Drivers who have secured their bad credit car loans are often surprised at the type of cars they can afford. While some drivers are aware that they are pre-approved for a car loan, they often believe that they’ll end up with a lemon or jalopy that will barely get them from A to B.
The fact is that many with bad credit end up qualifying to get in new cars. Hyundai and Kia, both owned by the Hyundai Motor Corporation, are two popular brands with these buyers. Despite a perceived lack of quality in previous years, Hyundai and Kia have both engineered a major turnaround in the standards of their vehicles.
Hyundai, for example, came in 32nd of 37th on JD Power’s initial quality survey in 2001, yet was ranked 7th this year. After rebates, models like the Kia Rio and Hyundai Accent come in slightly above or even below $10,000.
The plethora of affordable cars under the brand may be one of the reasons that Hyundai is doing so well during the recession, as wallet-conscious consumers have helped Hyundai sales grow 24 percent thus far this year.