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visit our website Buy Here Pay Here visit our website Buy Here Pay Here Car Lots visit our website Buy Here Pay Here Chicago http://www.approvedtodrive.us http://approvedtodrive.us http://bhphcardealers.net http://carloan-forbadcredit.com Bad Credit Car Loans Online Bad Credit Car Loans Online Are a Great Option For Avoiding in House Dealer Financing Bad Credit Car Loans works for some while in house loans work for others. A clarification of the differences and similarities will be displayed for those seeking bad credit financing. If your credit is bad but not horrible it can still block you from getting a decent car loan. You need to improve it first to be able to get newer and more expensive cars at lower interest rates and lower payments. If you apply to in house financing, you will get a good loan at a good interest rate with little concern for your credit history. However, this will not help you get a better car in the future. The in house financing dealerships are limited on what they offer and base their judgement purely on income status. The in house financing loan dealer will not report your payment activities to the credit bureaus. This is horrible as your hard work of making the payments on time will not be recognized in your credit report as no one else will know it. The in house financing dealership does not use an external bank to finance. On the other hand, the Bad Credit Car Loans Dealerships use external banks to seal the deal. They make you buy a loan from the banks and get their entire money upfront from the bank and then give you the car and you make the payments to the bank and not to the dealership. The banks are the ones who record your payment activities and report it to the credit bureaus. So if you make payments on time, you will eventually fix your credit score and then can have the freedom to buy more luxurious cars at lower interest rate later on. Not all bad credit car loans dealerships are the same. Some can give you better deals than others. It depends on the kinds of cars they have and with which banks they deal with. Ech bank has its own criterias of who to finance and for how much. So if you do not like the offers at one dealership, chances are it is because they do not have much connections to a variety of financing banks. Many think that since their credit is not perfect, banks will not approve their credit score. This usually is not the case. It matters what kind of bad credit history you have, how long ago and how drastic it is. Of course, in house dealer financing is seen as the faster choice because every credit score is accepted, but the deals with the banks? bad credit auto financing are usually better for their shorter terms and better car qualities. It is always best to test drive the car and inspect it well as not every car has a warranty and warranties do not cover everything in a used car. Tote the Note Auto Financing!! What?s That?! As its name gets around, more and more people are learning how Tote the note financing can help. It is usually used as a last resort if all financing agencies or banks have declined to finance your car loan. The Special Financing Options that do not require third party banks that you need to learn about are: Tote the Note, Rent to Own, Buy Here Pay Here and In-House Financing. This is a comparison between the traditional dealership financing to the Tote the Note financing lots. A traditional Car lot dealership, will carry new or like new cars with warranty packages. However, a Tote the note dealership will often carry late model cars without warranties; so AS-IS Warranty. So inspect the car well and bring your own mechanic for inspection if you are allowed. A traditional dealership offers auto financing options to customers with good credit scores. They buy the loan from a bank with a fee, sell you the car and get all their money from the bank and you have to make your payments to the bank directly. So the car will cost more than a cash deal because the bank will want to make their profit too. With Tote the Note Auto Financing, the dealership skips the third party bank, accept all credit situations, and don't report to the credit bureaus. So if you are late on making the payments, the dealership itself will call you back to get their money but they will not harm your credit scores further because the credit bureau will not know. You have to keep in mind, that they are not loaning you money, they are loaning money on the vehicle's worth. This is because they know they can tow the car and resell it if you default on making the payments. Usually after several months, depending on how much you already paid and how much is the car worth. They often activate a GPS location system in your car until the car is paid off to find you in case you default. With a traditional dealership, you find a car you like and then sit with an employee to see which bank would finance you for the lowest interest and best loan terms. If your credit score is low, you are often left heart broken because after all your hard work of choosing a car you like, the terms are horrible or the interest rates offered are too high. With Tote the Note Auto Financing Dealerships, it is the other way around. You first have to sit down with a financial representative to discuss your financial situation. You get approved for an amount of loan and from this point, you can choose a car within your allowed loan budget. This saves time as you are not looking at cars that you can?t buy. The downfall of this is that all their cars might not be what you are looking for so you should look around first at the car lot in general to see if they have something that might interest you. You just can?t test drive them or check their parts until you get approved for the loan amount. You have to note that if you are using Tote the note financing to repair your credit, it will not work. Even if you pay on time every payment, the dealership never reports it to the credit bureaus: TransUnion, Equifax, and Experian. So on time or not, no one will know. Also worth to note is that with Tote the note lots, you can pay weekly, bi-weekly, or in monthly payment options. You can get pre-qualified online in as little as 5 minutes with little or no money down. Just Click! Your application will be filtered, based on your financial situation and estimated loan budget, to the best dealership in the network to get you driving the same day. 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