The agreement between Chrysler and Santander Bank could be the news that bad credit car loan buyers have been hoping for
Good news for everyone
If you have bad credit you should know that bad credit auto loan web sites such as ours at www.autocreditexpress.com have helped thousands of applicants just like you reestablish their auto credit. You can begin the process simply by filling out our online car loans with bad credit loan application. By avoiding your neighborhood tote the note dealer, you can begin a new chapter in your life by qualifying for a second chance auto loan at one of our affiliate dealers. By doing this and paying the rest of your obligations on time, you will not only have auto credit, you will actually raise your credit scores at the same time.
We would like to think that one reason consumers visit our site is because we’re truthful about what it takes to accomplish all this. We don’t shy away from letting you know that the process can be an expensive one because of the high interest rates associated with bad credit auto loans. Quite frankly, a vehicle that’s too expensive can stretch the budgets of many credit-challenged consumers and we’ve seen this practice result in repossession. Once this happens, the only remaining choice for most auto loans for bad credit buyers is a Tote the Note, We Finance Everyone car dealer. It also means that rebuilding your car credit has to be put on hold for at least a year, since lenders who originate bad credit car loans will only consider applicants with a repossession that’s more than a year old.
Chrysler partners with Santander Bank
Earlier this week, car buyers with bad credit got some good news when it was learned that Chrysler Group LLC is partnering with a unit of Spain’s Banco Santander to offer more affordable financing for their customers who don’t qualify for prime loans.
According to a recent article from the Associated Press, Chrysler is not only expanding its presence in the bad credit auto loan sector, but the loans that it will offer through Santander will be “about 30 percent cheaper than from other lenders.”
In the article, Chrysler spokesman Ralph Kisiel stated that about 20 percent of Chrysler’s current customers have bad credit, meaning that their FICO scores fall below 650. Teaming up with Santander, according to Kisiel, should result in an additional 2,000 sales per month for the automaker.
What this means for bad credit car loan shoppers
This latest news is definitely good news for shoppers hoping to finance a vehicle with auto loans for bad credit. It also sends a signal that the economic recovery, although slow, is beginning to gather some momentum, even though the return to pre-recession levels will take some time.
At Auto Credit Express, our advice to consumers seeking bad credit car loans continues to be:
• Know your credit score and what’s contained in your credit report
• Plan on coming into the loan with at least 10 percent down in cash or trade equity
• Keep the loan term as short as possible
• Choose a reasonable vehicle and be sure your car payment is no more tan 10% to 15% of your gross monthly income (the lower the better).
Start the process now
At Auto Credit Express we have helped literally thousands of people with bad, blemished, bruised and tarnished credit buy cars and reestablish their credit at the same time. Our nationwide network of affiliate dealers specializes in bad credit car loans. Our web site, www.autocreditexpress.com, will help you determine how much car you can afford and unlike other sites, our toll free number is listed on every page, in case you have any additional questions.
So why not begin the process right now by filling out our secure online bad credit car loan application to see what we can do for you.
