While consumer credit reports
have gradually improved throughout the last 12 months, many Americans are still in a position of lackluster credit. This translates to substantial issues when trying to acquire a loan, mortgage, finance a car and much more. To meet the demand of bad credit consumers, though, several industries have offered new opportunities.
Auto Credit Express recently reported that used cars are a strong choice for buyers who need financing, though have poor credit. The news provider explained that in the past, buying a used car was considered a risky pursuit, while new car sales were far more popular. Now, with the wealth of used automobiles on the market, used cars are often the safer choice for those with bad credit. Further, the firm asserted that the quality of automobiles, especially in terms of the ability to maintain drivability for a longer period of time and for more miles, has improved the choices of used vehicles. Many used car dealers offer certified pre-owned cars, which often have strong warranties similar to those of a new car. With auto industry lending rates at historic lows, consumers with bad credit or no credit can now capitalize on affordable financing options.