For those new to the process, Bad credit car loans are an auto loan that are made available to an individual with a credit score that is considered subprime. A subprime credit score is usually considered any FICO score below a 620. People with (Bad Credit) such scores are considered to be "high risk", and are often denied by traditional lending sources. Because they are denied by traditional car dealerships and lenders such as local banks, credit unions, or lending arms of car manufacturers such as Ford Credit or GMAC, people with low credit scores are often forced to seek financing through alternative options. Such options often include local automobile dealers and/or local finance companies which are likely to charge them higher interest rates to offset the higher risk of them defaulting on loans. If you do not know what your credit score is, the Fair Credit Reporting Act entitles you to a copy of your credit report once every twelve months through annualcreditreport.com. We here at Last Chance Loans, LLC / Performance Lending Inc. highly encourage potential car buyers to read and be aware of what their credit report says before applying. And be sure to check your credit report for errors to avoid being penalized for old and/or incorrect information.
Bad Credit Car Loans with no money down is what we specialize in, Because everyone needs a second Chance!
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Performance Lending Inc.
Last Chance Auto Loans, LLC
Last Chance Loans, LLC
While there is no nationwide standard for Loans For People With Bad Credit , here at Last Chance Loans, LLC / Performance Lending the typical requirements for someone applying for a Car loan are as follows: Monthly income of at least $1,500 gross 18 Years of Age or Older Current resident of the United States or Canada Current legal American or Canadian citizen or legal resident Employed full time or has guaranteed fixed income Gross income refers to an individual's pre-taxed monthly income. This income should be verifiable through documents such as tax records. Fixed income such as Social Security, Disability Insurance, Child support, Alimony, or Public Assistance should be included in your monthly income total. At least $1,500 gross income is required, and a $1,800 monthly income is recommended for most credit situations. Seasonal employees or temporary employees who have been at their agencies for less than six months do not qualify. We here at Performance Lending like to make Bad credit Loans easy by offering Bad Credit Loans Online to All 50 states. Thats right, North Carolina, Florida, Maryland, Texas, California, New Mexico, Virgina, South Carolina , Delaware, Arizona, Hawai, Alaska, Washington, Tennessee, Ohio, Michigan, Missouri, Montana, Indiana, washington DC, North Dakota, South Dakota, Colorada, Alaska, and the united States.
Here at Performance Lending Inc. we may be able to find a lender or dealer that can get approved for vehicle financing even while you're going through awful situations like bankruptcy and repossession. Obtaining an auto loan after bankruptcy discharge is one of the best ways to help you rebuild your credit score, and even if you have not completed the bankruptcy process you're still eligible for an open bankruptcy auto loan. Get back on the road today in a car from one of our national car dealerships that accept bankruptcy clients and specialize in subprime lending.
We have people ask us all the time, "Is it better to sign a lease for a vehicle or try to get approved for a loan?" The answer isn't so straight-forward because each person’s financial situation, credit history and vehicle requirements are different. These factors play a large role in deciding whether leasing a car or taking out an auto loan is the better choice. By evaluating our customer's needs, we can more accurately decide what financing option is going to be the most beneficial for them.
Poor credit scores can leave you looking for a special finance company to help you when you want to purchase a new or used car. The good news is that if you're reading this you do not need to look any further for a company that may be able to connect you with a lender that will get you approved auto financing. We specialize in helping people who traditional lenders do not want to lend to - and we can help you right now. People with reliable income get approved everyday for a special finance car loan.
To see how we can help, visit our military auto loan explanation page to see how we can help active duty and retired military members get auto financing.