Having Bad Credit is Not the End of the World
The Biggest Problem with Bad Credit Car Loans
in Tulsa, OK and everywhere
Here is what happens. Dealers who do bad credit car loans in Tulsa are charged by their special auto finance lenders a fee to finance the car for you. It is known as a "Discount Fee".
Discout Fees
If you buy a car with bad credit and let a Tulsa Dealer arrange financing for you the discount fee is subtracted from the amount that the car dealer is paid for the loan contract.
$10,000.00 car including taxes
- 2,000.00 Down Payment
$8,000.00 Loan Amount
-$1,000.00 "Discount Fee"
$7,000.00 Paid to dealer
You can see from this example a 9K car cost you 10K. The dealer would have sold you the same car for for one K less if they did not have to pay the fees.
The Insider's Secrets To Buying And Financing A Car: Good Credit, Bad Credit, Worse Credit Or No Credit At All. (Volume 1)
Amazon Price: $19.95 (as of 12/01/2009) 
List Price: $19.95
Used Price: $41.96
Here's my favorite link:
Things you can do besides getting PreApproved
Getting preapproved is the first step before shopping for a car in Tulsa with less than perfect credit. It also stops you from going to a Tulsa Dealers that does buy here pay here financing.
I will be adding more tips here in the future but you can add your own and give feedback on your experiences of buying a car with bad credit in Tulsa Ok.
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Reply
- jamesanderson1346 jamesanderson1346 Apr 9, 2009 @ 1:01 pm
- Great lens. Finance Articles.
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