How to Get Guaranteed Car Financing With Poor Credit

Are you struggling with your current credit history? Do you find that auto loans are near to impossible to get? Are you just looking for the best car in either a new car or used car but dread doing a car loan application?

I may have some good news if you’ve suffered with bad credit car loans in the past. Learn this tip on how to get a guaranteed car finance rate easily.

One thing to be sure about is you need to know all the good, bad and ugly about your credit rating before you apply for financing. Especially anything that can trip you up. Don’t try to cover up anything when you contact a credit company for a credit car loan.

These things will cause you to either not get good car credit or increase your interest rate as the finance company will be trying to cover their butts for years on a loan that may go sour with you.

Be sure to first try and correct issues that could ruin any car leasing deals you may find. If you can’t fix a problem, before you get an auto loan figure out a good and plausible excuse why you have this gray mark on your credit history. Don’t fabricate anything, but think about what lead you to have a poor credit auto history. You may surprise yourself when you start to think about it. Truly if you’ve made a mistake tell them that.

Then make sure you expose this flaw right up front. This will give the leading company a lot more trust in you and could make the difference between better rates or just making the deal.

Guaranteed car finance can also be less stressful when you apply online. Whether you are looking new used or otherwise, you can normally finance car loans with these online vendors.

Actually, a guaranteed car finance on a vehicle may be the best way to go in the long run. Plus if you own your home, make sure you mention this as well. You can secure guaranteed car finance rates that will make purchasing dream cars even easier. Even if you have considered picking up a new or used BMW, this is important. You see, when you apply online, if the company can secure an auto loan against an asset that is growing in value, you may save several points on the loan! This is a great way to get a better rate car loan.

To recap, if you want that car and you have bad credit, clearly review what caused your bad credit in the first place. (95% of all applicants don’t to this!) Next, clean up blemishes on your credit history. Finally, if you cannot remove a blemish, be sure to clearly expose it with a truthful and good reason. Even if you just screwed up at the time, it’s better then pretending that it’s not there! So, be sure to apply online for guaranteed car finance as it’s less stressful and actually pretty quick!

Taking a Financed Car to Mexico and Insuring it Properly

Everyone wants to take their new vehicle on a roadtrip. You have the dependability and all the luxuries afforded by a new vehicle. If you are planning a roadtrip to Mexico, it makes perfect sense to take your new ride across the border. However, if you are financing the vehicle, there are some important steps that need to be taken before heading off toward your Mexican adventure. You will need to contact your lienholder for written permission to take your financed vehicle across the border. You’ll need to allow your lending institution ample time to issue permission and get the document to you. Finally, you’ll need to get Mexican insurance to cover the vehicle for the length of your stay south of the border.

Temporary Import Permits

When driving into mainland Mexico, you must obtain a Temporary Import Permit for your vehicle. This is to help govern the introduction of foreign vehicles into Mexico. These permits are issued for the length of your stay in Mexico with a maximum time allotment of six months. Permits can be renewed prior to the expiration date for extended stays. All permits must be returned to the border authorities before leaving Mexico.

Contacting Your Lienholder

The first and most important step is to contact your specific lienholder and notify them of your plans to take your financed vehicle out of the country. There may be special requirements or an approval process that needs to be completed before permission is granted to enter Mexico with the vehicle. The lienholder may have restrictions on the length of time they will allow you to have their vehicle out of the country, so be sure to ask. Your account must be in good standing with the financial institution and certain lienholders may require a minimal amount of credit history established before permission will be granted. Keep this in mind if you just purchased the vehicle.

It will take your lienholder time to process your request for permission to take the vehicle across the border into Mexico. Typically permission can be granted within 48 to 72 hours. During the busy holiday season, lienholders receive a high volume or requests, so turn-around times of a week or more are not uncommon. You will always want to ask your particular lienholder what the expected time will be for processing your permission request. Most lienholders can fax or even email the permission letter to you for faster service.

Obtaining Mexican Insurance

Most lienholders will require proof of insurance for Mexico before issuing a permission letter to you. A few lienholders may require specific coverage limits and deductibles, so be sure to ask for any special requirements when you contact them about your permission request. It is easy to obtain Mexican insurance online prior to your trip. There are several reputable online sources, but make sure to look for some important features of the coverage offered. These key features include the policy deductibles, limits of liability, additional benefits such as road and or travel assistance, and if the policy allows for repairs to be made in the US or Canada. This last item can be particularly crucial with new vehicles for a couple of reasons. First, the lienholder may require any repairs to be done in the US, and second, with newer vehicles, the parts and equipment along with properly trained technicians to perform the repairs may be virtually impossible to find in Mexico.

Once you have your permission letter and Mexican insurance policy in hand, you’re ready to take your financed vehicle into Mexico and start your roadtrip – enjoy!