Website design By BotEap.comYou’re in the market for a new car and that’s great. Today, most people buying a new vehicle will need some form of auto financing, and if you find that your personal finances or credit aren’t perfect, you can still get very affordable auto financing if you know how.

Website design By BotEap.comAn informed car buyer is a smart car buyer. When you know your auto financing options and have set up and approved your auto financing before speaking to any salesperson, you can walk into a car dealership and negotiate a better deal on your terms without feeling intimidated, regardless of your financial situation.

Website design By BotEap.comIf you know you have certain credit challenges, you should understand the differences between bad credit car loans and secured car financing.

Website design By BotEap.comAuto loans with bad credit…

Website design By BotEap.comBad credit auto loans have generally been available through new car dealers on the purchase of a new car or certified pre-owned vehicle. The actual auto loan financing paperwork is handled at the dealership, but typically, the bad credit auto loan financing contract is sold to another lender. That lender will maintain and service your loan. The loans usually have a term of 24 months up to 60 months. The disadvantages of a bad credit car loan are that many franchise car dealerships are not set up to arrange these types of loans in-house, interest rates and cost can vary widely and limit your car buying options.

Website design By BotEap.comGuaranteed Automatic Financing…

Website design By BotEap.comSecured auto financing differs from a bad credit auto loan primarily in that this type of financing is offered directly by smaller or independent auto facilities. Your financing contract is provided by the actual wholesale car dealer and the loan is paid directly to the car dealer who sold you the car. In other words, you would be financing your car purchase from the company that owned and sold you the vehicle. Secured auto financing is used for the purchase of used or pre-owned vehicles, and typically not for the purchase of a new car or truck. Loan terms are shorter than most conventional auto loans, rarely offering terms longer than 36 months.

Website design By BotEap.comThe great advantage of secured auto financing is that a credit check is often not required to obtain this financing. Payments are normally made weekly and sometimes in person. One downside to this type of auto loan is that many car dealers that provide secured auto financing will never report your credit to the credit bureaus. Therefore, if you make regular payments and establish an excellent payment history, this will not be reflected in the improvement of your personal credit profile or credit score.

Website design By BotEap.comYour best approach would be to start now and see what financing options are available to you. There are excellent specialized auto financing services available online today that offer a wide range of affordable auto loan programs, even if you have been turned down for financing or have bad credit, bad credit or other financial considerations, you will be surprised at how they can help you buy a new car.

Website design By BotEap.comYou now see that there are big differences between a bad credit car loan and a secured car financing and that there are other financing options besides these. Get approved for the best car loan for you first, then go to car dealers and negotiate your terms.