Auto Loan Purchase Contracts

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Auto Loan Purchase ContractsIf you are in the process of getting an auto loan with good or bad credit you will want to make sure that you go over the proper checklist so that your deal goes over well. There are many people that are not going to know what to look for before signing the loan documents especially if you are dealing with something a bit risky such as bad credit used car loans. If there is anything you should be very careful about and double check on it will be auto loans.

The Actual Contracts

Now when it comes to auto loans when you go in to sign the contract that is it and there will be no second chance. Most states are not going to have any kind of cooling off period that you go through so you will need to be aware of everything before walking in, so here are things that you should be looking for:

  • Selling Price - Make sure this is what you agreed to and that it is nothing more.
  • Amount Financed - This should be the amount of the selling price with cash down payments and trade in equity included as well.
  • Contract Term - This amount in months should equal out to what you and the dealer agreed to.
  • Interest Rate - It should match your quoted interest rate.
  • Monthly Payment - This is the amount that you are going to pay each month and once again needs to match what you and the dealer have discussed.

If there is anything that doesn't match what you have discussed then you should walk away instead of signing the contract. Make sure that when you get copies of every document that you signed from the dealer that you also get them to sign the copies as well.

Possibilities with Bad Credit

Having bad credit you might quite possibly have trouble with getting approved for a bad credit auto loan then let us help you out. We know it is not the easiest thing in the world to find and we make sure that it happens quickly and easily for you. With one application it can all get started, but make sure that no matter where you get the loan from that you go over the contract to ensure that you do not get hurt. Most dealers are going to be reliable, but it never hurts to protect yourself.

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Do you meet the basic qualifications?

  • At least 1 year with current employer
  • A minimum income of $1,500 per month
  • No repossesions within the last year
  • Any bankruptcies must be discharged
  • Money down may be required, but not in all cases
  • Must be a current resident of the U.S. or Canada