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Getting an Auto Loan After a Bankruptcy

Car shopping with bad credit is a struggle but what about if you have a bankruptcy? Going through a bankruptcy can make it feel like you have nowhere else to turn and that it is the end. The key to fighting back against bankruptcy to still get the auto loan for the car you need is fighting against the idea that a bankruptcy is the end of the road.

It’s a hard thing to have to go through a bankruptcy, no one is denying that. That doesn’t mean it has to be the dark cloud that forever looms overhead though. There is a societal aspect to seeing bankruptcy as something that only happens to people who are irresponsible with their money, that they couldn’t deal with their finances and are suffering the consequences. This is the wrong mentality. Bankruptcies happen to good people who have structured finances. The problem with life is that things happen from illness to job loss and anything that dramatic can crush even the most well thought out financial planning.

What to keep in mind when you’re looking for an auto loan post-bankruptcy is what lenders look at. They will look over payment history to see how you dealt with previous loans and if you missed any payments etc. They will also look to see how an uncontrollable event like job loss impacted your finances. Your current financial situation as well as income will also be taken into account and that could lead to the lenders asking for more money down on the vehicle in order to secure a loan.

The reality is that you can still get an auto loan, but keep in mind that you’ll be having to make compromise. You may not be able to obtain the dream car you wanted, but if you can get an auto loan and keep up with the monthly payments, you never know where you’ll end up. It certainly looks great to lenders that you’re keeping up on your payments after a bankruptcy. Keep the faith and be willing to put up with limitations and you can find your financial life still possible after a bankruptcy.

If you have bad credit or low credit and need to get a new or used vehicle, be sure to contact us at Approved Loan Store. Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

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Fighting Back Against Bad Credit

So you have poor credit. It may seem like a mountain and is definitely difficult thing to have, but that doesn’t mean that you will be unable to get an auto loan. Most people seem to think that having bad credit is the end, to curl up on the bed and give up. What most people don’t realize is that even with bad credit, you can get an auto loan. An auto loan that can lead you to being able to fix your credit situation.

What needs to happen is action on your own behalf. You need to start taking the steps to fixing your credit problems and an auto loan is a great way to get started. The process to get started is with your credit report.

As with all credit issues, accurate reporting on your credit report is key. You are able to get your credit report from the three major companies, Experian, Equifax, and Transunion, once a year and you should. Those documents are so vital and most people don’t realize it. Comb over it and look for any and all discrepancies and make note of them no matter how minor. Once you’ve found them all, time to get them removed.

It is easier said than done. It may take multiple letters and will take time, but it is worth it. Getting any and all errors removed may show that your credit is not as bad as it seems.

Having poor credit is not a jail sentence, it is a wake-up call. Should you need to get something like an auto loan for a car that you need, knowing you have bad credit is the first step in getting it resolved.

Pitfalls to Avoid When Car Shopping With Bad Credit

Life is already tough enough for people looking to purchase a vehicle with a bad credit. They’re options are more limited than the average buyer and it can really weigh on people when they go car shopping. It is easy for an individual suffering from bad credit to just feel the weight of the world stacked against them. There is hope for this person. There is plenty that this person can do to help make the car buying experience easier and better if only by avoid a few common pitfalls.

First, don’t just randomly buy a car. As weird as that sounds, like someone walking around a car lot with a blindfold on, what it really means is not to accept that this is the only vehicle possible. Think about the vehicles you have available for you. Research the vehicle(s) that have been made available for you and see which the best value is truly. Ask questions, take it for a test drive, do the usual business people are supposed to do when auto shopping. Just because you have bad credit doesn’t mean to ignore the process.

Look for a down payment option. Down payments are very important for people with bad credit. The more you are able to put down towards a vehicle, the better off you will be as far as options are. While it isn’t always true, it is something to be explored. Make sure you know how much money you can possibly bring with you as a down payment. Don’t put yourself in a position where it’ll hurt your ability to pay your monthly loan on time. Know your finances and see what can be sparred for a down payment.

Using these tips and will be able to help you when you’re fighting to get your credit back. There’s plenty more, but these two will help you out when it comes time to get shopping. If you need any more help, contact us at Approved Loan Store. Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Get Approved for an Auto Loan With Your Tax Refund

It’s the same struggle every year. Taxes are done, and done early, and the tax refund has finally arrived. Now, what to do with it? We’re here to make that decision easy; use it to get an auto loan!

We here at Approved Loan Store work hard everyday to help people with bad and poor credit to get approved for auto loans. This year, we’re reaching out to let people know that If you have a job and your tax refund, we can get you a car loan.

YOUR TAX REFUND + A JOB = GUARANTEED CAR LOAN APPROVAL!

Click right here to Start Your Application Right Now! Don’t worry about that credit score. Fill out the short application and get the process started ASAP!

Don’t worry about that credit score. All you need to do is head on over to this page and fill out our short online application. Once it’s been completed, a representative will get in touch with you to get the ball rolling.

Give us a call at 877-217-2217 to speak to one of our representatives. If you’d like to learn more about Approved Loan Store, head on over to our website where you can view our customer testimonials and view our 5-Star reviews on Facebook.

Submit your info below NOW to get started on your GUARANTEED APPROVED CAR LOAN!!!

Car Buying Tips for Bad Credit Shoppers

You have bad credit and need to get a car. That’s never a good place to find yourself in, but that doesn’t mean there isn’t something you can do. Here is some advice on what you can do to help yourself out when it comes to getting an auto loan with bad credit.

First, know your credit score. This one is very important for so many reasons. First, you have bad credit, but just how bad is it? Do you know your score? This is something you should always know. Get your credit report from the three credit agencies and make sure that you know just how bad the score in the reports is.

Second, consider a large down payment. When getting an auto loan, a good way to counter balance bad credit is to get more money to put down. It is a way to show the lenders that you have the ability to put together money and are showing you’ll be making sure to hit those monthly payments. If you can put together a larger down payment, make sure you do it.

Lastly, accept that with bad credit, your car choices are limited. We all want that nice new sports car that was shown on this or that movie. It would be nice to cruise down the street in our dream vehicle, but that is not the option yet. For the time being, practically outweighs desire. Understand that when auto shopping with bad credit, you’re going to want to stick with an older car that will likely be cheaper. Make sure to assess it to see if it matches your needs for size and capability. You may already realize that, but it is something that needs to be stated.

Are you ready to get into a great new or used car, truck, or minivan? Now is the time to buy, and Approved Loan Store can help you find the car you want at terms you can afford, even if you have credit problems! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Getting an Auto Loan After a Repossession – It’s Possible!

After going through an auto repossession, is it impossible to get approved for an auto loan? The answer is that, surprisingly, it is possible, and with the current availability of auto loans, it is probable that someone could get approved.

Here are a few tips to give you the best possible chance at getting approved before even walking through the door.

Check Your Credit Report – A repossession won’t be a deal breaker if the rest of your credit history is in order. Maybe you made a few mistakes in the past or went through a job loss or medical emergency, and you missed a few payments. Maybe the repossession is one mistake in an otherwise decent credit history. It is important to get a copy of your credit report and your FICO score so you know where you stand. A repossession will put a dent in your credit score, but if you have otherwise kept up with your other loan or credit card payments, your credit score might not be as bad as you think.
Bring Money and Your Documents – If you expect to get an auto loan that day, you will need a valid driver’s license, recent pay stubs, utility bill that proves residency (electric, not cell phone), and either a W2 from the previous year or last year’s federal tax return. Also, the chances of getting approved are improved if you bring money to put down, so bring whatever you can reasonably afford.
Keep An Open Mind – Is it possible to get the car of your dreams, even if you have gone through a repossession? It is possible for some people under specific circumstances, but you might find a better deal if you go in with an open mind. Maybe instead of the new car you have been eyeing, you decide to go for a nice pre-owned vehicle and get a better rate or lower monthly payments.

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The Best Use of Your Tax Refund (Hint: It’s Not a Vacation!)

Tax season is here again, and as people across the country file their tax returns, they are already making plans for how to spend their tax refunds.

With summer quickly approaching, many families will probably use their refund towards a vacation, new warm weather outfits, or a PS4 or Xbox One to keep the kids occupied while school is out. Unfortunately, there is a great option that families don’t always consider, and it can improve job stability and overall quality of day-to-day life.

Families who have been planning to buy a new car in 2014 should consider purchasing a pre-owned vehicle from a recent model year. Owning a car can improve a family’s economic standing, the parents’ job stability, and the well-being of the family as a whole. Additionally, it can improve the credit health of the parents if they keep up with their payments, and if they use their tax refund towards a down-payment, they can certainly negotiate a lower interest rate. Also, a pre-owned vehicle from last year or only a few years ago will still have modern features like built-in navigational systems, driver/passenger climate control, or Sirius radio.

Are you ready to get into a new or used vehicle? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get you into a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and connect with Approved Loan Store online on Facebook, Twitter, and YouTube!

Image courtesy of Grant Cochrane / FreeDigitalPhotos.net

3 Easy Steps for Winter Weather Driving

Winter storms are hitting the country, shutting down schools from the Midwest to the East Coast and even in the South. Cities that have never had to deal with snowy roads, like Atlanta, Ga., are buying up snow tires, and drivers are learning to drive on ice for the first time.

At Approved Loan Store, we want to provide our readers with some easy ways to prepare for inclement weather. Read on, follow our tips, and stay safe on the road this winter.

1. Avoid Distractions

Cell phone usage while driving is always dangerous, but during winter weather, it is important to eliminate other distractions that aren’t typically a problem. Some drivers might want to turn off their music and avoid eating or drinking while driving. Anyone who gets behind the wheel needs to be attentive and ready to react in case something goes wrong.

2. Emergency Kit

If something happens and a driver is stranded, an emergency kit can be a life saver. An emergency kit should include everything necessary to survive freezing weather including layered warm clothes (sweatshirts, long johns, sweat pants), a sleeping bag or blankets, jumper cables, first aid supplies, a snow scraper, a flashlight, food (dried fruit, granola bars), and water. It might also be a good idea to include a cell phone charger that plugs into the lighter, in case someone needs to call for emergency services.

3. No Unnecessary Driving

This step is pretty self-explanatory and simple to follow, and yet people continue not to follow it. In the middle of winter, almost everyone gets a touch of cabin fever. It is completely understandable, but it is also important to use some common sense. If the weather is really bad and the trip unnecessary, it is okay to wait until the roads are clear and the weather has improved.

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Understanding the Language of Car Loans

Walking into a car dealership without understanding the basic terminology of an auto loan is a sure way of needlessly throwing away money. At Approved Loan Store, we believe that better informed car buyers are happier car buyers in the long run, so we have put together the most common terms used in auto finance and explained them in simple, understandable language.

Auto Loan: An auto loan is an amount of money borrowed from a lender that will be repaid by the consumer with interest.

Loan Principle: A loan principle is the amount of money that the consumer is borrowing to purchase the vehicle. For example, if someone purchases a $25,000 car and puts a down payment of $5,000, the loan principle is $20,000.

Interest Rate: Lenders make a profit on a loan’s interest rate. The lower the interest rate, the less the buyer will have to pay on the loan in addition to the loan principle.

Loan Term: The loan term is the amount of time that the car buyer has to pay off the auto loan.

Credit Score: A credit score is calculated based on a customer’s credit history including whether they made their payments on time, how much debt they are carrying compared to how much credit they have available to them, and how long they have had open credit cards, mortgages, or other loans. Credit scores are used by lenders to determine auto loan approvals. Consumers with high credit scores are more likely to get approved for a high loan principle and low interest rate. Consumers with low credit scores will have a more difficult time getting approved for a high loan principle and low interest rate.

If you have a low credit score and have been turned down for an auto loan, Approved Loan Store wants to help YOU! Good credit, bad credit, or no credit, we will work with you to get you into a great car with interest rates and a loan term you can handle! Get started today by filling out our secure online auto loan application here, and connect with Approved Loan Store on Facebook, Twitter, and YouTube!

Image courtesy of watcharakun / FreeDigitalPhotos.net

Approved Loan Store Announces Major Expansion, New Headquarters

2014 has barely begun, and Approved Loan Store has announced its biggest expansion to date, including a new headquarters in Ramsey, NJ.

Approved Loan Store, the tri-state area’s premiere auto loan specialist, has been helping car shoppers find vehicles and financing since 2011, specializing in subprime auto loans. Their network of dealerships serves customers in New York and New Jersey, though customers from as far away as Connecticut and Philadelphia make the drive for lower interest rates and monthly payments.

“The Ramsey office gives Approved Loan Store the space to grow as a company,” said Approved Loan Store owner Todd Campanella. “2014 promises to be a very exciting year. We plan to bring on new staff and associates while still providing fresh opportunities to our current staff and great service to our customers.”

The expansion is about more than space. Approved Loan Store’s new Ramsey office also represents a major technological upgrade for the company including an entirely new customer service phone system, improved customer tracking, and safeguards for ensuring higher quality service on all calls. One significant upgrade is manager oversight on all customer service calls. Managers can monitor calls and provide specific feedback to representatives, even as the call is happening.

Approved Loan Store’s Ramsey headquarters is located at 275 North Franklin Turnpike, next to the Interstate Shopping Center. The office can be reached toll-free at 877-217-2217, and the company’s website can be found at www.ApprovedLoanStore.com.