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A cosigner is someone who agrees to take on equal responsibility for the loan repayment along with the primary borrower; having a cosigner can increase your chances of getting approved for the auto loan if you’re not meeting the lender’s requirements. They usually have a good credit history and a stable income, and adding their […]

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The Annual Percentage Rate (APR) reflects the costs connected to your loan and the annual payment required for interest and other fees when buying a car, and it is mainly based on your credit score. Your credit score informs lenders about your capability to repay your debt; typically, individuals with high credit scores receive a […]

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You absolutely need a car to get to work, run errands, and manage daily life. But if your credit score isn’t ideal, securing a car loan in this situation can feel like an uphill battle. Lenders might be hesitant to approve your application, or offer terms with high interest rates and short repayment periods. This […]

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Your credit score significantly affects your ability to finance major purchases such as buying a car. The credit scoring system is used to assess an applicant’s risk and predict their ability to repay their debts. Generally, the more credit you have, such as loans or credit card debt, the lower your credit score will be, […]

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Credit scores represent creditworthiness, and your lender uses them to make decisions about auto loans. It tells them how likely you’ll default on your debt obligations or how worthy you are to receive new credit. The most commonly used credit scoring models are FICO and VantageScore, and each has scores ranging from 300 to 850; […]

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A “buy here, pay here” dealership is a type of used car dealer where cars are financed directly on the lot, as opposed to the usual process of applying for a loan through traditional lenders such as banks or credit unions. BHPH dealerships offer in-house credit options, which means that people with less than perfect […]

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Financing a car can be stressful, especially for those with less-than-perfect credit. Buy-here, pay-here (BHPH) dealerships offer a tempting solution with on-site financing for auto purchases. These dealerships act as a one-stop shop, allowing you to select a car and secure financing without the hassle of securing a loan from a separate bank or credit […]

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Traditional car dealerships generally require a minimum credit score for vehicle financing, and if your credit score doesn’t meet their criteria, they won’t entertain you. Once you have a credit score that meets their standards, you need to make a down payment of $1000-$1500. This can limit the options for individuals with poor credit, often […]

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As the prices of new vehicles are over $47,000 and used cars around $20,0000, buying a car requires a significant financial investment; to make the process affordable, many drivers choose an auto loan to finance their vehicle, where you can pay for the car in monthly installments rather than a single large payment. However, it […]

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When you’re buying a used car, one of the most important things to do is take it for a test drive. But to make sure you make the most of your test drive, there are some things you should do before, during, and after driving. Being prepared can save both you and the seller from […]

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