Finance Your Next Auto With A Guaranteed Car Loan!

Dec. 23, 2010 - PRLog -- Finance Your Next Auto with a Guaranteed Car Loan
There are many places, both locally and online, that offer guaranteed car loans. Often these can be a good place to obtain the best auto loan you can find, especially if you suffer from poor credit woes or have no credit history at all.
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To obtain a guaranteed approval car loan, you need to provide much less documentation than with a regular car loan. You will need to show that you have the ability to provide sufficient income in order to make the required payments on your guaranteed car loan, and some places also look at your employment history when deciding on the best auto loan terms. Obviously, the length of time you have been with your current employer also matters greatly; lengthier employment stints will result in you being viewed more favorably when it comes to securing a guaranteed car loan at the best auto loan rates.
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With a guaranteed auto loan, you may need to make a sizable down payment. Because companies that offer guaranteed car loans take greater risks than traditional lenders, they usually like to secure as much up front as they can get. Some of the best auto loans do not need as much of a down payment, so be sure and shop around.

Many dealers who offer a guaranteed car loan will also provide a warranty for the duration of the loan. This is because they have found that people tend to default on even the best auto loans rather than keep paying on a car that needs a costly repair they cannot afford. A warranty also implies that the seller feels the auto is in good condition, since they would soon be out of business if they made both guaranteed car loans and a warranty if the vehicle had known mechanical problems.

Most places that advertise car loans will indeed finance anyone, subject to certain income requirements. A few, however, make the terms so unreasonable that it is difficult to secure a guaranteed car loan that is the best auto loan to be found. You will want to shop around for a guaranteed car loan, just like any other loan, to make sure you obtain the best auto loan for your situation.
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Some dealers who will provide a guaranteed car loan will require the use of a payment device to receive their best auto loan. Payment devices attach to the car, usually under the dash, and flash or beep when a payment is due on your car loan. When you make your payment on your guaranteed car loan, you receive a code to enter to stop the device from flashing. If your payment is not made, the device can prevent the car from starting or moving. Most payment devices also have a GPS chip so that the provider of the car loan can easily locate the vehicle if repossession is needed. Not all lenders who offer a guaranteed car loan require payment devices, but many do. The reasoning is that, since providers of guaranteed car loans take substantially higher risks than traditional lenders, they need to minimize losses as best they can to keep offering the best auto loans to the greatest number of people.

If traditional financing is out of the question for you, a guaranteed car loan may be the best auto loan for your situation. Just do a little homework, compare terms on several guaranteed car loans, and select the best auto loan for the car you want.

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Our primary business activities include helping people with bad credit and bankruptcies find fast solutions for their credit problems. In plain english, we help people such as college students and and military personnel get approved on auto loans fast!