Are you doomed to riding the bus or even worse, buying a crappy car because you have a few blemishes on your credit report? Not if you take advantage of the power of the internet and apply to a lender that offers second chance auto loans. Many lenders offer such programs to people that have suffered due to the current economy. It doesn't matter if your credit score was nicked due to temporary unemployment, divorce, health issues or other reasons. If you have a job and are at least 18 years old you can qualify to buy a new or used car regardless of your credit history.
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Many people have lost their jobs over the last couple of years. Because of this, most people's credit scores have been damaged by late payments or missed payments. Lenders recognize this and have come up with second chance auto loans to help you get back on your feet (or in this case, back in the driver's seat). The lenders know if they exclude everyone that has had credit issues recently that they would not be making very many loans. They only make money be lending money, so they will do everything they can to get you approved for a loan as fast as possible.
Lenders also understand that the economic situation has put additional stress on many small companies forcing them to lay off employees. These additional layoffs have caused many personal relationships to become strained and may have even led some to file for divorce. The sudden loss of that second income has caused many people to no longer be able to pay all of their bills.
As people have lost their jobs, many have found that they can no longer afford health insurance. Even though your old employer will offer to let you pay for your own medical insurance after you are no longer employed, it is usually so expensive that you can't afford it. This has led quite a few people down the road to financial ruin as their medical bills have piled up. One serious illness can wipe out a lifetimes worth of savings very quickly.
As the economy has slowly begun to improve, many lenders came up with second chance auto loans as a way to help people rebound right along with the economy. They can factor in the economic situation with your credit score to help you qualify for a loan so that you can buy a new or used car. Helping you buy a car helps the economy continue to improve so it is a win-win situation for everyone.