Getting a Guaranteed Auto Loan from a Dealership

Are you familiar with the guaranteed auto loan? Smart dealers know how to please their customers. They combine the selling of the car with a guaranteed auto loan. While accepting this type of loan can be a good choice, it requires you to do your research, stay informed and understand how the dealership is coming up with the numbers.

Everyone is Approved for a Guaranteed Auto Loan

Even when an auto loan states that it is “guaranteed”, make sure that you read the fine print because there are always some qualifications. You’ll also want to know what the penalties for missing a payment are.

While getting the loan might be nearly guaranteed, the terms of the loan might not be appealing for some. For example, some dealership may require you to pay weekly. Can you make that work with your paydays and your budget?

Others might not provide an actually purchase price instead quoting you a payment and a term, but never giving you an actual price on the vehicle. You’ll want to work it back so you don’t pay too much.

Find a Dealership That’s Right for You

There are lots of dealerships that offer a guaranteed auto loan service. You can find them online, on television, and even in your phone book. Find a dealership you are comfortable with that has the vehicle and the guaranteed auto loan you want.

Set Your Budget and Know Your Auto Needs

When you’re on the hunt for both the right guaranteed auto loan and the right vehicle, you are going to find yourself facing temptation along the way. There’s going to be at least a couple of vehicles that you are tempted to buy even if they don’t meet your needs. That SUV might look impressive but it doesn’t have the fuel efficiency that you need. By knowing in advance what you want out of your vehicle and its loan you are far less likely to find yourself making a grave mistake based on temptation.

Provide Detail on Your Guaranteed Auto Loan Application

Fill out your loan application and make sure you provide good detail. The more detail you provide the more likely your loan will be approved and the faster you will get your answer.

Many of these dealerships offer online applications. Once you have completed the form and have your approval, you can go to the dealership and start test driving. The application will provide you with the maximum loan you are pre-qualified for and the rest is up to you.

Every day thousands of people with poor or no credit buy a vehicle on payments by opting for a guaranteed auto loan from the dealership. The car business is very competitive so take your time and find the guaranteed auto loan that is best for you.


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