You can still find your dream car with bad credit.
Going through a tough time in life and ending up with bad credit can make it seem as though life is giving you no options. However, having bad credit does not necessarily mean the end of the road. If you are looking to purchase a new used car or truck there is still an option even though traditional financing has turned you down. At buy here pay here dealerships, you can start to regain your life back by taking advantage of their in-house financing programs and find the perfect car or truck within your budget.
Having stated the above, you should be ready when you visit a buy here pay here dealership with the information they will need when you visit them to find a car. A few simple tips will make your transaction much easier and save time by being ready when you head to the dealership.
First know what your current credit situation is. You can access your score by requesting a credit report from one ofthe main credit bureaus. Make sure to check for any errors on the report. Often debts that have been paid may not yet be erased and a satisfaction letter from the lender who has been paid off may be necessary to eliminate it from showing up on the report. You can even bring your report with to the dealership.
Be honest about your current situation. Whether it is a death in the family, a recent divorce, loss of job beyond your control, or whatever the cause for the drop in credit, honesty goes a long way.
Put together paperwork and bring it with you to counteract the bad credit. A long history of good payments on a long term loan, good financial standing with your bank, and many other past positive financial history can help.
Make sure to establish a budget that makes sense.
Finally once you do have the car loan and are in your new vehicle, stay diligent with making payments on time and staying current. If possible try to pay the note off quicker or refinance the car into a more traditional loan once you have that option. Making sure you are on top of your payments and staying very current will start to rebound your credit score.
Locating a trustworthy car or truck that is within your budget is still possible even with a bad credit situation.