How I Got A Poor Credit Auto Loan, And You Can Do It Also

You can get poor credit auto loans, even after foreclosure and bankruptcy, they can be expensive, and I will explain this and show you how you can get a better deal if you clean bad credit.

2 years ago I was let go from my job and had to foreclose on my house. With repossession of my auto coming close I looked into bankruptcy and since I could not afford to pay for it I lost my auto. Upon receiving a new job I filed for bankruptcy to stop the constant calls and nagging and try to get a fresh start. A few months after the bankruptcy I was able to get a poor credit auto loan. I will let you know how you can get yours also.

Making on time payments is very crucial to your and my credit. I got a credit card and used it for needed items like groceries and paid it on time to help reestablish my credit. Even a short time of paying bills on time is good to help get that poor credit auto loan.

Pay down balances; paying down your account balances is the 2nd most important in improving your credit. I only had the credit card so I made on time payments and kept my balance very low.

Be responsible financially; by saving money to use for my down payment I showed I was capable of managing my money wisely.

Other referrals; I got a referral from my landlord that showed I was paying my rent on time even through my layoff period. You can also get referrals from your Phone Company or utility companies. Anything you have that shows on time payments will greatly help in getting a poor credit auto loan.

In just months I was able to go to a well know dealer who dealt with poor credit auto loans and get my loan. I had to explain why I had poor credit and ended up paying high interest but I drove away with a car.

One thing I did not know about is we can put a 100 word statement in our credit files. With this they would have seen my explanation as soon as they saw my poor credit and I would not have had to do so much explaining myself.

If you pay by the due dates, reduce the balance on your accounts, use your money wisely, request referrals and have accounts of why you had credit problems then you will be able to get your poor credit auto loan.

After losing his job, his car, and his home, Alex Nebwalz didn’t give up. He fought hard to regain his life and his credit. Now, after 2 1/2 years he has repositioned himself and writes about it at his website cleaningupcredit.netwhere he writes about how you can improve credit report, get mortgage loans for bad credit, the poor credit auto loan and how to clear bad credit.