Friday, June 29, 2007

How to get a Bad Credit Car Loan

When looking for a bad credit car loan, compare quotes from different providers, on the Internet. A bad credit car loan is usually offered to consumers who have had credit problems in the past such as late mortgage payments or CCJs (County Court Judgements).

A bad credit car loan realises that we are all not perfect but may still require credit options when buying new cars. A bad credit loan can be obtained in several ways. Loan providers and motor dealers will search the market for you quoting the lowest loan rates they have available. If you decide to use a secured loan, then you can use a mortgage or loan broker.Some motor dealers are set up predominantly to handle bad credit car loan enquires. In the UK this includes Yes Car Credit, Welcome Car Finance and Car Credit UK.If you are offered a bad credit car loan please do check with our other guides which will help you with any jargon. We also have facilities to refer you to bad credit car loan providers if necessary.Remember a rate which is made available to one is not necessarily available to all and if you are looking at remortgage or secured loan options you may find the bad credit car loan is not dependant on rate but on redemption or fees which maybe required. It is also fair to say that bad credit car loans are normally secured loans, which means they are only available to homeowners.

The bad credit car loan can also be taken out with loan protection insurance to provide you with important financial protection against unemployment or the in ability to pay back your loan. The type and amount of coverage should suit your individual needs.

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