Car credit is an all encompassing term for the hows and whys of financing the purchase of a new or used car. Its ambit covers loans, payments options, car refinance and leasing. It's a complex subject so let's look at a few fundamentals you need to understand before venturing out into these waters.
Do you have the option of going in for a secured loan? Secured loans are offered against collateral such as fixed assets or property and the interest rate is lower than for unsecured loans. However, since unsecured car loans are easy to come by, you may prefer to keep the secured loan option for some other purpose.
Before applying for car credit get a copy of your latest credit report and fix any issues which may have a negative impact on a potential lender. Car credit covers both buying and leasing. Leasing is cheaper, but what you get is the right to use a car for the lease period after which you give it back to the leasing company. You have not bought a car and it is not your property.
Be careful in filling out your application for car credit. The application will be checked in detail and an honest error may appear, to the finance company, as an attempt to mislead them.
Two Minute Application
Quick, easy and secure credit application. This is the first step in rebuilding your credit and getting the vehicle you want.
Choose Your Vehicle
Loan Doctor has access to thousands of cars, trucks, vans and SUVs across the country. We finance all makes and models!
Congratulations on your new car! Loan Doctor will continue to work on lowering your interest rate even after you drive away.
Have you been wistfully eyeing a particular car knowing you just do not have the funds at the moment to make it happen? At Loan Doctor, we can offer auto financing to help you get the car you really desire. A vehicle can often be a person's second home so it makes sense to get the one that you will feel comfortable living in long term, whether it's because of the style, the trusted make or model, or simply a preferred gas mileage that fits your busy lifestyle.
Financing can help you nudge your budget up just a bit, paying off your car over an established amount of time instead of all upfront. Then, you can purchase the car that you will be proud of and more likely to keep for the long haul.