Credit is tighter, but 1-800-Car-Loan still has lenders making loans at good rates.

Credit crunch? Sorta...

Once you get help finding a loan, you'll see this a great time to be buying a car

Bad News For Dealers Is Good News For You

2009 WAS the worst year for car sales in three decades years. That's great news for you -- because dealers are doing all kinds of things to stay in business. Price cuts and incentives are flying so fast it's hard to keep our numbers up to date. That's what happens when an industry used to selling 15 million cars a year drops to selling 9 or 10 million cars a year.

HERE'S ANOTHER factor in your favor. The fastest growing segment in the car buying world is folks with bad credit. Makes sense, considering the economy and considering the shrinking customer base of people looking for a new car. A credit score that used to draw a frowns at a dealership will now earn a smile. Dealerships that used to not have much experience with bad credit customers are now a lot better at it. They have to be -- it's 40 percent of the market.

JUST AS THE Wall Street gurus rush in and buy during a crash, scooping up stocks and bonds on the cheap, there may never be again the sort of car bargains now on display in your local car ads. Cash For Clunkers came and went, and auto dealers are looking at sales off by a third. So dealers are having to deal.

Don't miss out. A few years from now, today's car prices will seem awfully cheap.

Best Time -- Maybe Ever -- To Buy A Car

• The Federal Reserve will have to raise interest rates if inflation pops up (or countries like China stop buying our bonds). The historically low rates we're seeing currently will not last forever.

• Back in the day, a 10-year-old car was a $100 piece of junk. Nowadays, with the top manufacturers, a 10-year-old car still has years to run -- and prices are sweet.

• When a brand is discontinued (such as Pontiac or Saturn), prices drop because resale values drop. Thing is, if you're going to drive the car until it dies, resale doesn't matter -- and you can take advantage of big price cuts.


How We Increase Your Odds of Approval

The 1-800-car-loan nationwide dealer network is electronically linked to 800 lenders. This is crucial for bad credit car loan customers. A year ago, it took shopping to four banks to fund a subprime loan. Now it's more than six.

Our nationwide car loan network means you can be slotted to the lowest loan rate your credit score will allow. If your credit score is dinged, you're going to pay more, but not a lot more. On a three-year, $10,000 note, the difference between a prime and a subprime rate is less than a daily cup of convenience store coffee. You know you can afford to call or apply online.

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