Everyone loves getting a new car, but that can be quite difficult to accomplish with bad credit. Thankfully, there are plenty of ways to get a car with bad credit auto loans.
Here are some great tips for dealing with bad credit auto loans and actually acquiring a solid vehicle with poor credit:
- Don’t ignore pre-owned vehicles — For some reason, many people associate used cars with poor performance. Maybe that was the case a few decades ago, but it certainly isn’t true anymore. Used cars have just about all the bells and whistles that newer vehicles have and are much more affordable. Additionally, Certified Pre-Owned vehicles tend to generally have less than 36,000 miles on them, so you’ll be able to drive them for a very long time.
- Find a suitable lender — Figuring out how to get an auto loan with bad credit is much easier when you’re working with a lender that accepts applications with all kinds of credit levels. Obviously, if you’re trying to deal with a lender that only works with individuals with excellent credit, you’re going to have some trouble. But there are plenty of quality lenders out there that will work with you to get a solid vehicle. Keep in mind, you don’t have to work with the very first lender you find online — it’s best to shop around for quality auto loans so you compare prices. Try to do so with a time frame of 14 to 45 days in order to avoid damaging your credit even more.
- Be ready to negotiate — Just because your credit is bad doesn’t mean you have to take whatever unfavorable deal is presented to you. There are hundreds of reasons why someone’s credit could be lacking, so it’s unfair to punish them with poor loans and high interest rates. You have to stay reasonable with your terms, but make sure you’re ready to negotiate with not only the auto loan lender, but the dealership as well.
If you are ready to get a quality vehicle and visit a great used car dealership — as well as make the most of any bad credit auto loans — give Auto Sales and Service a call today!
