Are you wondering how a maintenance program from a manufacturer could possible help people who need a bad credit auto loan? Well, hang on, here comes the explanation.
One issue that has repeatedly led to slow or late payments as well as repossessions is expensive car repairs. Frequently, if a repair is too expensive to cover and the car does not run, borrowers will stop paying for it. Who wants a car that doesn’t run, right? The Mazda Total Advantage program will help to keep the cost of repairs down.
How does that help facilitate subprime auto loans? Lenders know that loans can be defaulted on for expensive repairs. People who need a second chance auto loan are viewed as more apt to default. By eliminating one common cause for default, the borrower could be seen as more creditworthy according to some subprime auto loan lenders. That is how Mazda’s Total Advantage Program could help facilitate auto loans with bad credit.