Don’t Let Bad Credit Keep You From the Car You Need
How Do You Get a Bad Credit Car Loan?
There are very few people who purchase a used vehicle without financing. That means finding a loan provider that will provide the most affordable solution. If someone has experienced a run of bad financial luck, their credit profile might not be in the best shape. Getting a car loan these days can already be a fraught affair and having a low credit score isn’t going to make the process easier. Let’s take a look at a few steps you can take to raise your chances of getting a used car loan with bad credit.
READ MORE: Everybody Drives at Davey Auto Sales
Pay Off or Get Past Due Accounts Current
A person’s debt-to-income ratio is a major part of loan process. Having open collections accounts and other past due bills isn’t going to make a lender take a risk on someone wanting to buy a car. Paying off as much debt as possible and keeping open accounts current will be helpful. Also, it’s important to check your credit report for errors that could be bringing down your score.
Shop Around for the Best Deal
LIke any business deal, start with people who know you when looking for a loan. If you have a savings or checking account at a bank or credit union, that is a great place to start. Also, financial experts suggest trying to find two or three offers. Getting pre-approved for a loan can make the hardest part of the buying process a lot less stressful.
Davey Auto Sales Credit Programs
Davey Auto Sales is one the leaders in the pre-owned vehicle market in our area. Our finance team has a lot of experience working with people who are coming from tough financial situations. This includes offering loan programs that are specifically designed for people working on rebuilding their credit profile. We understand that bad things happen to good people.
We are the used car experts in Oshawa! Make an appointment with one of our product experts today to get the ball rolling on getting you behind the wheel of a safe and reliable pre-owned vehicle.