Can Bad Credit Borrowers Get a Guaranteed Car Loan?

In spite of the fact that you have bad credit, you may still need wheels. And often, the only way to get those wheels to finance them. A guaranteed loan approval is usually a good way to find yourself in the driving seat of a new or used car. Believe it or not, there are thousands of lenders online who are eager to provide you with a guaranteed approval, even without a credit check. Getting a guaranteed car loan is not that difficult.Do Not Play The Usual GameWalking onto a dealership lot with no idea of how you are going to finance the purchase and not even a good idea of how much you can afford, you are walking into trouble. You will succumb to the dealer persuasion, even be convinced the dealer is doing you a big favor. Your big favor will be high interest rates and heavy monthly payments. Do not get caught in that trap. Do not go car shopping until you have gone shopping for a guaranteed car loan, especially if you have bad credit.Online Lenders Are CompetitiveThere are plenty of lenders available online. And there are plenty of borrowers with poor credit. So, competition is fierce. With patience and diligent research you could find a pretty good deal, maybe even one that rivals those for good credit borrowers. Some new lenders, scores enter the market every day, may even be willing to offer you even more special terms because they want your business. Do not be afraid to drive a hard bargain. Some websites are actually comparison sites, you punch in your vitals and you get bids for a guaranteed car loan from various lenders, usually within minutes.Advantages of a Guaranteed Car LoanNo matter where you shop for a loan, it is a good idea to have a pretty good notion of what you can afford to pay every month. You will also want to consider taxes, tags, title, miscellaneous fees, insurance, and maintenance as well. Calculators are available online and they can help you do your finance figures regarding disposable income and various combinations regarding rates and payments.A Guaranteed Carl Loan Is Like Shopping With Cash In HandOnce you have that figured out, get a loan guaranteed to reflect that amount. Then you can go car shopping as if you have cash in hand. Ergo, you will face no dealer pressure regarding financing, just the usual car spiels. This can work for new or used cars, but at this point you may want to scale back. Get a good used car at an affordable rate. Save a little cash on the side. Within a year or so, with your improved credit scores and a newly saved down payment, you could be ready to slide into your dream car.Benefits Beyond the Buggy with a Guaranteed Car LoanHaving a car loan and paying it off in the expected manner can provide a wealth of health to your credit report. If you pay regularly for awhile, you may even be able to roll the loan over at a lower interest rate with lower monthly payments. In spite of your bad credit or bankruptcy, it will feel good to be driving around in a substantial car while cleaning up your credit rating at the same time. And that's what a guaranteed car loan can help you do.