How to get Guaranteed Auto Loans for Bad Credit
- August 12, 2021
- Uncategorized
- Posted by mangoboss
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There are a lot of places offering guaranteed auto loans for bad credit. Often, the entire process looks too good to be true. The question is: Is it possible to guarantee yourself an auto loan with 100% approval?
The short answer is yes, but it will come with conditions.
If a lender or dealership via their private lending program is offering you a 100% approval regardless of your credit score, it likely requires a massive down payment. Oftentimes this down payment won’t be affordable and isn’t a realistic option.
One commonly recommended option is exploring multiple options, but this comes with one large disadvantage. The more people you shop with for approvals, the larger chance you’re giving yourself at harming your credit.
Here are ways to get guaranteed auto loans for bad credit and how we at Drive Mango can offer a solution.
How Other Agencies Guarantee Auto Loans for Bad Credit
Guaranteed auto loans for bad credit require a large down payment and do not offer you the best interest rates on loans. A sure fire way of guaranteeing yourself the lowest interest rate possible is to work with one finance manager that has access to multiple lenders, programs and inventory.
For example, if you reach out to 4 different dealers or financers, every one of them will harm your credit, apply for new credit, and try to secure financing for you within the same set of lenders. Learn how to properly get a car with bad credit or no cosigner from our blog .
Lenders look at this in a negative light because they see multiple applications from numerous dealers.
How Drive Mango Guarantees Auto Loans for Bad Credit
Drive Mango works in a different light, instead of shooting your credit information around looking for which lender will finance you, we strategically apply for financing in a way that doesn’t harm your credit score while securing the best rate for you helping you get guaranteed auto loans for bad credit. We offer you the best of both worlds. Not only do we have access to internal finance programs, we also help you come with the buying power to get a better deal without harming your credit score.
The good news is, Drive Mango works with multiple dealers, inventory lots, and wholesalers. At the same time, Drive Mango has relationships with multiple lenders and in-house programs offered at our partnered dealers. It means is that you get the best of both worlds when using Drive Mango because we not only have access to multiple lender programs, we have access to the inventory at a lower cost. If you are someone with lower than average credit and is looking for a bad credit auto loan, we are your one stop shop. Instead of shopping with multiple dealers and lenders, we offer all options without harming your credit score.
The Verdict
Guaranteed auto loans may seem like the best option if you are looking for a bad credit auto loan. The truth is, if you work with the right finance manager, you can secure yourself a much lower rate and save thousands of dollars on your next car loan.
How Drive Mango Can Help
Wondering how we work?
Our Simple Process is simple:
- Fill out our Survey
- Get Approved
- Take Delivery of your New Car
