Tag Archives: subprime credit

Buying a Car with Bad Credit 3

We’re reviewing the four things that you need to provide to a dealer in order to get a car loan if you have bad credit.

3.  Working phone – This must be a landline or contract cell phone from a national carrier, in your name. Prepaid cell phones can’t be used. As lenders sometimes say “No phone, no loan!” This is so they can reach you if something happens, such as missing a payment.

from Auto Credit Express

Buying a Car with Bad Credit 1

We’re reviewing the four things that you need to provide to a dealer in order to get a car loan if you have bad credit.

  1. Proof of income – This must be in the form of a computer-generated check stub. It must be current, show year-to-date income, and your wages must be reported on a W-2 form at the end of the year (most subprime lenders have a problem with income like SSI and disability).
from Auto Credit Express

Over 1/2 US Consumers w/Subprime Credit

2014-03-05 BLOG

CFED (Corporation for Enterprise Development) released their 2014 Score Card Deep Five Report, a comprehensive evaluation of the relative financial security of the American public.
Results from the Score Card reflect that 56.3% of all US consumers do not qualify for credit at “prime” rates.  With an average annual pay of only $40,309, consumers in the state of Mississippi account for the highest percentage of consumers with subprime credit at 69.1%.