How To Get instantly Approved for a Car Loan with Bad Credit

In this Video im going to show you How To Get instantly Approved for a Car Loan with Bad Credit

What’s going on youtube welcome back to another  edition of currency counts where i cover all   things money from how to save money make more  money side hustles and everything in between   today’s video i’m going to cover a topic i really  didn’t want to cover auto financing if you want   to stay out of debt if you want to get

Out of  debt you don’t want to finance a vehicle ever   but understanding you need to do what you need to  do i’m going to cover this auto financing company   it’s a completely virtual car buying experience   now for the most part everybody’s  with carvanha and what they do let’s  let me walk you through how this works so

You’re  going to go right here you’re going to create an   account enter your info what’s crazy about carvana  is they’ll finance anybody even if you have bad   credit the only thing is is you’re going to have  to put a higher down payment for example let’s   get crazy right let’s go to escalade so let’s  say i wanted to buy

This escalade right here 43   900 so let’s just say 44 000. right off the bat  it’s going to tell you cash price or estimated   estimated financing once you enter all your   personal information so it’s going to customize  financing depending on your credit so right here   it’s telling you your monthly payment 723 cash 

Down so that’s the minimum cash down you need to   give so you get more cash down payment goes down  you can change the the term of your loan if you   want to go 68 months you go lower in your loan  term the higher your payment is going to be so   it’s going to tell you the vehicle price shipping  that’s only if the vehicle is

Not in your area   so if you go to tax title and license it’s going  to give that to you dealer fees never so there’s   never any dealer fees and then your cash down it’s  going to tell you your apr amount finance down   here and then it’s going to give you somewhere  around here or you may have to get started and  

It’s gonna tell you your exact payment one of the  things i like about carvana is the transparency   it’s telling you exactly how much you’re gonna  pay also the inventory and the selection if you   inventory they have on their lot maybe it’s a   big dealership they have several lots but they  still don’t have as much as carvana

Is going to   be able to offer you another thing is when you  get into a dealership one of the first things   your payment to be let’s say you tell them 500   so what they’re gonna do is they’re gonna run your  credit see how much you qualify for and let’s say   you have a 25 000 vehicle they’re gonna balloon  the fees

Extended warranties just a bunch of stuff   that you might not even be aware of if you don’t  go through that multi-page contract and they’re   going to get you to that 500 payment it might  even be more and yeah your payment might be 500   closer to 35.40 because they’re going to get you   as close to the amount you were

Approved for one  way or another and again if you’re not looking   at all the contract even if you do you might miss  something just because of the multi-page contract   the language of the contract here you can browse  inventory from the comfort of your own home   there’s nobody breathing down your neck trying to  pressure

You into buying a vehicle trying to put   you in a vehicle that’s not right for you having  you wait hours in the financing department so back   to carvana here all right so i don’t want to put  three thousand dollars down right let’s just say   there’s a lot of vehicles that you don’t have  to put anything down depending on

The amount you   qualify for so you’re like all these vehicles here  zero down let’s say you’re looking for a certain   type of vehicle what are we looking for f-150  all right let’s see super crew cab right here   30 000 i’d have to put down minimum 500 monthly  payment would be 506 and there is a shipping cost  

Because this is coming from out of the area it  tells you your apr right here and the total amount   finance so let’s go back to the escalades because  i’m an escalade guy so uh lowest price let’s say   i want to buy this one let’s let’s go through  a mock purchase of the vehicle so let’s see get   started all right so we’re

Going to get started  there okay it’s asking you if you have a trade-in   get your offer or if you don’t have a trade-in i  don’t have a trade-in here cash or finance finance   with carvana you can pay cash or you can finance  with a third party so if you’re pre-approved from   a credit union or something like that you can 

Finance with them and still purchase a vehicle   through caravana but we’re gonna finance with  carvana okay so we’re gonna get our financing   terms here all right so my interest rate would be  14.62 that’s crazy high cash down would be 11 g’s   okay because of the amount that i’m financing  trading zero monthly payment and the

Term   your monthly payment includes a 10 discount for  enrolling in autopay all right so let’s continue   here it’s gonna ask you if you want gap coverage  yes or no add gap it’d be an additional 19   per month if you want to add your gap coverage  no thank you so from here they can either deliver   it to your home

Or you can pick it up from one of  their carvana locations customizing basic warranty   has expired you can select the warranty here 39  or 40 dollars we’re gonna go i choose not to add   extended coverage goes over your terms one more  time we went through all this those steps were   super easy so the last two steps is payment

And  review your order and then finalize your purchase   i don’t think i’d be going past this step because  now it’s asking me to make my payment for the down   payment so payment due enter your account info  manually or link your bank account so it won’t   let me go past the step but look at how easy that  was if i was

Actually purchasing this vehicle   so if you are financing a vehicle which i wish   you really want if you can do anything to avoid  financing a vehicle do it but if you are financing   i would go with somewhere like carvana because  everything is transparent the whole experience   is a thousand times better than dealing

With the  actual dealership and there’s really not much more   to say about it between the dealership and carvana  i’d go with carvana hands down so let me get out   of this before something happens and this escalade  shows up in my house so there it is the carvana   auto financing review i hope this video helped you  out

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How To Get instantly Approved for a Car Loan with Bad Credit By Currency Counts