Having a truck makes transportation issues easier to handle, especially for commercial business owners.
As important as a truck might be to you, to own one, you must have the financial prowess. But this becomes a problem when you do not have the money or at least enough cash to buy one.
Turning to traditional financial institutions for financial aid might be tempting, but when you take a closer look at what they bring to the table, the stress of even accessing their offer might not be something you want to go through.
A better option you may have to use efficiently is auto financing through truck loans. Let’s learn how to get a truck loan!
Truck loans can help you purchase a truck for your business while you make regular monthly payments until you finish paying the entire value of the truck at an interest rate.
There are several auto loan companies close to you that may promise to render this form auto financing service.
You have to carefully sort out, among the lots one which you can conveniently see out the loan term, one that will guide you and ensure you do not go into bad credit.
This is where Car Loans of America comes in. Don’t waste any more time, get that truck you need to be financed today!
Bad Credit Truck Loans
Truck financing bad credit no money down? We are a licensed car loan and bad credit truck loan company that is ready to assist you to own any automobile – bad credit or not.
We are interested in taking charge of your financial burden and finance the much-desired automobile you want whether your credit is good, fair, or poor.
Our auto loans cover cars, trucks, vehicles, and vans. The advantages of our bad credit truck financing include:
• We consider all credits, especially people with bad credit
• Reliable customer service
• Flexible payment terms which could be up to 48-months duration
• Zero hidden charges
• Access to affordable and competitive interest rates (usually not more than 24% APR)
• Zero auto loan origination fees
• No prepayment penalties
How to Get a Truck Loan with Bad Credit?
A truck loan is a financing option solely to buy a truck. The dollar sum received in a truck loan is used to purchase the truck with an agreement to pay back the amount borrowed with interests.
This payment must, however, be made monthly. Truck loans fall into the category of secured loans and so collateral is needed for you to qualify for one.
However, this collateral for the loan is the truck you are purchasing with the money you are been given. Your truck is financed because you are creditworthy.
Since the truck serves as collateral, if there is a default in the payment of the loan, the borrower loses the truck to the lender. We even offer used truck loans!
Bad Credit Truck Loans FAQ:
When you apply for a truck loan with Car Loans of America and have signed the necessary documents and agreement, you receive the dollar amount to purchase your truck.
The vehicle title is written in your name, although, the truck is not yet yours, technically, until you are done paying the loan you were given.
Getting a Car Loans of America truck loan is far easier than buying a truck directly from a car dealer, especially when you don’t have enough funds to finance the cost of the truck.
And when you apply for the truck loan, it is important to also include other additional costs like tax and the truck registration fee to the cost of the truck. In getting a bad credit truck loan, three major factors are to be considered. These factors include:
• How much you want to borrow. This amount is not fixed as it is dependent on whether you have a trade-in truck and/or you want to make a down payment
• If your monthly income can support the truck loan payment
• The Annual Percentage Rate (APR). that is, at what interest rate will you repay the loan
• The loan term is the amount of time you have to pay back the loan
Once you are qualified, and these conditions are settled with you, irrespective of your bad credit, it becomes easier to quickly get our bad credit truck loan
Truck Financing for Bad Credit!
As you move from one truck financing company to another, policies differ. With this difference in policies comes a difference in the interest rates.
While some have high-interest rates, others have relatively low-interest rates. As you seek a truck loan, you must search for the best auto loan with fair interest rates.
At Car Loans of America, we can give you a bad credit truck at a comparatively low-interest rate. This amongst all others is one thing that has kept us at the apex of the car loan market.
It is in our best interest to proffer solutions to your truck worries and so, we offer our truck loans at interest rates that are convenient and affordable. How to buy a truck has never been easier …
The auto loan interest rate may depend on some factors, like; credit score, your monthly income, loan duration, and your choice of vehicle, and with Car Loans of America, it’s usually a win-win situation.
Why? Because you can get affordable truck loan calculator rates even with bad credit with us. Searching for truck loan dealers near me? Come to us and we’ll direct you in the right path to truck loans!
Apply Online for Truck Loans Pre-Approval …
Car Loans of America ensures that even with bad credit, you can still qualify for a truck loan. Bad credit does not signify the end of shopping for a truck and so we still find a way around truck financing for people with bad credit, and they still get to enjoy similar privileges and benefits of preapproval like people with good credit.
Sources including the Consumer Federation of America and National Credit Reporting Associations, Bankrate.com, Investopedia, Credit.com, and a host of others usually consider a bad credit score to be FICO score of 600 and below while the Congressional Budget Office identifies a FICO score of 620 and above associated with good credit.
In getting your truck financed with us, your credit score is not a yardstick in getting qualified technically. This is because we still get to find convenient options for you.
We wouldn’t want your bad or poor credit status to stand in your way of getting that nice truck you need to grow your business even when we know that having poor or bad credit is not a good thing.
Co-signer Truck Loans
When you have bad credit or no credit at all, you may be advised to get a co-borrower. The co-borrower is also seen as a co-signer or co-applicant.
The co-signer must be creditworthy to improve your chances of qualifying for a truck loan. He shares in the payment of the loan if peradventure you as the borrower fails to see out the truck loan term.
However, getting a co-borrower is not compulsory to get a truck loan. Since the co-applicant gives assurance to the lender that the loan term will be seen through on time, this option enables you to build your creditworthiness back in no distance time.
With Car Loans of America, your credit history is eventually built back to a standard that will be acceptable by all financial institutions.
Bad Credit Truck Loans for New Trucks and Used Trucks!
We are selective of the age of truck we finance, be it a used or a new truck.
If, however, you are more interested in having a new truck. We will see if we can get you to finance for a new truck, but we always want to make sure your monthly payments are within your budget.
At Car Loans of America, the age of the truck does matter. We only ensure that when you come to us, you leave us satisfied with a truck that suits you.
All you need to do is approach us today for a truck loan and we will take it from there. With our selected dealerships scattered all over America, getting you the truck of your dreams is not a challenge.
Whether it is a used or pre-owned truck, one of our truck dealers will have the best option for you. Use the following checklist to buy a truck …
Bad Credit Truck Loan Checklist:
As you may have already noticed, getting a truck loan has become far easier, especially when you get an online auto loan to finance your truck purchase.
However, you have to bring certain truck loans and auto loan requirements for you to get a bad credit truck loan from us.
Once you have met these necessities, you should already be off with a pre-approval to any of our dealerships. We remain one of the best truck loan providers in America that offer auto loans to people with bad credit and have been known to provide this assistance to people in the shortest time possible.
You can get a bad credit truck loan with Car Loans of America with only a few stipulations. These truck loan stipulations include:
- Proof that you as the borrower is 18 years or above
- Any authorized form of identification (except your security number)
- Proof of your income which may come in the form of bank payment slips, pay stubs or even tax returns
- Proof of where you live. Utility bills, rent receipts and any legal document with your address on it can serve this purpose
- Your permission and agreement to insure the car
- A couple of references
- Intent to buy a truck from any of our authorized truck dealers (if any)
Apply Online for a Bad Credit Truck Loan!
To get a bad credit truck loan, your first have to know what your credit is. Have available copies of your credit report so that you can have an idea of the best deal that will suit your finances.
This helps you rebuild your credit rather than end up with a loan that will leave you in more debt.
During this process, you fill out our online truck loan application form on our secure website. And in minutes, you will receive a call from one of our car financing professionals.
Our application for a truck loan online form is simple and 100% secure.
Application For Bad Credit Truck Loans
You may also use the option of calling our toll-free line and one of our professionals will be waiting to guide through the entire process.
Once you have filled out our form and you have met all the stipulations required of you, your pre-approval is made available to you online.
You can download this at once and begin your shopping! We have tons of dealerships all over the US. This makes it easier for you to have the exact design or model of the truck you desire.
The pre-approval gives you the right to go in to shop just like everyone else, as a cash buyer.
Conclusion For Truck Financing
Truck financing with bad credit is an option – you now know how easy it is to get your truck financed with Car Loans of America.
Our knowledgeable customer service team is readily available to answer your questions and assist you best they can.
Whether you’re trying to lower car payments or understand how bad credit car loans work, we’re here to help! Apply online now to get your truck loans with bad credit today!