How I Got A Poor Credit Auto Loan, And How You Can Too
You can get poor credit auto loans, even after foreclosure and bankruptcy, they can be expensive, and I will explain this and show you how you can get a better deal if you clean bad credit.
After being laid off 2 years ago I went through foreclosure as it took too long for me to find another job. All of my creditors were hounding me constantly, and I even lost my Jeep to repossession. I had checked into bankruptcy to end the constant nagging but I could not afford it. After finally getting another job I was able to pay for the bankruptcy. Not long after that I received a poor credit auto loan. Now I will tell you how I did it and how you too can accomplish this.
Payment history; since our payment history is the most important to our credit I applied and received a credit card after the bankruptcy. I made small purchases and made my payments on time rebuilding my current history. It is imperative you make your payments on time if you want to get a poor credit auto loan.
Pay down balances; paying down your account balances is the 2nd most important in improving your credit. I only had the credit card so I made on time payments and kept my balance very low.
Financial responsibility; I proved I was able to handle money wisely by building a saving account to use for my down payment.
Referrals; I requested a referral from my landlord showing responsible payments even through the tough times. Referrals from Phone Companies and utilities work also in getting your poor credit auto loan.
In relative few months I entered a well established car lot that had a poor credit auto loan officer who works with folks like us. After explaining my situation I drove off the lot with my car and my poor credit auto loan.
Something I wish I knew that could have saved me some explaining is I could have put that explanation in my credit report in 100 words or less.
Make payments on time, pay accounts down, be responsible financially, get referrals and be prepared to explain credit problems and you can get your poor credit auto loan.
After losing his job, his car, and his home, Alex Nebwalz didn’t give up. He fought hard to regain his life and his credit. Now, after 2 1/2 years he has repositioned himself and writes about it at his blogcleaningupcredit.netwhere he writes about how you can improve credit report, get mortgage loans for bad credit, the poor credit auto loan and how to clear bad credit.
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