subject: Guaranteed Car Financing Is Not A Myth!!! [print this page] Guaranteed Car Financing Is Not A Myth!!!
However there exist quite a few myths regarding these guaranteed car financing that prevail among people. And more often than not the auto purchasers are influenced by these myths instead of getting the facts straight for themselves.
Listed below are few myths and actual facts related to Guaranteed Car Financing:
1. Guaranteed Car Financing don't exist in reality:
This is the most prevailing myth and also the most harmful of them. Many people like to believe it is just a marketing gimmick. However nothing can be further from the truth. There are umpteen reputed online subprime auto loan lender which provide these services. These loans are fully secured loans where in the vehicle you are purchasing will be used as security by the auto company and in case in the unfortunate circumstance of you not being able to repay your loan installments the possession of the vehicle will be taken by the auto company.
2.Guaranteed Car Financing can never be a cheap financing option
Again it is another myth that has no semblance with reality. Just like normal car loans finding a guaranteed car loan approval rate will depend on risk factor associated with the borrower, also the terms and options the borrower chooses for auto financing. A short term loan may involve higher monthly installments with lesser interest option and a longer term loan with lower monthly installment may have the interest option higher. And just like every other thing doing your research diligently in this case over the internet you will find a car financing option that is cheap as well as convenient.
3.Guaranteed car financing option can harm your credit history
Out of all the prevailing myths this is probably the most ridiculous one. In fact these car financing option can actually go a long way in improving your credit history if already have a few blots on them. Yes, in case you are one of those individuals who have a bad credit history or no credit history, these financing options is a good way to improve your credit score. Of courses this is possible only when you are regular with your repayment installments. In fact, there are also options such as poor credit car loans being provided but many of these online websites.
There are also special auto loans with benefits available on these cars financing websites. An example of such a loan is auto loans for military personal. These loans are normally cheaper and also provide borrowers wit h really flexible payment options.
In the end I would like to conclude by saying that do check various options of auto financing over the internet and do not believe in any myths regarding them unless you have verified them yourself.
