FAQS (Frequently Asked Questions)

No. You are not required to pay any fee whatsoever if you choose to use our services and submit an application. There are no hidden charges that you need to worry about. Finance costs and rates will vary according to the lender and your current credit status.
No. You are not obligated in any way to accept a loan or loans offered by any of our dealers or lenders.
Once you’ve submitted your application, we match you to the auto finance partner within our network that best suits your needs. If they approve you, they will contact you directly and assist you in finalizing your loan.
The interest rate you will pay is dependent on the amount of your loan, the type of car you purchased and your credit score. Once your application is approved, you will be contacted by a credit processor who will give you all the details you need to know about your loan, including the interest rate and how much you are expected to pay monthly.
A down payment is usually required unless you have good credit. The down payment amount will vary depending upon the selling price of the vehicle and your credit score.
If your loan is approved by one of our direct lending partners, you will be able to go to any auto dealer and select any car they have that fits within the maximum loan amount. If your loan is approved by one of our auto dealer partners, you’ll need to purchase a car from them. Keep in mind that even if you are approved by an auto dealer partner, they are always able to search other dealerships to find a car that meets your needs.
Most of the time our lender and auto dealer partners can complete the loan process within 24 hours.
We understand that not everyone will have a perfect credit score. This is why we have a vast network of lender and dealer partners that specialize in providing auto financing for all credit situations.
Applicants with extremely poor credit may be required to have a co-signer.
Your personal and sensitive information is 100% safe here at All Credit Car Loans. All the information we receive from you is encrypted and goes through strict industry standard security protocols.

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Getting an Auto Loan With Bad Credit

The subject of car finance comprises the different financial products which allows someone to acquire a car with any arrangement other than a single lump payment. The provision of car finance by a third party supplier allows the acquirer to provide for and raise the funds to compensate the initial owner, either a dealer or manufacturer.

Car finance is required by both private individuals and businesses. All types of finance products are available to either sector, however the market share by finance type for each sector differs, partly because business contract hire can provide tax and cashflow benefits to businesses.

Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore, car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.[1]

Car finance arose because the price of cars was out of the reach of individual purchasers without borrowing the money. The funding for personal car finance is provided either by a retail bank or a specialist car financing company. Some car manufacturers own their own car financing arms, such as Ford with the Ford Motor Credit Company and General Motors with its GMAC Financial Services arm, which has now been renamed and rebranded as Ally Financial. Indirect auto lenders may set risk-based interest rate, or “buy rate,” that it conveys to auto dealers. Car companies may then allow their auto dealers to charge a higher interest rate when they finalize the deal with the consumer. This is typically called “dealer markup.” [2][3] Markups can generate compensation for dealers and some (those of GM's Ally and Honda) have been found to use the discretion to charge consumers different rates regardless of consumer creditworthiness.[2]

The funding supplier may retain ownership of the car during the period of the contract for certain types of financing. This interim ownership by a third party and subsequent leasing to the acquirer is far more typical for business assets than private ones, with the option of vehicle leasing being the major exception for private consumers.

The finance is arranged either by the dealer which provides the car or by independent finance brokers who work on commission.

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Car Finance Explained

Very Bad Credit Car Finance

There are not many people in this world who do not get excited by the prospect of buying a new car. This excitement can sometimes be deflated by the whole finance thing. If your credit history is not so good, or basically non existent, then you may need to find a bad credit car loan.

The fact is buying a car for most people is one of the biggest purchases they will ever make. Owning a car is kind of like a right of passage for a lot of people, and definitely a sign of "coming of age" for most teenagers. Let face it, we all need a reliable car to get around, and most of us would rather drive a nice new or late car than an old bomb. But nice new or late model cars are obviously a lot more expensive than old cars, and that means that most of us will require some sort of finance. The problem is that if you have a poor credit history, or have not had time to establish a good credit record, then its going to feel like the whole financial system has it in for you. Unfortunately banks and most financial or lending businesses do not look favorably on people with no or bad credit history's.

When buying a car, some things to keep in mind may include. If you are planning to buy a used car, get a friendly mechanic to give it a once over. Keep in mind additional costs such as insurance, registration etc. And most importantly, to enjoy the pride and freedom that owning your own car creates.

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