Car loans 'helping those with poor credit'Used car loans are helping drivers with low incomes and bad credit ratings get the vehicle they need, an article in the American Chronicle has suggested.
Used car loans are helping drivers with low incomes and bad credit ratings get the vehicle they need, an article in the American Chronicle has suggested.
The website reports that buying a new car can be a big outlay and that many people with poor credit ratings can struggle to overcome this using high street lenders.
However, it adds that used car finance offers the chance for many drivers to shop for the right deal.
"Research and negotiation are the skills you should master when it comes to [acquiring a] car loan," the site advises.
It also states that trying to keep a good credit score is important as this can help you with future credit issues such as secured loans or debt consolidation and that for those without a strong rating, bad credit loans are available.
Last week, a report from independent consultancy firm Market and Business Development suggested that 2008 could see increased competition in the used car market meaning better deals for consumers.
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Posted by Edwin Miles on