Qualify for a Bad Credit Auto Loan

Thursday, August 30, 2012
With most lenders, having bad credit or a past bankruptcy is not a
problem. Thus, you can obtain an automobile loan with a low credit score.
There are certain advantages to having good credit. These individuals
generally pay a few percentage points less, which equals a lesser monthly
payment. However, qualifying for a car with bad credit is easy. Here
are a few tips to help you get approved.

Requirements for Getting an Auto Loan with Bad Credit

To get approved for a bad credit auto loan, applicants must meet
certain requirements. For starters, car loans are not offered to minors.
Therefore, applicants under the age of 18 must have a parent or other adult
co-sign for the loan. Moreover, applicants must be employed and have a
driver's license.

Auto loans are the easiest types of loans to obtain because they are
secured. With this said, auto loans are perfect for those hoping to build
a solid credit history, and individuals hoping to raise their credit

Skip Dealership Financing

Securing financing through the car dealership seems simple and
convenient. Nonetheless, keep in mind that dealerships will make a small profit
off of your financing package. To do so, they must increase the
interest rate a few points.

If the lender approved you for a 10 percent interest rate, the
dealership may charge 11 or 12 percent. To avoid paying the extra fees, look
for private financing. Private financing could come from a bank, credit
union, etc. If possible, get pre-approved before visiting dealerships.

Check Credit Report for Errors

Having bad credit does not always mean getting hit with the highest
interest rate. Prior to applying for an auto loan, attempt to make some
credit improvements and correct errors. For a few months leading up to
financing a new or used car, pay all bills on time. This could make the
difference in getting a loan with 12 percent interest and 9 percent

Explore Different Types of Lenders

Common lenders used for an auto loan include banks and credit unions.
However, there are lenders that offer bad credit auto loans at
reasonable rates. Sub prime lenders are becoming increasingly popular. They
offer online applications and quick pre-approvals. Moreover, various
lenders will provide a no-obligation auto loan quote. This way, you can
review their offer before making a decision.

Top 10 Common Car Problems

Friday, August 24, 2012
It is hard to make this kind of list since the things that go wrong on the car are endless. This is not written with pessimism, but as many drivers have experienced even on new cars a thing or two can go wrong.Not to mention the older ones, an old car is a like an aging man, the older he get's the more grumpy he becomes.

Here's a list with the top 10 car problems from our point of view. Not only are they problems of mechanical nature, they are usually problems that drive you nuts:

1. Flat tire most common car problem but the most easy to fix. Often happens at the least convenient time. Having the right equipment and knowledge to help yourself is crucial.

2. Dead battery: how many of us made that face of despair when we put the key into the ignition and... Nothing or a short click. Especially during winter months. An easy problem to fix, but best preventing it on time by changing the old battery.

3. Ignition problems: the car will crank but won't start. The problem can be solved on your own in a couple of minutes or it can take days and a tone of money. The list of probable causes is pretty long.

4. Various leaks: oil leaks, coolant leaks, break fluid leaks etc. In most cases (if the leak is not severe) they don't cause big problems while driving. The moment you see them, get it fixed, it only get's worse over time.

5. Electric and electronics problems: these kind of problems manifest themselves as if the car is possessed by an evil ghost. Various glitches, signal lamps warning about nothing, endless diagnostics and car mechanics going out of their mind are just some of the symptoms.

6. Sensor problems: a car problem that has the most fancy name.These are the eyes of the ecu unit. Since exposed to dirt, moisture, cold, heat etc. Cause the most of the electronics problems.

7. Bad serpentine belt: it makes that squeaky noise that gives you a bad chill down the spine. Nothing serious, if the car is properly maintained you won't hear of it. Otherwise, it can make a lot of problems.

8. Car bulb failure (headlights, taillights): when your vision from the car during night driving decreases it's either time to check your eyesight or the signalization. The headlight bulbs are easy to spot when they burn out, the tail lights can go on not working for months (unless you have the proper dash warning). Make a check of the signalization from time to time.

9. Cracked windscreen: you get in a second, but you usually look at it for months. When the crack happens, fix it right away or else your putting yourself and the your passengers at risk.

10. Body scratches and minor dents: looks like a little acne on an otherwise beautiful face. You look at it and say: " wow what a beautiful face, but look at the acne....". Can be solved with a few tricks and perhaps minor body repair.