Whether or not you plan on financing your next used car with bad credit used car loans San Antonio TX or a traditional loan you should be aware of the findings of a new Carfax study concerning open recalls
What we do
The company behind our web site at www.autonetfinancial.com has spent many years working with consumers in the Alamo City who have bad credit and helping these same individuals raise their FICO scores and reestablish their car credit by financing a vehicle with bad credit used car loans San Antonio TX.
If you’re wondering how we do this, it’s simple: By filling out our online car loans with bad credit auto loan application and avoiding a San Antonio tote the note dealer, you can begin a new chapter in your life by getting approved at one of our San Antone affiliate dealers for a second chance auto loan. By doing this and paying the rest of your obligations on time, you will then be able to re-establish your auto credit and, at the same time, raise your credit scores.
One other reason many consumers from San Antonio visit our web site is because we’re truthful about what it takes to do this. The process can be an expensive one because of the high interest rates associated with bad credit used car loans San Antonio TX. There can also be other pitfalls along the way as well.
For example, choosing vehicle that’s too expensive can stretch your budget to the breaking point. This can sometimes result in repossession. If this happens, the only remaining choice for most San Antonio residents needing transportation is a tote the note car dealer. It also means that rebuilding your car credit has to be put on hold for at least a year, since lenders associated with auto loans for bad credit will only consider applicants with a repossession that’s more than a year old.
Keeping the credit repair process affordable
When you apply for bad credit used car loans San Antonio TX it is simply not the time to buy your “dream car”. Instead, it’s time to focus on getting yourself back in the game in order to finance your next vehicle at a lower interest rate with the ultimate goal of eventually qualifying for prime interest rates. At this point in time, you should pick the smallest and most affordable car that will fit your needs and save your “wants” for later.
In most cases, bad credit car loan buyers in the Alamo City will choose a used car. Unlike twenty years ago, this is not a bad thing. Over that time, used cars have become much more reliable. Advances in quality control and reliability mean that even the average car can be expected to last at least 100,000 miles, with many vehicles capable of lasting much longer.
Toyota recall
But there is also a downside to choosing a used car. In more than a few instances, you may be inheriting someone else’s problems. Title washing and the lack of a used car lemon law in Texas mean you have to be particularly vigilant when buying a pre-owned vehicle.
We were reminded of this fact recently when Carfax published a report regarding open (that is, uncompleted) recalls on Toyotas as well as other used cars.
“Unrepaired open recalls are an important factor in vehicle evaluations,” said Larry Gamache, communications director at Carfax. “As many as one in three recalled vehicles go unfixed by their owners. It’s a matter of safety - every day these cars are bought and sold and being driven on our roads. Carfax is working with leading manufacturers and consumer advocates to alert people to open recalls and make sure more of these are fixed.”
According to the report, more than 1.4 million used cars that were recalled but not repaired were for sale in 2009. The three states with the greatest number of used cars with open recalls – more than 100,000 per state – were California, Virginia, and, you guessed it, Texas!
Not surprisingly, the report suggests that one of the easiest ways to find out if an open recall exists on a vehicle you might be considering is to view its Carfax vehicle history report. Since the beginning of the program when Ford became the first major manufacturer to share its recall information, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ferrari, Ford, GMC, Hummer, Hyundai, Isuzu, Jeep, Kia, Lincoln, Lotus, Maserati, Mazda, Mercedes-Benz, Mercury, Mitsubishi, Pontiac, Porsche, Saab, Saturn, Subaru, Suzuki and Volvo have joined the party. In addition, Honda and Acura began making their open recall information available through Carfax on July 16.
Vehicle history report is just one tool
Be sure to run a vehicle history report on any used car you are thinking of buying. Although the information contained in the report may be incomplete, it can certainly be helpful in forming a basis for your buying decision.
Other things that you can do to finish filling in the rest of the car’s history puzzle is to have the car inspected by a certified mechanic – preferably one who is an ASE certified master mechanic. This service normally runs between $100 and $200, but consider that money well spent, as a car with hidden damage could cost you thousands of dollars in repair bills and lower resale value.
The Bottom Line
At Auto Net Financial, we specialize in placing San Antonio customers with bad credit with dealers that can help them. Our affiliate dealers are knowledgeable and will treat you with the same respect that they treat every customer that walks through their doors. If you have any questions that our web site can’t answer, feel free to call us on our toll free number.
So if you are serious about getting your credit back on track, why not begin a new chapter in your life by filling out our bad credit car loan application.
