Bad credit car loan buyers have two weeks left as all three domestic automakers are offering big incentives to current Toyota owners to make a switch.
Our history
At Auto Net Financial we realize that most bad credit car loan consumers will end up purchasing a used car, for the most part due to the fact that they are less expensive. We’ve also spent a number of years focusing on consumers with bad credit and helping these same customers raise their FICO scores and reestablish their car credit by financing a vehicle with a bad credit auto loan.
But even though the majority of new cars usually won’t fit the pocketbooks of bad credit car loan buyers, there are a number of affordable new cars that, with the right new car incentives, will fit into many bad credit car loan programs. General Motors, Ford, and Chrysler are among the manufacturers who sell new cars that work in two important respects: many of their models are affordably priced and, since they are new vehicles, each one comes with a comprehensive new car warranty.
Toyota’s recent issues
Two weeks ago, as the Toyota recall firestorm reached a crescendo, General Motors and Ford Motor Company announced new car incentives aimed squarely at current Toyota owners. A week ago Friday, these two companies were joined by Chrysler.
It should also be noted that even bad credit auto loan buyers can qualify for these incentives.
General Motors incentives
For bad credit car loan buyers who currently own a Toyota and plan on trading it in, General Motors is currently offering an additional $1,000 toward the purchase of a GMC, Buick, Cadillac or Chevrolet vehicle with the program due to expire on March 1st, 2010.
Ford incentives
For credit challenged customers who currently own a Toyota and will be trading it in, Ford is currently offering an additional $1,000 toward the purchase of any Ford vehicle, except the following models: F-150 Raptor, new Taurus SE sedan, Edge all wheel drive models and the Shelby GT500 and KR variations of the Mustang. The Ford program runs through March 1st of 2010.
Chrysler incentives
For current bad credit customers hoping to buy a new Chrysler, the company is offering current Toyota Sienna, Tacoma and Tundra owners the opportunity to receive an additional $1,000 trade-in bonus if they purchase any new Chrysler, Jeep, Dodge car or Ram truck.
The bottom line
At Auto Net Financial, we feel it’s important that you make the right choices when it comes to a bad credit car loan buying decision. Those choices include finding the right dealer and the right car to help you reestablish your auto credit. Any of the affordable models from one of the manufacturers listed above, with the additional $1,000 in customer cash, will make a bad credit car loan more affordable, while keeping interest costs down.
For more information on the bad credit auto loan process, please visit our web site at www.autonetfinancial.com.
