Living without a car is tasking especially if you are living in Indianapolis where most of its residents are known to live and work on opposite sides of the city. How is that going to work out for you? Let’s say hypothetically, this situation makes you unable to go to all the places you would want to, you’ll have your boss constantly harassing you for being late, you will be known to miss birthdays, anniversaries and you may probably not have a social life. Amidst this struggle, it seems like your efforts aren’t enough and owning a car would turn things around for you. What then is your reason for not being mobile? Is it because you do not have the finances for it, is it your credit score, are you in debt or do loan companies shut the door on you whenever you approach. Whatever the case Car Loans of America will figure it out with you, and Here’s how:
About Car Loans of America
Car Loans of America is a registered financial institution that issues direct car loans to citizens of America for the purpose of purchasing and owning their cars. Car Loans of America is more like a credit house that you can relate with, where we offer car loans to people who need it. Here we are not just in the business of issuing loans; we are in the business of bettering lives by equipping people with the support to make their dreams come through. Our loans are very flexible, and they offer total coverage for people with various credit histories and scores.
What we offer
Car loans of America is a registered financial institution that was established and designed to alleviate the burden of purchasing a car. We provide bad car loans to individuals within America who have bad credit scores. We also offer auto loans to individuals who only want to complete their car payments. We do this and so much more. All our loans are interest rate friendly and our terms negotiable. At Car Loans of America, we understand that you are under enough financial stress and we want to carry some of that burden so you will not need to.
What does a bad car loan mean?
Now, a bad car loan is one in which the recipient is charged with an obscene rate of interest. It is one in which the recipient pays more than is necessary or makes more payments than he/she earns. It is a loan that was gotten to make car payments that ended up being burdensome. Now before we continue, let’s highlight the three branches of every loan. Every loan has:
- The Principal
- The Interest
- The Loan term
Without much explanation, the Principal is the monetary value that is initially borrowed from the bank or credit institution. The interest is the number of charges that this credit house adds to the principal on reimbursement. It is important to note that interest rates will differ depending on the principal, terms and conditions applied, the type of loan and sometimes the individual’s credit scores. Lastly, the loan term is simply the duration or slot of time during which the loan recipient must make and conclude all payments.
Since this is to alleviate your car troubles, you will be going for a car loan. When asking a for a car loan, most credit companies will take some things into consideration. One of this is your credit score.
This is a numerical representation of your credit history. It is a value that is given by the credit bureaus (Equifax, TransUnion, and Experian) as a tag on your financial stance. These bureaus make use of FICO which is a calculator, together with the individual’s credit records that is gotten and compiled by institutions like banks, hospitals, schools etc to compute credit scores. Credit scores are known to range from 0-850 with any score below a 300 regarded as bad credit. It is important to note that when dealing with credit scores, one has to be very careful. In the event when one needs to achieve a perfect credit score, he/she must also keep records of every transaction or payments that he/she has ever made. This is done in case the credit bureau makes any omission of payments. An omitted payment is counted as a null payment.
As earlier stated, a bad credit score is anything below a 300 on the FICO chart. A bad credit could be as a result of so many factors. It could be as a result of the economic decline in Indianapolis or the area you reside in, bad investments, multiple debts or even filing for bankruptcy protection. Sometimes these factors are not always the bearers fault so why should they be castigated. A bad credit score has many implications. One of it is that the bearer gives the impression that he/she cannot afford to make future payments and because of this is grouped as a bad risk. Persons who have bad credit scores are usually either shunned by credit companies when they approach for a loan or they are granted the loan, but with an insane interest rate to discourage them. But out of desperation, In the case in which one accepts such a loan, he/she runs into more debts.
What makes us different
What sets us apart from the competition is that at Car Loans of America we are thrilled to work with all clients irrespective of their credit history/scores. This indeed is our unique selling point. We offer bad credit car loans to individuals within and outside Indianapolis for the purpose of purchasing cars even with their bad or inexistent credits. We also offer auto loans to individuals with or without bad credits who need the financial aid to make or complete their car payments.
At Car Loans of America, we go that extra mile of granting you a direct bad credit car loan and also ensuring that you make your most preferred car choice as we are affiliated with several car dealerships and insurance companies who will be glad to take you under their wing and help you find your dream car. Also, Car Loans of America takes the time to assess your current holdings and financial situation so as to design a loan plan that will be very beneficial to you. We treat each client as uniquely as possible because we want them to know that they are safe with us. Now you may ask how we manage to issue loans to individuals who are considered as bad risks and still manage to be the leading credit institution in America, well here is how.
How we work with bad credits
Well, this is after all our target market, hence we put in a lot of time and effort into consideration of things. Many credit and financial lending institutions take the credit score of an individual as criteria when issuing out loans. Some even use it to calculate the bearers interest rates. At Car loans of America, Car Loans of America we do not take priority in your credit score or history, we want to give you a fresh start and hence, the past is not invited. Now the only thing we do consider is the individual’s current employment status or proof of income. This is just to assure us at Car Loans of America that you are earning and have a steady source of income and therefore have the capacity and ability to reimburse the loan.
In Indianapolis, Indiana’s capital city which also happens to be its largest city, we have garnered a reputable customer base. Our services are very customer friendly, and through this, we have gathered a large number of satisfied customers all over Indianapolis. Still, have doubts, head to our website and go through our customer satisfaction ratings before starting your application process.
How to get a Car Loans of America bad credit car loan
Before applying for our bad credit car loan, there are certain things we expect our clients to already figure out, don’t worry if you haven’t we will still help you. They are:
Choose your weapon
We only expect you to pick out the car you would want to purchase when granted our loan. This is to facilitate the process by enabling us to determine the amount of money you would require and also fix your interest rates. At Car Loans of America, we ensure that the client still has a substantial amount of money in their pockets even after purchasing their cars. As mentioned before, we have partnerships with car dealers who will answer any questions you may have. Questions like what is its horsepower, warranty, tank volume, what advantage it has over other cars and if it is an already used car what is its mileage and does it require any repairs or spare parts and more will all be answered by the dealer. We do this to prevent any form of later regret.
How will I pay for this car?
After deciding on the type of car you want, the next thing is to figure out how you will fund it. Luckily at Car Loans of America you will not need to, at least not immediately. We offer full car loans to make full car payments or down payments depending on your preference, we also offer auto loans to complete car payments. Whatever your situation or reservations are, Car Loans of America will help you. All these loans go hand in hand with cheap rates of interest alongside the clients most preferred terms. All loans go directly from us to you via cheque or bank deposits, we do not indulge in the services of the middleman as this slows down our loan processes.
After picking out your car and deciding on how you will fund it with Car Loans of America, (CLA) you will need to start your application process. Our application process can be done online via our website or through our offices. Either way, you will need to pick up our Car Loans of America bad credit car loans application form, fill in your correct details, have it approved and in 24 hours you may just be driving your own car. Our application process is swift and devoid of glitches. We are very straightforward and transparent during all transactions, this is why we are topping the market.
After your application is completed, we will now inform you of our terms and conditions.
This is just a documented proof that both parties are fully aware of all conditions that are involved in the loan. At Car Loans of America, we have just two.
- The APR
At Car Loans of America your APR is simply your interest rate which will be added to the principal on reimbursement. The APR includes all charges incurred by us at Car Loans of America through the course of granting you this loan. This could be legal or transportation charges. We go out of our way to make this as low as possible because of your bad credit score so that you will not feel choked with financial responsibilities.
- The Loan Term
As defined earlier this is only the duration of time in which the client is expected to render and complete all payments. It is important we educate all clients about different loan terms (Short or long) for clarity. Short term loans are refunded over a short period and in large installments while long-term loans are refunded in a wide span of time but in little installments. The client is then allowed to pick his/her preferred terms.
In the current economy, owning your car can be a farfetched goal. Especially if you have been considered as bad risk and reside in Indianapolis with all its magnificence and population. With Car Loans of America, you will not need to think about the burden, we will carry it for you so that you can go on with your daily activities hitch free. Our loans are amazing, our interest rates slim to none, our terms negotiable, our process swift and our customer ratings topping the chart. Choose Car Loans of America today, chauffeur your life today.