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Beware of Spot Deliveries! | Auto Credit Express

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A spot delivery is often considered a scam technique that some dealers use to get you to take delivery of a car immediately after you agree to a deal. However, just because you agreed to a deal verbally and put some cash down doesn’t mean that things can’t change or that the vehicle is yours to keep.

Spotting Spot Delivery Scams

Beware of Spot Deliveries!Spot deliveries, also called yo-yo financing, simply means that you drive off with the car before the financing process is done. This is problematic because you can sometimes drive home with a vehicle, only to get a call later that your auto loan application was rejected.

Once you get that call that your financing didn’t go through, one of two things tend to happen next:

  1. You have to draw up a new contract with the lender, typically with different terms than you originally agreed to.
  2. If you don’t want the new terms or can’t afford the payments, you’re forced to return the car.

This can be an emotional rollercoaster, and it’s extremely inconvenient. You get to drive off with your next vehicle, elated that you were tentatively approved, only to find out that you must return to the dealership to start the process over again.

Often, bad credit borrowers can be victims of a spot delivery scam. Once they hear they can take the car home, it feels like a done deal and that everything is sorted. When you’re struggling to get an auto loan approval, some borrowers take what they can get if they need a vehicle quickly.

This is the yo-yo part – going back and forth between an approval and a denial, and from home back to the dealer until something can be finalized.

Avoiding a spot delivery scam is simple: just don’t drive off with the car until all of the necessary paperwork is completed and finalized. This means verifying that you’ve signed the title, the financing documents, and the sales contract. Don’t put any money down on a vehicle until your financing is approved, and don’t drive away from the dealership with any documents left unsigned.

Additionally, bad credit borrowers can explore other financing options if they’re struggling to get an auto loan approval.

Trouble Getting an Auto Loan?

If you’ve had issues finding a lender that can work with your credit, consider special financing. Special financing dealers are signed up with subprime auto lenders that are equipped to handle all sorts of unique credit situations like a past repo, bankruptcy, or poor credit. Instead of basing their loan decision on credit score alone, they examine the many parts of your financial health to determine your ability to take on a car loan.

After you submit your items to a special finance dealership, they’re sent off to one or more subprime lenders that see if you’re ready for an auto loan. Based on your income and overall stability, subprime lenders tailor a car loan (if you qualify) to your situation.

This means approving you for a monthly payment that fits your budget, also called a payment call. Subprime lenders see if you qualify before you pick a vehicle – not afterward. The financing process is done before you take a car home, unlike a spot delivery.

Subprime lenders also report their auto loans to the credit reporting agencies, giving you the chance for credit repair. With an improved credit score, you can have more options for new credit, and hopefully qualify for a better interest rate and possibly a higher loan amount on future car deals. Getting out of bad credit should be a priority, since it can determine so much of your vehicle buying power.

Finding the Right Car Loan

Instead of hoping to run into a dealer that has bad credit lending resources, start with us at Auto Credit Express. We know where special financing dealerships are, and we match bad credit borrowers to them daily.

To get connected to a dealer in your area, fill out our auto loan request form. It’s completely free, secure, and carries no obligation. Get started now!

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Loans Bad Credit Online – Loans Bad Credit Online – Slick Cash loan Announces Quick and Easy Online Installment loan Application with Fixed Repayment Plan – Press Release | Fintech Zoom | Fintech Zoom

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Loans Bad Credit Online – Loans Bad Credit Online – Slick Cash loan Announces Quick and Easy Online Installment loan Application with Fixed Repayment Plan – Press Release | Fintech Zoom

Loans Bad Credit Online – Slick Cash loan Announces Quick and Easy Online Installment loan Application with Fixed Repayment Plan – Press Release

Get loans fast with an online application that takes only a few minutes. There is no credit check or collateral needed to get cash to deal with pressing needs

People run out of cash all the time and they need a loan to do so many things. Getting a loan from most lenders is complicated and it takes so much time and effort.  

Slick Cash loan is proud to announce their quick and easy online installment loan services for anyone who needs money for emergency and other purposes. Even people who have bad credit can also apply and get loans.  

The entire loan process is done online. To get a loan go online and apply; it takes just a few minutes. After submitting the form the applicant gets a quick response with instant approval. Cash is then deposited into the borrower’s bank account within 24 hours.  

It’s all about helping people deal with financial situations; no collateral, no credit check. Depending on the state the borrower is residing in, they can get up to $3,000.  

There are so many reasons people need quick loans. It may be for a medical emergency, paying for tuition, buying groceries, paying for rent, auto repair, and so on. When these needs come there is no waiting. They must be attended to very quickly before things get out of hand. But most cash lenders have a lengthy process that makes it hard to get cash to solve pressing needs.  

Slick Cash loan was established to help people deal with their financial needs effectively. That’s why they have created a simple, easy, and quick online installment loan application process that takes just a few minutes. Over the past few years, the company has helped thousands of people get quick loans to solve current problems.  

Unlike other types of loans, installment loans offered by Slick Cash loan are very easy to payback. Borrowers repay the loan with a fixed monthly repayment plan. Such a repayment plan is beneficial because payments will not fluctuate due to an increase in interest rates. This makes it easy for borrowers to manage their financials and avoid getting into debt.  

Every customer that approaches Slick Cash loan is treated with respect, dignity, and complete attention. Borrowers who have issues can contact their customer care line and are assured they will get a prompt response.  

Media Contact
Company Name: Slick Cash loan
Contact Person: Mark Snow
Email: Send Email
Phone: (888) 200-7445
Address:1125 E Broadway, #545
City: Glendale
State: California, 91205
Country: United States
Website: slickcashloan.com

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Loans Bad Credit Online – Slick Cash loan Announces Quick and Easy Online Installment loan Application with Fixed Repayment Plan – Press Release

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Loans Bad Credit Online – Loans Bad Credit Online – Slick Cash loan Announces Quick and Easy Online Installment loan Application with Fixed Repayment Plan – Press Release | Fintech Zoom

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Bad Credit Credit Cards – FOMO is fueling a homebuying surge that could become ‘a curse’ | Fintech Zoom

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Bad Credit Credit Cards – FOMO is fueling a homebuying surge that could become ‘a curse’

A pandemic, historically low mortgage rates, and record low housing inventory are helping to drive many homebuyers to skip crucial steps to get in on the hot housing market, according to one financial expert.

“You’re seeing people are feeling this urge to hurry up and get something done for the sake of missing out,” Chris Hogan, a personal finance expert and spokesman for Ramsey Solutions, told Yahoo Finance Live (video above). However, he added, “there’s a process we need to follow to make sure buying a home ends up being a blessing more than a curse.”

Read more: Here’s what to do if you plan to buy a house in 2021

Homebuyers can end up getting in over their heads financially if they get caught up in a bidding war. Others may bypass a home inspection only to discover black mold in their basement after they close.

This all can be avoided, Hogan said.

“I really want to caution people on this because I’m also reading stories of people that are living their nightmares,” Hogan said. “Let’s be honest, the goal is not to buy the home. The goal is to own that bad boy.”

A “sold” sign sits on a lot as new home construction continues in Westfield, Ind., Friday, Sept. 25, 2020. (AP Photo/Michael Conroy)

Hogan offered a three-step process to make sure you’re in the right financial position to purchase a home.

Get out of debt: Pay off credit cards, student loans, and car loans.

Build up your emergency savings: Save up at least three to six months worth of living expenses. “That way you have a cushion between you and life happening,” Hogan said.

Read more: Buying a house: What you need to know about home ownership

Have a game plan for your home purchase: For Hogan, that means knowing how much you can spend on your home purchase within his three guidelines:

  • Get a 15-year fixed rate mortgage

  • Make sure your monthly payment is no more than 25% of your take-home pay

  • Put down 10% at the very minimum, but strive for a 20% down payment to have more equity and to avoid paying private mortgage insurance.

“So having these guidelines in place will ensure that you buy a home the right way,” he said, “instead of just jumping the gun because your parents say so or your neighbors did so.”

Janna is an editor for Yahoo Money and Cashay. Follow her on Twitter @JannaHerron.

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Bad Credit Credit Cards – FOMO is fueling a homebuying surge that could become ‘a curse’



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Checking Your Own Credit Report Is Vital | Fox Rothschild LLP

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These are difficult times.  Some parts of the economy have responded well to the pandemic crisis.  Others, especially those in the travel, leisure, and entertainment industries have experienced enormous financial challenges.  Sadly, this sometimes prompts desperate measures.  You should not become an unwary victim of desperate measures.  You are the best person to protect yourself from that.

Yesterday, a local attorney in suburban Philadelphia pleaded guilty to falsifying credit applications using the names and personal financial data of his wife and mother-in-law to tap an estimated $85,000 of credit, which he spent for his own amusement.  He had recently been convicted of taking roughly $90,000 in client money for similar purposes.  He will be sentenced for these crimes next month.  The crimes go back several years.  They are not related to the current economic crisis, thereby proving once again that crime can happen in good times.  However, desperate times (and many Americans are in desperate times) often trigger people to resort to desperate measures.  History has taught us that many times, the first draw on another person’s funds or credit is accompanied by the desire, indeed the expectation, that the taker will “make good” on the borrow.

The second lesson here is that certain vital information like birthdates, social security numbers, even telephone numbers and credit card data can permit theft as easily as the proverbial unlocked door.  In this case, the lawyer acted as his spouse and mother-in-law to open new accounts they never knew about at the time.  Yes, they are victims, and probably will secure release from these debts.  But, the stain of bad credit travels faster than a good reputation and it makes future borrowing a steep uphill climb.

A few years ago the judicial system embarked on a program to demand that documents filed in court be cleansed of data that could be used to steal.  The program is reasonably effective, although many attorneys forget to obliterate things like full account statements and social security numbers from documents filed with the court.  You can help with that process as well by taking action to remove/redact that data before you hand it to your attorney.  Realize that some of those digits need to be preserved because you may have four different accounts with a bank or a brokerage and they need to be distinguished.  Nevertheless, with rare exceptions, lawyers, their staff, judicial officers and the like do not need all of the numbers.  On those rare occasions when they are required, consider providing the information in separate communications.

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