Raleigh, NC (PRWEB) March 12, 2013
Pre-Approval Auto Loan (http://www.preapprovalautoloan.com) has announced exciting new numbers that reflect their continued efforts to improve the financing process for clients with subprime credit. Last week, analysts found that over 90% of applications for bad credit car loans were placed within their lender network. The company maintains an extensive array of partnerships with dealers and lenders across the country who specialize in subprime auto financing. When a user submit his or her application, it immediately enters the company's online application placement platform, where it is matched with a dealer or lender based on a multitude of factors.
The company has been working diligently since the final quarter of 2012 to enhance this process for applicants through the addition of more and better lending companies and dealerships. Consumers who need an auto loan with bad credit have a notoriously difficult time getting approved. "The addition of more lenders and dealers in our network translates directly into a benefit for our clients," said one company VP. "With approval rates for subprime credit quite low, the range and depth of our network improves the likelihood of approval." He went on to say that ideal applicants have a verifiable monthly income of at least $1500, and no repossessions on their record from within the last two years.
Once an application for financing has been placed with a dealer or lender, the consumer is effectively pre-approved. They must provide additional details, such as proof of income, and work out the loan details with their lender. However, the most challenging part of the process has, by this time, been surmounted.
About Pre-Approval Auto Loan: a trusted name in the financial services industry, Pre-Approval Auto Loan allows car-shoppers to get pre-approved for financing from a lender or dealer in their area. This process is especially advantageous for those with bad credit, because the humiliation of a credit denial on the dealer lot is avoided. Interested parties can view their website here.