Bad Credit Used Truck Loan With Low Interest No Money Down
Looking for purchase a truck, but may have bad credit. Whether you have good credit bad credit, no credit, very bad sub prime scores, there is always a way to get a low interest on a truck, any truck, and that includes some of the must popular pickup trucks out there: Thundra, Dodge Ram, Ford F150, F250, F350, 4X4, front wheel drives, work truck or tow trucks, there is a way to get a truck with bad credit or low interest rates.
If there are errors, try getting these errors removed. This will give your credit score a bump.
Locate a truck that is not a lemon, and that means getting a mechanic to look it over before you make a final decision. Buy a truck with good resale value, so in the event you would like to use it as tradein there will be a demand for your vehicle.
Buy a certified pre owned used truck. Good used trucks cost considerably less than new ones and sometimes have low miliage
Make a good down payment on the truck. Most dealership will ask you to put down a minimum of 5% of the loan as down payment if you do not have a good credit score. It is advisable to put down 20%.
The larger the down payment, the lower the interest rate will be. Some car buyers put down as much as 50% on the loan. The down payment indicates to the dealer your committment to pay off the loan.
Pay no money down and get a very low interest rate on the truck loan if you have good credit. With a credit score of 700 and above (prime) most banks and credit unions will offer you an APR of about 3%.
Auto manufacturers such as Ford, Toyota, Nissan and others will offer you great rates such as 0% or 1.9% APR on the loan.
Before signing of the contract of the loan, make sure you understand all the particulars of the loan.
- Terms of the loan
- Interest rate
- No hidden fees
- How and where you should send monthly payments
- Warrantees and insurance