SC Car Dealerships That Will Approve You for FinancingJuly 22
Car dealerships that extend credit to consumers themselves instead outsourcing financing are gaining extreme popularity in the United States. It’s really no mystery as to why. These locations can offer bad credit auto loans, and nearly 200 million Americans are estimated to suffer from credit problems. Since the economic recession hit, that number is only climbing. With layoffs and a seriously dismal job market, people are falling behind on payments, damaging their credit, and finding a harder time getting approved any kind of credit.
These dealerships fall under a number of names. One of the most popular of them refers to how they operate: your job is your credit auto loans. This refers to the fact that these kinds of car lots discount credit score in favor of capability, or more specifically, income, when it comes to the decision of whether to extend credit to a customer or not. South Carolina residents have an average credit score of only 665. This is a full 15 points below the national average, and this means that many SC residents will have trouble getting approved for low rate auto loans, let alone getting approved at all.
Your Job is Your Credit car lots have both pros and cons, and you should definitely understand both before moving forward. Basically, there is one very big advantage, and several smaller disadvantages.
The main advantage is that they offer a way for consumers to get approved to finance a car. Plain and simple. And we’re talking about bad credit shoppers who could not get approved otherwise, and would simply be unable to get a new car unless they save up long enough to just go out and buy one.
The disadvantages are many. They include high cost (in terms of finance rates), inconvenience (weekly installments and paying in person), and cars with lots of miles and wear-and-tear. It’s important to check out any your job is your credit auto dealers in South Carolina on the internet or by word-of-mouth to ensure that the establishment in question is a reputable one. As you well know, used car dealers are notorious for ripping people off. Don’t be victimized. Do your research and don’t sign anything without having a second pair of trusted eyes take a look at the agreement.
22 Jul 2010 | 11:09 am | Automotive
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