No credit check car loans…pros and cons?

Friday, July 24th, 2009 at 22:02

Analou asked:

No generic drugs without prescription credit check car loans...pros and cons?

Additional Details
I saw several websites that offer no credit check loans...not talking about "buy here/pay here" deals (but enjoying the info otherwise)

ex: www.rapidcarloans.net

Reply:

Pros - it allows someone with bad credit to purchase a car

cons - the interest rates are extremely high and a $1000 car could end up costing over $5000 by the time you have paid it off.
Companies who offer loans under these conditions do not hesitate to repossess your car if you are even one payment behind. They have heard all of the hard luck stories before, and true or not they don't care.

Finance your car here onsite if you need help buying one of these beauties :)