By making a contract, consumers are able to increase their FICO scores to a great extent. The credit History of the consumer is slowly built better. If a consumer wants to follow this process, then he/she must choose the correct vehicle for themselves. If the consumer applies for an expensive vehicle, then the money spent on auto-Mobile credit improvement shall be higher. Some consumers have to ultimately suffer when repossession of the car occurs.
Repossession of Vehicle – Wait for An Year
If repossession of the vehicle ever occurs, a consumer has no choice then to wait for at least one-year and then apply for a Bad creditauto-Mobile loan once again. Consumers who do not have a good credit History must consult a professional dealer regarding the best car for his/her needs.
Purchase the Correct Vehicle
A consumer must not choose the best or their desired car with a Bad creditloan. Families must only consider small or mid-sized vehicles from the Bad creditloan. Consumers who purchase large and expensive vehicles have to pay higher insurance premiums and the interest rate increase the costs of monthly repayment installment.
Low Interest Rates for Used Vehicles
A consumer must know which car shall fit in his/her budget. A consumer must choose the highest repayment installments so that the interest rates remain low. By financing a used vehicle at a shorter time period, a consumer can save money on interest rate and purchase a new vehicle within two and a half years.
All consumers should only choose an already used car by a Bad creditloan. Although new vehicles have need less maintenance, they come with a higher interest rate. Good news for consumers is that new car incentives have been introduced which not only enable lower interest rates but also offer better down payment methods.
At autocredit Express our business is to match up our credit challenged applicants that are looking for a bad credit auto loan with dealers in our nationwide network that can help them get this kind of a loan. But the process of reestablishing your autocredit can be an expensive one – especially if you choose the wrong car.
New cars are usually more reliable than used cars, but often the added expense puts them out of reach for many bad creditcarloan customers. Fortunately, new car incentives, usually in the form of “customer cash”, can not only lower the price of a new vehicle, it can also contribute to the down payment requirements of many subprime lenders.
For the month of February, Kia Motors is offering customer cash on many models that are ideal vehicles for bad creditcarloan financing.
For the month of February, Kia has elected to continue its program of aggressive incentives – particularly as a percentage of MSRP (window sticker prices) – on its entire lineup of vehicles from the base Rio to the top of the line Borrego.
Customer cash incentives during the month of February, which are available to all buyers regardless of their credit score, for 2009 models are as follows:
2021 Kia Amanti – $3,000
2021 Kia Borrego – $3,000
20021 Kia Optima – $3,000
2021 Kia Rio – $2,000
2021 Kia Rondo – $2,000
2021 Kia Sedona – $1,500
2021 Kia Sorento – $5,000
2021 Kia Spectra – $3,000
2021 Kia Sportage – $2,000 Customer cash incentives for February for 2010 models are as follows:
2021 Kia Forte – $1,000
2021 Kia Optima – $1,000
2021 Kia Rio – $500
2021 Kia Sportage – $500
An example: the 2009 Kia Rio
A good example of the difference dealer cash makes is the 2009 Kia Rio, an ideal car for bad creditcarloan buyers. There still are some 20020’s available and to move them off dealer lots, Kia is putting $2,000 customer cash “on the hood” of the Rio.
Let’s price out a 2020 Kia Rio. The 2009 LX model with the 4-cylinder engine and automatic transmission also includes AM/FM/CD/Sirius radio with a USB connection for your iPod, power steering, power outside rearview mirrors, tilt steering wheel, rear window defroster and all the air bags. The MSRP is $14,770. With tax and fees (estimated), we’re looking at $15,800 or so. Now, subtract the $2,000 in customer cash for an amount to finance of $13,800 – a very affordable vehicle even if you’ll be financing it with a bad creditautoloan.
In addition to an affordable price, all Kia models come with an excellent 5-year/60,000 mile basic warranty that includes 24-hour roadside assistance as well as a 10 year/100,000 mile limited powertrain warranty – one of the longest and most comprehensive in the industry.
The Bottom Line
Rebates and customer cash are a great way to not only make a vehicle more affordable, but also contribute towards your down payment. In the case of the Rio, you can buy a vehicle with a retail delivered price of nearly $16,000 for under $14,000.
At autocredit Express, we feel it’s important that you make the right choices when it comes to a bad creditcarloanbuying decision. Those choices include finding the right dealer and the right car to help you reestablish your autocredit. Most of the models listed above, with the additional customer cash, will make a bad creditcarloan more affordable, while keeping the interest costs down.