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Poor credit drivers 'should seek car loans'

Drivers who may have suffered from credit problems in the past should not be deterred from seeking new car finance, according to one expert.

Drivers who may have suffered from credit problems in the past should not be deterred from seeking new car finance, according to one expert.

In an article for the American Chronicle, Andrina James writes that used car loans for those with bad credit scores can be a great option and adds that financial difficulties of the past should not hinder the purchase of a new or used vehicle.

"Purchasing a used car is a better option for those who are suffering from poor credit … opt for a secured used car loan to get both the benefits of low rate and a large loan amount," she said.

She adds that there are a number of lending facilities available to consumers and being pre-approved for a new or used car loan can usually be easier than some people may think

Earlier this week, a spokesman for EurotaxGlass said that the value of used cars could drop by around £400 in 2008 due to the strain of economic pressure on some dealers keen to make a sale.


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