Carrying on the top, the special financing facilities which they render to dismal card holders is bad credit car financing. These loans are a bit different in comparison to the conventional offered up to general customers. The terms and conditions which apply are also a bit different and to get it one has to follows certain rules. What are those rules? Well firstly they would have to open up an opening savings account.
This account will act as the base of their vehicle loan. On doing so they would be provided an opening bank statement which one would have to carefully put away. The reason behind that is it would have to be presented at the time of documentation. Then comes the step of down-payment. Experts say that it is better off for customers to put-down as much cash as they probably can like say about 15-20 % of the car value as that would make it easier to clear off the loan in time or for that matter ahead of schedule. Then is the step of documentation.
The documents which have to presented are opening bank statement, telephone and electricity bill, last salary sheet (if any), residential address proof etc. Also at the time of signing any forms take a cosigner along and make him/her sign along. As all these aspects are covered, the most important thing to remember is to take the loan seriously and clear it off ahead of its time schedule.