With over ONE BILLION dollars in approved bad credit auto loan applications, this company is the best option for people making over $1500.00 per month and buying a car with bad credit. Make no mistake about it, this is the most reputable lending source for affordable bad credit auto financing, in North America. You can expect quick results, exceptional customer service and low monthly payments.
The Top 10 Reasons for This Recommendation_
1. Legitimate Company - In business since 1999, special finance programs that ACE has developed have resulted in the successful approval of over 4 and half-million dollars worth of bad credit auto loan applications every single month. In fact, over 1,000,000,000 dollars (yes, that_s billion) total have been approved through this company, and that_s because they are the industry leader.
2. Flexibility _ Programs are not limited to used cars as loans for new and late model vehicles are approved, as well. A typical vehicle that fits within their guidelines is a two to a four-year-old vehicle with average mileage for the model year. There are benefits of working with a company that helps to get people into newer cars. Getting approved for a new or late model car has its benefits of lower payments, less break-downs and more warranties. That appeals to not only you, but to the good lenders who will be providing your loan approval.
3. Bankruptcy OK - Chapter 7 and 13 bankruptcy is common in today_s economy. As long as your bankruptcy is discharged, then you should be set to go. Rather than having to wait for your credit to be re-established, there are ways to get a good car loan as a first step to re-establishing your credit. Everyday, they are the first step for hundreds of people seeking to get an auto loan after a Chapter 7 or 13 bankruptcy discharge.
4. Repossession OK - There are a few requirements on this one. Your repossession needs to have either been a part of a discharged bankruptcy, or be at least 12 months old. So if you_ve just had a repossession in the last 12 months, and it wasn_t included in a bankruptcy, they simply will not be able to help you. You_ll need to work on re-establishing your credit history first, or let 12 months pass by before applying for special financing.
5. No Money Down OK - No money down programs with monthly payments based on income. It_s a myth that you always have to have a down payment when applying for an auto loan with bad credit. These guys know how to get it done by the right choice of lender, auto and credit score. By applying special dealer incentives, rebates and promotional offers, negative trade equity may be dissolved.
6. Great Rates - They_ll find the best interest rate and payment terms that you qualify for under their programs. Don_t misunderstand this. You will pay a higher rate than someone that has good credit. However, you shouldn_t settle for anything outrageous though. Find out by seeing what you qualify for. Did you know that some buy here pay here car lots charge higher interest rates than some credit card companies? Regardless of where you choose to secure your financing, do yourself a favor and avoid predatory lending practices, such as, is commonly found with lower end buy here pay here dealers.
7. Safe and Secure Application - ACE provides a 100% secure application using 128 Bit Encryption on a secure server. There is absolutely no risk of your private financial or personal information being compromised. Data security is actively monitored 24 hours a day, seven days a week by the most advanced encryption technology available on the web.
8. Same Day Approvals _ One of the biggest hassles of buying a car with bad credit is the waiting. Having to sit in a car dealership for hours while the finance manager _sees what he can do for you_ is a real pain. By handling your application and/or pre-qualification online, you get a quick response at home, without having to wait for hours at a car dealership.
9. Superb Customer Service - You will get the respect you deserve, regardless of your past credit history. Too often, people are treated unfairly or looked down upon when they have bad credit and are applying for an auto loan. When you apply, you_re not just sending your information into a dark hole. There are real people standing by to help you. They have one goal, and that is to get you into a good car loan, regardless of your past credit, through the best lending partners available through their service. They will provide you with the information that you need to make a wise decision and there is no pressure, no hassles and no fuss. I_ve been nice so far, haven_t I? Remember, just because you have credit problems does not mean that you aren_t a customer! YOU have the final say so about what you do or don_t buy, and it_s up to YOU to say I will accept this offer or no, I will not. That_s the way it should be.
10. Coverage is Available in the Following U.S. States & Canadian Provinces: Alabama, Alaska, Alberta, Arizona, Arkansas, British Columbia, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Manitoba, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Brunswick, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Nova Scotia, Ohio, Oklahoma, Ontario, Oregon, Ottowa, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Toronto, Utah, Vermont, Virginia, Quebec, Washington, West Virginia, Wisconsin and Wyoming.
Why is _Buy Here, Pay Here_ Financing Not Recommended?
A recent CNN editorial referred to the Buy Here, Pay Here industry as, _bottom feeding for used car buyers in a recession._ That is strong language. The buy here pay here industry as a whole, sells used cars with an average odometer reading of 90,000 to 110,000 miles with absolutely no warranty. Buy Here Pay Here interest rates are usually very high with an average rate of more than 20%. Car sale prices are hardly negotiable and down payments are always required. To top it off, buy here, pay here car lots rarely report your payment history to the credit bureaus, resulting in no benefit to your credit score as you make your timely payments.
Having worked around sub prime auto financing since 1996, I can tell you that you will hardly find anyone that would choose to use buy here pay here financing over a real bad credit car loan. It_s easier to get approved than many people think for a good car loan with bad credit through companies the specialize in sub prime auto loans. It_s mainly a matter of knowing where to apply and focusing on top companies that provide car-buying services and loan arrangements, as listed above. This website is not here to _bash_ the in-house financing industry. It is simply our opinion, that there are better options for most consumers. If and when any buy here, pay here dealerships that are fair to deal with are noted, they will be recommended in the future.
What About My Trade In?
Have you ever noticed that every car dealer offers to give you a different amount for your trade? They call this a _trade allowance_ and is usually not based on the actual value of your vehicle, but is more of a number_s game. With legitimate dealer incentives, rebates and promotions, you will probably find that even if you do owe more on your trade-in than it_s worth, there are creative ways of absorbing negative equity into your new loan.
Before you make any buying decision, you_ll know exactly what you_re being paid for your trade, how much is being sent to pay off your present loan and what the difference is, whether it_s positive or negative. If your vehicle is currently paid off, that_s great and will help to reduce the amount of your new loan. If it_s financed through a buy here, pay here dealership it will be handled the same way as if it were financed through a traditional lender. You have the final say in accepting or rejecting any offer or quote.