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Fair credit is a situation where your credit score is neither exceptional good nor extremely bad. It is somewhere in between and is called a fair score or an average score. For example, you might have a few parking tickets or a bad driving license score. You must definitely not have a DUI (driving under the influence) ticket; if you do it would become a bad credit score. Besides, a DUI is a criminal offense in this country.

If you find yourself with a fair credit history, you first need to take steps to rectify the issue. Opening credit an account and making regular and prompt payments are the best way to improve a credit score. If you are thinking of buying a car, getting one with an auto loan is a good way to start off on improving your score right away. You can get an instant approval auto loan in a reasonable time frame.

Recently, a lot of online auto loan businesses have started. They provide instant approval services. Now, this does not mean that you will get it in a few minutes. The money will take at least a week to shift hands from the lender to the customer. It is just that you can get it faster than other conventional loan procedures. If you have a fair credit history, you can get it much more easily than someone suffering from a bad credit history.

There are several online lenders who specialize in fair credit lending. A car loan is easier to secure with fair credit because the commodity that you are going to buy with the money borrowed is a security in itself. A car can easily be seized in case you fail to make regular payments. The lender will for a down payment to ensure that you are committed. This down payment can range between ten percent to even thirty percent. The more you put down, the better the terms and conditions will be.

If you get a loan pre-approved, you get the joy of walking into a car showroom and looking at the various options that lie within your budget. This is better than having to worry about whether or not you will be able to afford the car that you have chosen in the showroom.