I have received my first question!
Q: Can you help me get a car if my credit score is 400?
A: This is a pretty low credit score which means most finance companies that deal with New Car Dealers will not be giving you a loan. However, Buy Here Pay Here dealers would be a good option for you. These dealers look at your job, residence and previous car history to determine if you are a good candidate. So if your credit score is low, but you haven't had more than one car repossessed in the past 5 years, you can still be financed for a car.
Friday, June 19, 2009
Wednesday, June 17, 2009
Do You Have Questions?
If you have questions about buying a car or financing please feel free to email me at dbmoney306@gmail.com. I will post questions and their answers on the blog. All submitters will be kept anonymous.
The Website is Coming!
Well it's a slow process but the website is coming along nicely. Step One of the 8 step process is complete. Steps two and three are nearly complete. Hopefully we will be fully operational by next week. Please check it out: dbbadcreditcarloans.com.
Tuesday, June 2, 2009
The New Website is Posted but Incomplete
Well, I decided to post what I have so far of the new site. Once fully operational (hopefully within the week) there will be a complete 8 Step Process for buying a car with bad credit.
There has never been a program like this one before!
Click Here now to get a view of the new site.
There has never been a program like this one before!
Click Here now to get a view of the new site.
Friday, May 29, 2009
Check For New Updates to the Website this weekend!
dbbadcreditcarloans.com is undergoing some construction this weekend!
look for advanced resources, updated content, and more pages!
Plus don't forget to visit our brand new forum!
look for advanced resources, updated content, and more pages!
Plus don't forget to visit our brand new forum!
Needs Vs. Wants- Buy the Best Car For You
How do you decide what vehicle to buy when you are shopping at a Buy Here Pay Here Dealer? There are four major questions you need to ask yourself when making this decision. Once you have answered these three questions, the decision of which car to select will be clear and easy to make.
Question One:
What type of vehicle do I need?
If you are single and have no children, maybe a compact car would suit your needs fine. If you work in construction you might need a pick up truck. Determine what size vehicle you MUST have. Try to think about absolute necessity. Disregard any impulses or desires. Just because you really WANT a stylish German import doesn’t mean it is the type of vehicle you NEED. Be vague when answering this question. For example, my personal answer to this question would be: I need a mid size to full size car with four doors and decent trunk space.
Question Two
How far do I drive?
This is important because if you drive 20,000 miles per year you will need the lowest mileage car you can find. If you only drive 2 miles to work and don’t travel, mileage may not be an issue.
Question Three
How much can I afford?
This is a two part question. First, how much money do you have available for a down payment? Second, how much can you afford to pay monthly? Down payment usually determines what vehicles a Buy Here Pay Here dealer will allow you to purchase. One car may only need $1000.00 down but another may need $2500.00. Payment range is not as important because a Buy Here Pay Here usually will not strap its customers with exorbitant payments.
Now that you have examined these three questions you are ready to select a vehicle. Your Dealer will most likely show you a few cars that will work based on your down payment amount. My suggestion is to apply the three questions to the vehicles, decide which one BEST suits your needs, and your decision is made!
Visit my Site to get more info!
Question One:
What type of vehicle do I need?
If you are single and have no children, maybe a compact car would suit your needs fine. If you work in construction you might need a pick up truck. Determine what size vehicle you MUST have. Try to think about absolute necessity. Disregard any impulses or desires. Just because you really WANT a stylish German import doesn’t mean it is the type of vehicle you NEED. Be vague when answering this question. For example, my personal answer to this question would be: I need a mid size to full size car with four doors and decent trunk space.
Question Two
How far do I drive?
This is important because if you drive 20,000 miles per year you will need the lowest mileage car you can find. If you only drive 2 miles to work and don’t travel, mileage may not be an issue.
Question Three
How much can I afford?
This is a two part question. First, how much money do you have available for a down payment? Second, how much can you afford to pay monthly? Down payment usually determines what vehicles a Buy Here Pay Here dealer will allow you to purchase. One car may only need $1000.00 down but another may need $2500.00. Payment range is not as important because a Buy Here Pay Here usually will not strap its customers with exorbitant payments.
Now that you have examined these three questions you are ready to select a vehicle. Your Dealer will most likely show you a few cars that will work based on your down payment amount. My suggestion is to apply the three questions to the vehicles, decide which one BEST suits your needs, and your decision is made!
Visit my Site to get more info!
Wednesday, May 27, 2009
Small Buy Here Pay Here Dealers
If you are interested in buying a car from a buy here pay here type of dealer there are a few things you must consider before making a purchase. I don't suggest buying a car from a buy here pay here type dealer simply because they have a car that you really want. Typically a buy here pay here dealer tries to stock the most desirable cars based on his customer base and geographical location. This does not mean that he is offering the best, most mechanically sound vehicles for the money.
Let's visit the reasons that you might choose to patronize a small used car dealer. Either you cannot get approved for conventional financing from a larger dealer, or you do not want to spend $10-20,000 or more for a newer vehicle. These small buy here pay here dealers usually specialize in less expensive cars ($2-5000).
These small car lots usually operate the same. They take inexpensive vehicles, mark them up slightly more than average (due to the risk they are taking by financing them to the public) and offer them for sale. These vehicles usually require moderate downpayments $500-1500 and the dealer sets you up for biweekly or monthly payments that are relatively affordable. The dealer wants to keep loan terms short to get the car paid for in a relatively short time because they typically do not have any warranty, and the dealer wants to get his money before the car starts to have any mechanical problems.
It is important for you as a consumer to understand that if you are purchasing a car from this type of dealer, it is probably because you do not have a choice. You need transportation for you and your family, you are on a limited budget so this seems like the best way to get the most car with the least amount of downpayment. You need to remember that if this is anything like your situation it is vital that you buy the right car for the right reasons.
Let me give you a hypothetical situation. Bill is married with 2 kids. He and his wife both work, but even their combined incomes are barely enough to get by. They could afford a small car payment, but cannot get approved for conventional financing due to some unpaid medical bills. They have an old car, but it recently broke down and needs $500 in repairs. They have $1000 left from their tax refund. Here are a few scenarios:
1. Bill fixes his car for $500 and keeps $500 for future repairs. He is still driving but it is inevitable that he will be sinking the rest of that money into the car in the near future.
2. Bill goes to the Buy Here Pay Here dealer. The dealer shows him a 94 Cadillac, a 99 Ford Taurus and a 2001 Saturn that he can get for $1000 down and reasonable monthly payments, Bill has always wanted a Cadillac so he happily rides home in his new Deville only to realize he can't afford the payments and the gas in that V8 and when a few minor repairs are needed he is forced to stop driving it because he can't afford to fix it.
3. Bill goes to the Buy here Pay Here dealer and chooses the Saturn. This car is a little smaller than he would prefer for his family, but it is a four door and the 4 cylinder engine is really good on gas. This car also had the least amount of miles of the cars he had to choose from. It was the only car that had less than 100,000 miles. The Saturn performs beautifully for Bill and is paid off in just one year.
These scenarios illustrate how making prudent decisions and using buy here pay here dealers for the right reasons can be beneficial, while using them for the wrong reason can be catastrophic. Use care if you choose to go this route and always research a vehicle before you purchase. I can help you obtain financing for your next vehicle purchase or I can advise you on a purchase you are considering. Visit my website at http://www.dbbadcreditcarloans.com for more information or to initiate your FREE Consult today!
Let's visit the reasons that you might choose to patronize a small used car dealer. Either you cannot get approved for conventional financing from a larger dealer, or you do not want to spend $10-20,000 or more for a newer vehicle. These small buy here pay here dealers usually specialize in less expensive cars ($2-5000).
These small car lots usually operate the same. They take inexpensive vehicles, mark them up slightly more than average (due to the risk they are taking by financing them to the public) and offer them for sale. These vehicles usually require moderate downpayments $500-1500 and the dealer sets you up for biweekly or monthly payments that are relatively affordable. The dealer wants to keep loan terms short to get the car paid for in a relatively short time because they typically do not have any warranty, and the dealer wants to get his money before the car starts to have any mechanical problems.
It is important for you as a consumer to understand that if you are purchasing a car from this type of dealer, it is probably because you do not have a choice. You need transportation for you and your family, you are on a limited budget so this seems like the best way to get the most car with the least amount of downpayment. You need to remember that if this is anything like your situation it is vital that you buy the right car for the right reasons.
Let me give you a hypothetical situation. Bill is married with 2 kids. He and his wife both work, but even their combined incomes are barely enough to get by. They could afford a small car payment, but cannot get approved for conventional financing due to some unpaid medical bills. They have an old car, but it recently broke down and needs $500 in repairs. They have $1000 left from their tax refund. Here are a few scenarios:
1. Bill fixes his car for $500 and keeps $500 for future repairs. He is still driving but it is inevitable that he will be sinking the rest of that money into the car in the near future.
2. Bill goes to the Buy Here Pay Here dealer. The dealer shows him a 94 Cadillac, a 99 Ford Taurus and a 2001 Saturn that he can get for $1000 down and reasonable monthly payments, Bill has always wanted a Cadillac so he happily rides home in his new Deville only to realize he can't afford the payments and the gas in that V8 and when a few minor repairs are needed he is forced to stop driving it because he can't afford to fix it.
3. Bill goes to the Buy here Pay Here dealer and chooses the Saturn. This car is a little smaller than he would prefer for his family, but it is a four door and the 4 cylinder engine is really good on gas. This car also had the least amount of miles of the cars he had to choose from. It was the only car that had less than 100,000 miles. The Saturn performs beautifully for Bill and is paid off in just one year.
These scenarios illustrate how making prudent decisions and using buy here pay here dealers for the right reasons can be beneficial, while using them for the wrong reason can be catastrophic. Use care if you choose to go this route and always research a vehicle before you purchase. I can help you obtain financing for your next vehicle purchase or I can advise you on a purchase you are considering. Visit my website at http://www.dbbadcreditcarloans.com for more information or to initiate your FREE Consult today!
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