Bad Credit Car Loans
Getting A Bad Credit Car Loan
If you have poor credit or no credit history at all, it doesn’t mean that you can’t get a loan for a new or used automobile. Even if you’ve just recently filed for bankruptcy, you may still be able to get an affordable car loan.
We Understand and We Can Help
Having transportation that you can rely on is essential. Whether you need to make sure your kids get to and from school safely or want to be sure that you’ll be able to show up for work on time, a reliable vehicle is critical. We understand that, and we’ll work with you to help you get a loan that you can afford and puts you in the vehicle of your choice.
There are a number of reasons that you may have bad credit. The loss of a job, enormous medical bills or having a number of unexpected expenses coming up all at once can make it hard to pay your bills on time. If you have a poor credit rating, we can still help you get the financing you need to purchase a vehicle. While your credit rating will be taken into account, a number of other factors may be considered when determining what types of loans you qualify for.
No Credit / First Time Buyer
If you’re young or have never purchased an automobile before, you may be concerned that your lack of a credit history will prevent you from being able to obtain a loan. Everyone has to start somewhere, so not having a credit history won’t necessarily disqualify you from being able to obtain a loan. A history of on-time payments to a utility company or a landlord may help to establish your ability to repay a loan.
The Approval Process
When you apply for an automobile loan, we’ll run a credit check, but it is not the only thing we look at. We work with a number of loan providers, including ones that focus on lending to people with less than perfect credit, so a bad credit score doesn’t mean you aren’t eligible for a loan. Your income, how long you’ve been with your current employer and your down-payment are all used to determine the types of loans available to you.
During the loan application process, we’ll work with you to figure out what types of payments you can afford and whether you prefer to focus on a low monthly payment or a low-interest rate. Keep in mind that you may be able to refinance your loan after a year of on-time payments, and refinancing can potentially allow you to obtain a lower interest rate or reduce your car payments.
Get In Touch With Us Today
If you’re recovering from financial difficulties and need a vehicle, come see us. Our experienced staff will help you figure out what type of car loan will fit your budget and help you obtain it.