Auto credit loans get approved fast by a car dealer. The dealer usually charges a low down payment and a low interest rate on the lending amount of money. Auto dealers are known for approving loans easily and quickly without any hassle.
While it is always a moment of delight to get the keys of your favorite car model, the moment of embarrassment arises when you find it difficult to manage the necessary amount to pay the price of the car. The best way to overcome such a situation is to opt for a car loan. However, no bank or a credit union will be ready to lend money to a person with a bad credit. Such an institution will refuse an auto credit loan on the pretext you won't be able to repay the lending sum of money within the deadline as set by the institution. Does it mean that a person with a poor bank balance or in a debt will never be able to own a car! Well, to all such disheartened people, here is a piece of good news.
1. Get Car Loans without Showing Your Social Security Number and Banking Information
Yes, you are reading it right. Today, numerous car dealers are making the impossible possible by lending any amount of money a person is asking for irrespective of his or her employment history and credit rating. No more you need to submit your social security number of bank details plus company pay slip to get a new or a used car loan approved without any hassle.
2. Non-involvement in the Preparation of Papers
One of the biggest advantages or benefits of applying for an auto loan from a dealer is not taking any kind of headache for the preparation of necessary documents required for a hassle-free transfer of loan to your bank account. The officials of the dealer will prepare the papers; you need to visit the dealer's office in-person as per your convenient time to sign the papers and complete the formalities. Thus, you save time and energy in the process.
3. Low Down Payment and Low Interest Rate
In contrast to a bank, a car dealer usually charges a low down payment and a low rate of interest on the amount approved as auto loans. Moreover many a times, the down payment amount is also curbed on a special request made by the borrower.
4. Quick Approval of Loans
An individual eagerly wanting to get a loan quickly in order to buy a car can do so with the assistance of a dealer. They don't believe in wasting time approving a loan; rather ensure a person gets the amount quickly without waiting for weeks or months.
5. Extension of the Repayment Period
The dealer applying his discretionary powers can extend the loan repayment tenure to some more days on request by a borrower. This facility is not provided by a bank under any circumstances.