"If you apply now, the Crazy 88 auto loan network will give you the two things you need to drive the car of your dreams! 88 dollars down and 88 dollar monthly payments! People who thought they would never get auto financing in the past have gotten approval on the spot with Crazy 88 auto loan. Apply now and drive the brand new car, truck, van or SUV you have always wanted with only 88 dollars down and 88 dollars a month!"Admittedly, the ads sound pretty good — especially to bad credit consumers. But it′s also important to remember the consumer′s Golden Rule: if it sounds too good to be true, it probably is.
"Apply now! Before you know it, you will be driving the car, truck, van or SUV you have always wanted!"
Just like many ads that promise individuals with bad credit a deal that would be unbelievable even if they had outstanding credit, there is more than a little fine print to the Crazy 88 auto loan. Scrolling down to the bottom of the disclaimer portion of the loan reveals how it is done:
What it means: Your Crazy 88 auto loan credit application must be approved by the lender, so not all applicants are always approved. Even if you are approved, it is up to the dealer if you will have an $88 down payment per month car payment and, even if you qualify, that payment is good for only 3 months. After that, the normal payment will take effect.
Since the Crazy 88 auto loan offer can′t be used with any advertised offer, you may not be eligible for that special dealer advertised price on an in-stock car, since the dealer will be using the amount of the discount to cover the difference between the regular payment and the $88 payment for the first three months of the loan.
What it means: Although the Crazy 88 auto loan folks will pay off your trade, the negative equity will be rolled into your next loan so, in effect; you will continue to make payments on your previous car. In addition, in order to make it work, the guaranteed trade for purchase is only on used vehicles, since many new vehicles don′t have enough profit in them to bury all your negative equity and, again, your credit has to be approved by a lender in order for this to happen. If you are turned down, all bets are off and the car of your dreams will continue to be a mirage on the horizon.