Before you start worrying that your scores are too low, it’s important to understand that most people think they have poor ratings when they aren’t. Therefore, it’s best that you look at your reports and scores first before thinking that you can’t get a loan. If, however, your scores are that bad and you know that a regular financial institution won’t be able to help, bad credit car loans in Normal OK could help you.
What They Are
Bad credit car loans in Norman OK are considered to be a subprime or near-prime loan, usually with a higher interest rate than standard options. The term varies depending on which lender you choose but usually falls within 36 to 72 months of repayment, though some companies may offer a term of eight years or more. However, just keep in mind that the longer the term, the more you’ll pay in terms of interest over the life of the loan.
They may also offer two types of financing, one for used vehicles and one for new ones. Likewise, they may be able to help you if you’ve recently gone through bankruptcy, where no traditional lender would.
What You Need
The requirements for these loan types depends on the lender, but you will need to be employed and have proof of employment by providing at least two check stubs. You’ll need to find out the requirements to apply, and may be able to apply for pre-approval online in a matter of minutes.
Likewise, the company you choose may work directly with dealerships in the area, which can help you even more. You’ll be pre-approved and can search for vehicles that fit your needs in one spot. Bad credit car loans in Norman OK can help you get back on your feet. Visit The KEY now for more information. Like us on Facebook to get latest updates.