{"id":2853,"date":"2011-10-11T15:42:40","date_gmt":"2011-10-11T15:42:40","guid":{"rendered":"http:\/\/blog.njstateauto.com\/auto-loans-financing-news\/fewer-car-financing-hurdles-for-those-with-bad-credit\/"},"modified":"2011-10-11T15:42:40","modified_gmt":"2011-10-11T15:42:40","slug":"fewer-car-financing-hurdles-for-those-with-bad-credit","status":"publish","type":"post","link":"https:\/\/www.njstateauto.com\/blog\/fewer-car-financing-hurdles-for-those-with-bad-credit\/","title":{"rendered":"Fewer car financing hurdles for those with bad credit"},"content":{"rendered":"

Consumers who have a credit score that is not as good as they want need not worry – there are still plenty of auto loans to be had. Recent statistics from Experian's Automotive Credit Trends Report showed that new car loans for people with subprime scores increased by about 22.4 percent, Fox News reports.<\/p>\n

If you have a deep subprime score the news is even better with a 44.1 percent improvement. The statistics are indicative of a larger trend, the news source reports, with the average credit score of a used car loan recipient dropping by about eight points.<\/p>\n

The shifting trend is not surprising however given the amount of people with subprime and deep subprime credit scores. Surveys have shown that about half of consumers have scores that qualify as below prime.<\/p>\n

At New Jersey State Auto<\/a> Auction, your credit history is not an issue and we offer guarantied credit approval regardless of whether you have good, bad or no credit. Additionally, we have all the big banks, credit unions and sub-prime auto lenders to suit your needs.<\/p>\n

While New Jersey Auto Auction<\/a> provides consumers with automatic approval that does not mean that you should not ignore the benefits of good credit. Luckily, getting behind the wheel of a used car and regularly paying off the loans is a great way to boost your credit score if it's below where you want it. Additionally, if you have no credit history to speak of, an auto loan is a great way to start one.<\/p>\n

According to Fox News, the average amount financed on a used car is about $17,000 over a five-year term. This could result in a wide spectrum of monthly payments, but analysts say they range from an average of $429 to $359, depending on the interest rates.<\/p>\n","protected":false},"excerpt":{"rendered":"

Consumers who have a credit score that is not as good as they want need not worry – there are still plenty of auto loans to be had. Recent statistics from Experian's Automotive Credit Trends Report showed that new car loans for people with subprime scores increased by about 22.4 percent, Fox News reports. If […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"yoast_head":"\nFewer car financing hurdles for those with bad credit<\/title>\n<link rel=\"canonical\" href=\"https:\/\/www.njstateauto.com\/blog\/fewer-car-financing-hurdles-for-those-with-bad-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fewer car financing hurdles for those with bad credit\" \/>\n<meta property=\"og:description\" content=\"Consumers who have a credit score that is not as good as they want need not worry – there are still plenty of auto loans to be had. Recent statistics from Experian's Automotive Credit Trends Report showed that new car loans for people with subprime scores increased by about 22.4 percent, Fox News reports. 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