| Many people with bad credit wonder how they | | | | new purchases only or for transferred balances |
| would be able to get a new car since it is almost | | | | only. Make sure you have read carefully all |
| impossible to get a car loan from the bank. Of | | | | conditions and charges applicable after the zero |
| course there are other financing institutions that | | | | APR expires before signing your credit card |
| might be able to help and although their conditions | | | | contract. Than decide what to do with the card in |
| might not the best ones this is still an option. | | | | accordance with the terms. |
| Another way round the new car financing maze is | | | | If you have 0 APR for purchases only use the |
| to apply for a 0 APR credit card and use it to | | | | card to buy the car. If the zero ARP applies to |
| repair your bad credit, than you can easily apply | | | | transferred balances only, transfer the debt to |
| for a loan. | | | | this card. Make a proper plan to see if you will be |
| First of all let's explain what is a 0 APR card. APR | | | | able to repay the new debt. There is absolutely |
| is a financial term meaning Annual Percentage | | | | no point in taking another card if you think you will |
| Rate. The APR is simply the annual interest rate | | | | be unable to make the repayments as this will |
| or the interest rate that would be charged to | | | | just swallow you deeper into the debt mud. |
| your account over a year. | | | | Taking a 0 APR card is beneficial only of you do |
| Getting a 0 APR credit card is not that difficult | | | | the calculations right. If you are unsure and feel it |
| even if you have bad credit history. When | | | | is too risky to try it, don't. The other option is to |
| applying for this kind of card be alert as the | | | | arrange a meeting with a bank representative and |
| conditions might not be as sweet as they sound. | | | | ask him all the questions that bother you. Usually |
| Most of the banks offer credit cards with no | | | | banks are quite helpful as it is in their interest to |
| annual interest rate for certain period of time | | | | get the money you owe them, so they will help |
| (usually for six months or a year only). Than the | | | | you make a plan and recover your debts and |
| agreed annual interest rate comes into effect and | | | | your credit score. |
| it might be huge. Some banks apply 0 APR for | | | | |