In this modern day, the Internet has altered the way consumers purchase vehicles. Web sites such as www.FederalAutoLoan.com help to match credit challenged consumers with dealers that specialize in a wide range of credit options. Many of these are not “buy here-pay here” companies. Unlike them, these dealers work with a variety of lenders that offer some advantages over “tote the note” dealers. These advantages may include:
1. The ability for the consumer to select a car or truck from a much larger inventory with greater options.
2. Requirements from lenders that make certain that the vehicles are either new cars or newer used cars with lower miles.
3. A significant number of vehicles in the inventory that are eligible for service contracts. These can often cover the vehicle for the entire loan term, helping to avoid potentially devastating repair bills should there be a problem with the vehicle after its been purchased.
4. Reporting of loan and payment history to the credit bureaus so you can raise your credit scores and help to re-establish your credit.
