Seattle, WA (PRWEB) October 24, 2013
For many, riding the bus to work or school every day seems like the only option available. A car would certainly be nice to have, but costs seem to render the option practically impossible. Car costs plus loans are extremely hard to deal with, and a loan on top of that with interest only makes matter worse. Finally, bad credit scores affect loan rates and can further increase costs. Credit issues do not actually need to prevent the purchase of a car, however, but there are a handful of concepts to understand prior to moving forward in the buying process.
Two of the concepts that must be understood before buying a car are being addressed by Complete Auto Loans in a recent publication on their site. These are DTI and PTI ratios - two ratios used in negotiating for bad credit auto loan. These two acronyms deal with the amount of debt held by the buyer. DTI stands for “Debt to Income” ratio, while the later means “Payment to Income” ratio. Specific percentages and equations are used to figure these ratios. To read the full publication and view the figures on this topic, visit http://www.completeautoloans.com/dti-pti-ratios/.
The article sums up DTI in the third paragraph when it states, “Simply stated, DTI calculations require you to add up all your outstanding debts, such as your rent, utility bills, minimum credit card payments and all other payments that are sent out on a monthly basis such as student loans or child support payments. This outflow of cash is then divided by your incoming gross cash flow.” PTI is also explained in the article, giving auto buyers the information they need to secure a loan.
About Complete Auto Loans:
CAL provides bad credit auto loans online. Their unique finance platform can accept 100% of applicants, regardless of poor credit or even bankruptcy. By visiting their website, consumers are able to find the ideal loan for their personal financial situation, all through a quick and easy online process.
To apply for an auto loan, fill out their simple form at https://www.completeautoloans.com/apply-now2/.