How can Suburban Fresh Start guarantee an auto credit approval?
When your credit is good car loan companies evaluate your credit report to determine which auto financing program you
will qualify for. When you have bad credit, lenders evaluate the value of the used car. In other words they loan
based on the collateral value. Every vehicle on our lot qualifies for a guaranteed auto
amount based on its value.
I have a trade in with negative equity and bad credit. Can Suburban Fresh Start help?
Negative equity and bad credit don't mix well. To limit the risk on a bad credit auto loan
companies prefer to finance an amount equal to the value of the new purchase. It is possible to finance a used car with
negative equity and bad credit, but you should expect a higher payment than you currently have.
Will a co signer help?
If you have bad credit, no credit, recent bankruptcy, or foreclosure a co-signer with a good credit rating
will often help you to qualify for the best car loans
, interest rates and loan repayment terms. The amount that
you qualify for, however, will still be based on what you can afford.
How much money down do I need?
The money down needed can be a combination of cash and trade equity. The actual amount needed varies based
on your credit rating and vehicle selection. For example, if you're approved for a $15,000 auto loan and
want to purchase a vehicle with a selling price above that, you would have to make up the difference with
money down. We do have zero down auto loan programs, but we recommend that the car buyer cover the tax,
title, and license fees with money down. When you borrow for the collateral only you will typically
qualify for better auto loan interest rates and repayment terms.
What are the qualifications for people with bankruptcy?
Our guaranteed credit approval
program applies to everybody, regardless of your credit profile, whether
you have a bankruptcy, foreclosure, repossession, no credit, get paid in cash, are unemployed or self
employed you will qualify with our Guaranteed Credit Approval program.