Bad Credit Auto Loan Application - Why You Should Avoid Dealer Financing

So, are you ready to fill out bad credit auto loan application? Hold on! Choosing to fill out a loan application for financing at the dealer can be a major MISTAKE. You might want to strongly consider getting financing on your OWN and not through the dealer. Here's why...

Limited Terms

When you finance through a single dealer you are eliminating any competion for your loan. The more lenders competing for your loan the better your terms - interest rate - that is. Competition for your loan is the greatest equalizer.

Plus, when you finance at the dealer your more likely to get "scammed". The worst dealers will lie about your credit score, tell you that the financing " never was approved "( after you've already driven off the lot!), and many other tricks to get your cash. Read more about this : bad credit auto scams

Companies like www.MyAutoLoan.com can pre-approve you so you know exactly how much you can afford per month as well as the total price of the vehicle.

Dealers can easily manipulate the monthly payments when you finance with them...to make it seem like a "good deal". It never is a good deal ...they want to stretch the loan term out as long as possible to ensure maximum total interest paid by YOU.

So get pre-approved, then FIT the car to your budget not the other way around. And of course if your a bad credit loan application candidate, avoid dealer Financing like the plauge.