Bad Credit

It can be distressing to be turned down for a car loan by a dealership, and it can feel as if there is no hope for getting the car of your dreams when it occurs.

When it does happen, many people settle for driving a vehicle that is less than ideal, while knowing they are in a better financial position now and can more than afford the vehicle they actually want.

Auto finance can be daunting, but fortunately there are options for people with bad credit, and it doesn’t have to hold you back from receiving financing and owning your own car at an affordable price. [...]

Bad Credit and Low Down Payment?

There a few reasons why down payment is important, all to the customer's benefit, regardless of whether the customer has bad credit or not.

1. Uncle Sam

This dealership pays your taxes for you up-front. This means that a chunk of your down payment has to pay taxes before hitting the balance. When you take out a loan you pay interest. The bigger your down payment is upfront the more money you will save on interest. [...]

Car Repossession in Colorado

Automobile repossession occurs when a lender takes back possession of a vehicle from the borrower after one or more missed payments. The lender may pick it up with the assistance of a towing company or through what is known as “voluntary surrender” of the vehicle.

Automobile repossession is not a pleasurable experience for the buyer or seller of the vehicle, but it is common among many car owners who continually or consecutively miss loan payments. For buy here pay here dealerships, the car goes back into the possession of the dealership once a payment is missed, and the borrower has the opportunity to either purchase the vehicle or allow the lender to sell it and have the money go towards paying off what is owed by the initial borrower of the loan. [...]