For Americans, the issue of transportation is the utmost importance, in some cases representing the key factor for getting or having a job. The public transit is not the solution in many cases because access in suburban job sites is limited. Sometimes, suburban jobs represent the only employment for persons with limited mobility, in order to work, be paid and survive.
People who are working in the suburban areas are not earning as much their counterpart in the urban cities, and because of their low income they will have many difficulties receiving any car financing or auto financing. It is all about good credit, bad credit and how much you are earning – Getting approved for loan can come down to as simplest of thing such as your family income or the household income. A person who is of medium or high-income earner will have no problem in getting a car loan for a decent car. In comparison, a person who is earning the minimum salary will be stopped by many barriers from his or her quest for a car loan.
In order to obtain a car loan, a person will need to fulfill all the professional and financial requirements. In most of the cases, as stated before, a good job can make the difference. Based on the persons asking for a loan, their credit score can define whether that person can get or not get the car loan approval. In some US cities, the dealers will offer car loans without any warranty or security, just to encourage and stimulate the people to obtain cars and to get car loans.
In the past recent years there have been created and developed a high number of organizations (more than 150 nonprofit organizations), which are offering low-income car ownership programs …Read More