Auto Loan Delinquency Rates Rising

The latest quarterly report from Experian Automotive shows an increase in thirty- and sixty-day loan delinquencies

Consumers shopping the car market – especially those with bad credit – should be aware of the latest quarterly report from Experian Automotive as its findings reflect the current lending market.

The November 19, 2014 report states that, “30-day delinquencies grew 3.7 percent from the previous year. Similarly, 60- day delinquencies jumped 8.6 percent during the same time period.” It also found that “at a state level, states in the South accounted for four of the top five highest delinquency rates in both the 30- and 60-day category. On the flip side, the states with the lowest delinquency rates in both categories primarily resided in the Midwest and Northwest regions.”

Does It Matter Where Your Income Comes from for a Car Loan?

When you apply for a loan, you should have all of your employment and income paperwork handy. The reason it is so crucial is because during the application process, you will need to provide this information to a lender. If you are unable to do so, they won’t be able to approve you.

Does It Matter Where Your Income Comes from for a Car Loan?

So, yes – it does matter how your income is generated when you are applying for an auto loan. That is why accuracy is important.

Lenders will take your reported earnings and weigh it against your monthly expenses such as rent, utilities and other debts. This is what is known as the Debt-to-Income Ratio (DTI). So if you make $4,000 per month but your rent and expenses are $3,000, that alone may prevent you from getting financed for the amount that you need.

Will I Save Money If I Buy a Cheap Car?

If you’re looking to save money, buying a lower priced car probably sounds like the most obvious option. But, before you make that choice, consider this: if you’re simply looking at price and not at quality, you’re might be throwing your money away.

Will I Save Money If I Buy a Cheap Car?

Buying a car on the cheap is merely a band aid for a much larger problem, especially if you have bad credit. You’ll save up a couple thousand dollars, buy a late model car and within a few months have it break down on you. At which point you either:

•     Pay more money for repairs.
•     Start the cycle all over again.

This process doesn’t do you any good. The team at Auto Credit Express knows how hard it is to live on a tight budget because we’ve helped so many people that were in situations similar to yours. And that’s also how we know that there is another way.

Getting Approved with a Part Time Job

Under the right circumstances borrowers with less than perfect credit can get approved for a car loan even if their job is part time

Bad Credit Auto Loans & Part Time Wages

Here at Auto Credit Express we’ve spent the past two decades helping car buyers with bad credit locate those dealers who are more than willing to work with them in obtaining financing for a new or used car.

During that time, we’ve answered thousands of questions from applicants, many of them having to do with the income requirements of a subprime car loan. One income question we frequently get asked is, “Can I get approved for a car loan if I have a part time job and my credit is lousy?”

How Car Loan Approvals Work,

Obama Says Check Your FICO Scores

During the signing of an Executive Order the President noted the importance of checking your FICO scores on a regular basis

Our Experience

Here at Auto Credit Express we continue to educate borrowers with bad credit on the importance of checking their FICO scores well before beginning the application process. That’s because even though high-risk lenders look for reasons to approve borrowers, rather than turn them down, even their loan decisions are at least partially based on credit scores.

Safeguarding Your Personal Data: POODLE

At Auto Credit Express we take protecting your information from online vulnerabilities like Heartbleed very seriously. Now, Google has recently announced another yet vulnerability people are calling POODLE. Here is what we are doing to protect your data, and some information about how you can protect yourself.

The Latest Costco Auto Program and Bad Credit Buyers

The latest auto program from Costco and General Motors looks like a good deal but most car buyers with bad credit probably will not be able to take advantage of it

Buying a Car at Costco?

The Latest Costco Auto Program and Bad Credit Buyers
The email I received in my inbox the other day from retail giant Costco sounded like a good deal, even for car buyers with bad credit. The message had this to say:
Beginning Oct. 1 through Jan. 2, 2015, the GM Holiday Sales Event gives Costco members GM Supplier Pricing combined with all publicly-available rebates on 17 eligible vehicles from Chevrolet, Cadillac, Buick and GMC making this a treat you can’t resist! Plus, complete a member satisfaction survey after purchase to receive:
$600 Costco Cash Card for Executive Members
$400 Costco Cash Card for Gold Star and Business Members

Reliable Used Cars for People with Bad Credit

We slice and dice the most current information from Consumer Reports for the most affordable used cars for credit challenged buyers

Making the right choice

Reliable Used Cars for People with Bad Credit
At Auto Credit Express we believe it’s important that people with bad credit choose a reliable vehicle to finance. With that in mind we’ve taken the latest choices from Consumer Reports to come up with a list of used cars that not only exhibit solid reliability, but are affordable as well.
And because the average new car “loses up to 47 percent of its value in the first three years” according to Consumer Reports, the most affordable cars for people with bad credit are likely to be used cars.

EPA Tool Helps Poor Credit Used Car Buyers

New tool from the Environmental Protection Agency buyers with problem credit find the most efficient used cars to help them save on fuel costs during an auto loan
EPA Tool Helps Poor Credit Used Car Buyers

Our experience

The Environmental Protection Agency (EPA) recently developed an online tool that could help car shoppers with deficient credit profiles estimate in advance what kind of gas mileage they should expect in order to control some of  the expenses over and above their car loan payment.
Here at Auto Credit Express we think this a great idea based on more than twenty years experience helping car buyers with bad credit that have been searching for online auto loans actually find those dealers that can offer them their best opportunities for auto loan approvals.

What Happens When Your Car Gets Repossessed

The Federal Trade Commission furnishes the answers to some questions that could certainly help car buyers with questionable credit that currently have an auto loan

Our experience

Having a vehicle repossessed is never a good thing. In fact, having one appear on a credit is one of the worst things that can happen to any borrower. But it is especially bad if the auto loan in question belongs to a consumer with problem credit.
Here at Auto Credit Express we know why this is true because for more than twenty years we’ve been helping car buyers with bad credit searching for online car loans find those car dealers that can offer them their best opportunities for car loan approvals.

Understanding Car Loan Calculators

Consumers with questionable credit can use the auto loan calculators for everything from computing monthly car payments to determining if they qualify for higher risk car loans

What we know

Here at Auto Credit Express we’ve spent the past two decades helping car shoppers with bad credit that are looking for online car loans locate those dealers where they more often than not will find their best chances for car loan approvals.
So from the get-go we wanted our website be more than just a place where consumers with problem credit could fill out a car loan application.

How to Buy a New Car with No Credit

How to Buy a New Car with No Credit

 Sometimes consumers with problem credit have the opportunity to finance a new car with a higher risk car loan

Our experience

Lenders that offer auto loans through franchised new car dealers to car buyers with bad credit sometimes offer the option of financing a new car.

At Auto Credit Express we know this is true because for the past two decades we’ve been helping car buyers with poor credit looking for online auto loans find those dealers that can offer them their best chances for auto loan approvals.

How to Prevent Auto Theft with Questionable Credit

How to Prevent Auto Theft with Questionable Credit

Vehicle owners with problem credit with an auto loan should be aware of suggested tips from the National Insurance Crime Bureau to cut down on the chances of auto theft

Our experience

Here at Auto Credit Express, we’re not just concerned with helping bad credit car buyers looking for online car loans find dealers for their best opportunities for approved car loans. We also want to make sure these car owners keep their vehicles out of the hands (and away from the blowtorches) of thieves and chop shops while keeping their auto insurance premiums under control.
So we’ve decided to pass on some suggestions on preventing this from happening that we came across a few years ago from the National Insurance

Tips on Buying a Used Car

Tips on Buying a Used Car Warranty with Bad Credit

We take a look at adding a used car service contract to a car loan for buyers with questionable credit

What we know

When it comes to used car service contracts for consumers with bad credit, adding one to an auto loan really depends upon the buyer’s personal situation.

At least that’s our opinion here at Auto Credit Express where, for the past two decades, we’ve been helping car buyers with poor credit looking for online auto loans locate those dealers that can offer them their best opportunities for car credit approvals.

New Lexus Models for 2013

The definitive 2013 research guide to the new cars by Lexus. 

ES 350

Until recently, Lexus had been resting comfortably on brand loyalty with a dated product line. They've now realized the necessity to adapt and change, which is why the new ES 350 shares nothing with previous generations.

Improve the Chances for a Car Finance Bad Credit Instant Decision

Consumers with problem credit can improve their chances for auto loan approvals and raise their FICO scores by paying attention to the tips from the American Financial Services Association

Know the score

Even with bad credit, according to the experts managing your money is the first step to credit repair and a good way to raise your credit scores before applying for a car loan.
Here at Auto Credit Express we know this is true because for over twenty years we’ve been helping car buyers with questionable credit searching for online auto loans find a dealer that can offer them their best opportunities for approved auto loans. Our website even features a resource section so consumers can research topics like today’s – how to begin your credit repair efforts before applying for a car loan.

How to Shop for Used Car with Bad Credit

Why vehicle history reports should be the first but not the last step in choosing a used vehicle especially buyers with poor credit that require high risk car loans

Get a Bad Credit Car Loan with a New Job

Consumers with questionable credit and a new job should be aware of how their new employment circumstances will affect their chances for an auto loan

What we know

At least that’s what we think here at Auto Credit Express where we’ve spent the past two decades helping car buyers with problem credit looking for online auto loans find those new car dealers that can offer them their best opportunities for loan approvals.

Credit Repair Tips for Poor Credit Car Buyers

 

The AFSAEF offers consumers with poor credit a number of tips on how to raise their FICO scores while getting their finances in order

 

Knowing the score

According to the experts, managing your money is the first step towards repairing your credit and a good way to improve your credit scores before applying for high-risk car loans.  At Auto Credit Express we’ve also the results of this because for the last two decades we’ve been helping car buyers with less than perfect credit find dealers for their best chances at approved auto loans. We even designed out website with a resource section so applicants can study topics such as buy here pay here (BHPH) dealers as well as today’s topic – the best place to begin your credit repair efforts even before applying for a bad credit auto loan.

Income Rules for Poor Credit Car Loans

Those high risk lenders that offer auto loans examine both the income and expenses of applicants with credit issues

Income and expenses

Car buyers that have experienced credit problems should have an understanding of how subprime auto lenders determine if the income of applicants will qualify them for an auto loan.

At Auto Credit Express we know how they do it because we’ve spent the last two decades helping auto shoppers with poor credit scores find dealers for their best opportunities at approved auto loans.