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Guaranteed Car Finance

By Edited Apr 6, 2016 0 0

You may be wondering about the legitimacy of all the guaranteed car finance offers that have become so prevalent over the past two to three years. The truth about these sorts of guaranteed car financing offers is that they often have difficulty delivering on the "guaranteed" part, and many times the dealerships and car manufacturers that make such offers will still mandate that the car buyer have a good credit score and other financials before they can be approved for any kind of car financing at all.

If you are a car buyer with bad credit or a low income then you are still going to have trouble being approved for any sort of car financing and this includes these kinds of guaranteed car finance offers. Just because you see that the dealership is advertising guaranteed car financing doesn't mean that they will be able to grant you such financing, and you must determine before you apply the specific offer's details and rules so that you don't waste your time applying for a guaranteed car financing offer when you don't realistically have a shot at receiving such financing.

The rise in popularity of these types of guaranteed offers has served as an appropriate indicator for just how successful they have been at luring people into dealerships across the country. Guaranteed is a powerful term, and when people see this they immediately think that they will qualify for financing even if they may have serious credit problems or no income. The reality is that pretty-much no dealership will be able to give you any kind of financing if you don't have an income, and very few will be able to give you a car loan if you have terrible credit. This has become even more true ever since the economy tanked and the so-called "credit-crisis" took effect. The past two to three years have seen the credit markets tighten significantly and this has made getting a car loan even more difficult. It has also made the legitimacy of these sorts of guaranteed car finance offers even more questionable, and I think that it is always best to contact the dealership or other provider of such an offer before you go out to the car lot and pick out a vehicle.

The bottom line with these sorts of guaranteed car financing offers is that you need to take anything the offer says with a grain of salt, and if you have bad credit or a low income then it is still highly unlikely that you'll be able to qualify for such an offer. Each individual offer is different, and if you must find out yourself then by all means contact the particular dealership or manufacturer that is providing such an offer to see where you stand. The only guaranteed way to ensure that you will always receive a car loan is to improve your entire application and that means improving your credit and income. You could also try to find a credit-worthy cosigner for your car loan, but this isn't an option for the majority of people. When all is said and done the best way to approach these sorts of offers is with a great deal of trepidation, and unless you want to get burned in the end it is always best to contact your dealership before you head to their physical location so that you don't end up disappointed.

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