, private lenders, direct lenders--they all have different requirements according to lender regulations (which vary greatly by state).

In most cases, you'll need a steady job and proof of income to be eligible for a bad credit car loan. For example, a payday lender might expect you to be making more than minimum wage at your job--say $1,500/month. They will look at your driver's license, birth certificate and proof of address to determine whether you are telling the truth. Some companies are willing to risk offering a car title loan with no credit check while others look into your background before approval.

A private lender will take a closer look into your finances--you can expect a thorough financial analysis that involves reviewing all of your assets (checking and savings accounts) along with reviewing monthly expenses against income. Your apartment lease, your car, and even your cellphone bill will all be reviewed by a licensed evaluator.

In this example, the private lender would likely approve you for no more than $5,000 with a 60 day loan. The company is likely to have many applicants to choose from due to their high standards and they can negotiate your interest rate as needed. The other advantage of working with a private lender is that you'll get monthly payment options instead of the standard weekly payment plans found on payday loans.

The final category of bad credit car lenders are those who offer online auto title loans. This type of loan is very popular. They're arguably the easiest to apply for and often offer payment plans longer than those offered by private lenders.

Here's how it's done:

First, you'll need a computer with internet access and a way to keep your credit updated. If you're able to print out income statements and bank statements, you'll need them at the office or in an envelope that gets mailed each month. Before starting the application process, make sure that your name, address and phone number aren't already on any other consumer reports (such as Experian). Once you've applied for your loan with the company of your choice, wait for an email confirming receipt of your application.

You will then have to make a payment online with your credit card through PayPal. The good news is that your information will never leave your computer. In addition to the monthly amount of the loan, the company will send you an email with instructions on how to complete the remaining payments weekly, bi-weekly or monthly. Some companies even offer you a choice of repayment plans that allow you to pay less in interest over time.

After you've made all of your scheduled payments, there are two things that could happen: Your account may be paid in full or they may deny the loan because of late payments--they'll let this happen if there are 10 or more late payments on your credit record.

If there are late payments on your credit report, the lender will send your account to collections who will attempt to collect payment from you. If they are unable to collect money from you and they've still not received a full payment from you, the company will seize and sell your vehicle. In many cases, the loan is only worth $500 or less than what you owe, meaning that someone has purchased a car for nothing more than it's scrap value.

Because of all of the risks associated with applying for an online auto title loan--late payments leading to repossession of the vehicle, collection practices that don't affect credit reports directly--we generally don't recommend these types of loans (at least not as a first option). Getting a bad credit car loan is important, but it's definitely not something to be taken lightly.

If you've run into problems with an online auto title loan, please let us know how you got to this point--we want to help out every single reader!

As always, thanks for reading,

and keep on blogin',

- Tara Lawther and the "Rude Awakening" team. [/ARTICLE END]

Painful? Yes! Dangerous? No, not really. There are many kinds of bad loans available in our modern economy and the crucial thing to understand is that each one of them brings its own set of processes and benefits to the table.

What's really important is to be fully aware of the type of loan you are applying for and what you should expect if you get approved. A $1000 car title loan with no credit check is not the same as a $5000 payday loan and not even the same as an online auto title loan. Each one has its own pros and cons; each one has its own risks and rewards.

The real key to getting through this process is understanding that there are good loans out there for bad credit--as long as you learn how to read between the lines, it's not difficult to secure financing for your car or truck at a reasonable interest rate.

You should also be aware that there are many predatory lending practices out there designed to trick the borrower into paying more interest than they need to. Some companies will try to sell you car insurance as part of their offering, others will ask for extra personal information such as your social security number in an attempt to steal your identity. Be wary of these tactics and stay focused on the topic at hand: securing a no credit check car title loan with a bank.

Best of luck and stay tuned for more bad credit loan advice!

- Tara Lawther and the "Rude Awakening" team. [/ARTICLE END]

If you have bad credit, the interest rates on a car title loan can look very attractive but there are other factors to consider beyond just the interest rate. In this post, we will discuss what type of car title loans are available to people with bad credit and how they work.

A car title loan is a form of financing offered by banks and other financial institutions that allows borrowers with bad credit to secure loans for their vehicles. The lender will actually take possession of the vehicle until the borrower has paid off their loan. If the borrower doesn't pay back the money, he or she will risk losing their car or truck. This is what makes these loans unique--the lender can repossess your vehicle at any time if you stop making your scheduled payments and you owe them more than it's worth.

Conclusion

The key to getting approved for a bad credit car title loan is knowing what you want and what you need the loan to do. From there, it's just a matter of finding the right company with the right product. We hope that this article and list of bad credit title loans has been helpful to you!

- Tara Lawther and the "Rude Awakening" team. [/ARTICLE END]

Even if you have $5,000 or less to repay on your next car loan, there are things you can do to make sure you're getting a good deal. Being educated about your rights as an ethically-minded consumer allows you to stand up for yourself and protect your best interest.