Can I Get Approved for Car Financing With Poor Credit?

With poor credit, you may feel like your car-buying options are also on the poor side of things. The good news is we have financial solutions for individuals who have struggled with credit in the past. To help you get beyond where you are now with your credit rating, we offer solutions that allow you to get approved for car financing with a bad credit rating.

One of the best things about getting approved for financing when you don’t have a great credit history is you can improve your credit rating. You need to start working your way toward better credit at some point, and our financing solution allows you to do that. By staying in contact with our financial representatives and letting us know what your financial situation is, we can help you make sure your payments are on time and in full so it makes a positive impact on your rating.

Something to keep in mind is you will have a lot of options when it comes to credit approval for individuals with bad credit. No matter the type of automobile you are looking for, we will have something that meets your needs, and you will be able to purchase it with the help of financing. If you need a small sedan, we can make that work. If you are looking for a van, we can make that work as well. Your options don’t have to be limited just because you have struggled financially in the past.

When you need a new car, don’t hesitate because you have bad credit. You do have options and we are here to help. Our solutions allow you to get approved for auto financing so you can improve your credit rating and purchase the car you have always wanted. Don’t wait to make these improvements to your life. Speak with a representative today to see what you need to do to get started.

Is It Safe to Purchase Used Cars?

While you are getting ready to buy your first car, you may wonder if it is safe to buy used cars. After all, you may like the idea of being able to save a bit of money, but not if it is going to compromise your safety. It is often safe to purchase a pre-owned vehicle, but it will depend on who you are buying it from. Instead of purchasing a vehicle from someone on the street who is selling one that they used to use, you should check out our dealership.

When you decide to get your vehicle from our dealership, you do not have to worry about it breaking down on you just weeks after you have purchased it. Each car that we have available has been carefully examined and tested. We make sure that it is not only safe, but also clean and comfortable for you to drive home with if you please. In fact, most of the options that we have still look new on the inside and outside. Your friends and family would likely not be able to tell that it was ever owned by someone else if you did not tell them yourself.

As long as you are buying from our dealership, you are in good hands. The vehicle will not only be safe for you to drive, but will also be in excellent used condition. You may think that your choices are limited if you decide to get a pre-owned vehicle, but that could not be any further from the truth at all. While you are on our lot, it would be easy for you to notice that we have many makes and models available.

We certainly feel that it is important to have a little something for everyone, especially since each person will have their own preference when it comes down to what they will drive. If you are ready to get your first car, consider checking out the used cars that we have available.

How to Buy a Used Car

If you have decided to buy another vehicle, you might have considered purchasing a used car. Purchasing used cars is like buying new ones, but the process is somewhat different. Because you probably want the best car for the best price, you should consider taking the following steps to get a great deal.

Think About Overall Costs

Your used car will cost you more than just your monthly payment. When you are considering how much you want to spend each month on your car, think about all car-related expenses. Loan payment, insurance, gas, parking, and other expenses add up quickly. Try to estimate each of these expenses liberally. Then, prepare a monthly car budget. If you can pay for all your car-related expenses and still cover your other monthly bills, you have successfully determined how much you can spend on your used car.

Secure a Loan

If you plan to finance your car, you will need to secure an auto loan. Think about trying to get pre-approved before you go car shopping. If you do, you might be able to better negotiate the price of your vehicle. Whether your financing comes from a bank, financing company, credit union, or auto dealer, with a pre-approval you can focus on getting the right price instead of negotiating loan terms. Alternatively, if you decide to wait for financing until you find your car, understand your credit so you can negotiate beneficial loan repayment terms.

Find the Right Car

If you are shopping for used cars, try to work with a reputable dealer. If you do, you can increase the chances of getting a great used car. Even better, if you shop at a dealership with a certification process, you will have peace of mind you aren’t getting a lemon. If you understand the process of buying a used car, you can get the best vehicle for the best price.

What You Need to Know About Financing Used Cars

Buying a car is an exciting experience. The process of obtaining financing, on the other hand, is less joyful. We want you to consider these aspects about financing used cars so that your experience can be a good one.

Obtain Your Credit Report

Before trying to get financing you always want to obtain your credit report. Be sure to check it for errors and report them should you notice any. Your credit report can also help you identify aspects that you are able to improve, such as paying off some debt. Improving your credit score is helpful for getting a better interest rate.

Decide on the Budget

Reviewing your finances helps you figure out how much vehicle you can or want to afford. Take into account any fluctuating, fixed and unexpected expenses, such as fuel, insurance and maintenance. If you don’t care about make and model of the vehicle, you are more flexible in finding a car that fits your budget.

Know Your Financing Options

Contact your house bank for a direct loan. Often times they offer competitive rates for their customers. In addition to that reach out to local banks, credit unions and online lenders. The latter can be a good option if you have a bad credit score and credit unions are known for offering great loan terms. The car you have your eyes on must be able to meet the bank’s basic requirements. Get offers from multiple lenders to find the best rate.

You can also obtain financing through your car dealership. This is a smart choice if you are not keen on one specific vehicle. Most dealerships finance any vehicle on their lot, which opens up your options for getting a great deal. Furthermore, many dealerships offer financing for people with bad credit. It is recommended to put down some money in order to get the best interest rate. This is also important because cars depreciate in value and you don’t want to owe more on it than it’s worth.

Being smart in regard to financing a car can get you a great deal. Be sure to bear in mind these aspects about financing used cars.

How to Pay Off Your Car Loan Early

You have just chosen your new car and negotiated the terms to pay for it. You may be content at first, but that five-year note may take the edge off your excitement after a while. You may begin to feel as if there is no end in sight, but there are some practical ways you can shave quite a few months off the life of your loan and pay less interest overall.

Make Payments

The simplest way to pay off car loans in a timely manner is to make payments on time and never skip a payment. If your payment is late, the lender might tack on a fee to your loan principal. Not only does this increase the amount you owe, you will also be paying interest on that fee. Your lender may occasionally offer you the opportunity to skip a payment as a reward. While this may be tempting, fight the urge to skip. Skipping a payment only adds time to the life of your loan.

Round Up

Paying a little extra than the contract terms require each month is another good way to pay your loan off early. If you budgeted for $300 a month, but your finance plan only requires you to pay $250, go ahead and pay the higher amount that you planned every month. This not only takes months off the terms of your loan, it also lowers the amount you pay in interest.

Pay More Often

Some lenders charge penalties for making extra payments, but if your contract terms will allow for it, try to make an extra payment every once in a while. An easy way to do this is by making a half-payment every two weeks. Over the course of a year, instead of the 12 payments you would have made if you had paid once a month, you will make 13 full payments.

Your car loan may seem like it lasts forever. With a little extra effort, however, you can pay it off faster than you originally planned.

Do Your Homework for Hassle-Free Car Shopping

Setting out to shop for used cars can be daunting. There are thousands of cars out there, and selecting the perfect one takes time, patience and common sense. A snap decision based on eye appeal might leave you with an expensive car that doesn’t suit you. Nor do you want to snatch the cheapest car and find yourself the proud owner of a lemon.

Before you head to the car lot, decide how much you can afford for the down payment and the overall car. Arrange the necessary financing. A good rule of thumb is to keep car payments lower than one fifth of your net pay.

Once you are at the dealership, shop with purpose. Have an idea of what you want, research and compare prices, and make sure you get key details on used cars of interest from the seller. Ask about the car’s history and performance. You can fact check vehicle records easily through several online databases.

When you’ve found one or more used cars that appeal to you, get cozy with them. Test seats, explore trunks, pop hoods and check fluids. Go over each car for structural issues. Don’t worry about minor scrapes, but do watch for misalignment such as closed doors that don’t align with the frame, a sign of previous damage. If you’re not sure what to look for, bring a car-wise buddy or consult the owner’s manual.

Last but not least, take the car out for a spin. Accelerate to highway speeds, test the car on corners and hills and brake hard to check for braking capability. Consider driving the car to a mechanic for an inspection. When you settle on a car, your next step is to negotiate with the dealer. If you’ve done your research, you will know the car’s value and can bargain accordingly. If you have prearranged financing, the dealer may compete by offering lower rates to your benefit.

Doing your homework is key to finding the right used cars. Follow the steps above to buy a car that will go for thousands of kilometers.

Buying a Used Car: How to Choose a Payment Option

When the time comes to buy a used car, there are many financial factors to consider. Perhaps your budget will narrow your used car choices, or you may not be aware of the payment options available. We are ready to show you some ways you can pay for your vehicle and to show you that the make and model you desire most may well be within your reach if you plan carefully.

Consider the Time Frame

As you consider payment options, one of the first factors you might want to think about is how long you will be paying for your car. Whether you secure a loan through the bank or choose in-house financing with us and depending on your credit, your loan could be as brief as two or three years or as long as five. It is important to understand the exact terms of the length of your loan before you sign off on a vehicle.

Give Yourself Time

Even if you find yourself needing a new vehicle for your commute to work or school, you should avoid jumping into a deal right away. Take the time to consider your options, as this may help you avoid hefty payments that might be hard to handle later on. For example, ask yourself whether your current car is a valid trade in or if you can secure a down payment that may help lower the cost of a vehicle.

Review Your Budget

One mistake many people make when they shop for used cars is to miscalculate how much they can afford to pay monthly. To avoid this error, you will need to factor more than just the car payment into your auto ownership budget. The cost of insurance, gas and other taxes and fees that will need to be paid when you purchase a vehicle should all be included in your budget to ensure you do not overextend it.

Buying a used car can be a challenge, especially if you are unsure of your payment options. However, being prepared and asking the right questions can help you get the car you want at an affordable payment.

Factors Affecting the Cost of Your Car

Everyone likes to get a good deal. When you are offered a low monthly payment on your car loan, that might seem like the best deal of all. In the long run, however, that low monthly payment might actually end up costing you hundreds of dollars more than you intended to pay. In order to understand the true total cost of car loans, you must look at three different factors.

Loan Amount

The initial amount you borrow is called the loan principal. The amount of principal you have left at the end of every billing cycle is one half of the equation that determines how much you will pay in interest. To lower the total amount you pay on the entire loan, it is a good idea to start with a lower principal. If you are able to pay 20% of the initial $25,000 cost in a down payment, that is $5,000 of the purchase price that never figures into the interest you are charged.

Loan Rate

The other half of the interest equation is the interest rate itself. Bargaining for a lower interest rate can significantly reduce the price you ultimately pay for your next vehicle. A great credit score and other factors, such as dependable income, can lower your risk factors with the lender and thus can result in a lower APR, saving you a great deal of money.

Loan Term

A lower monthly payment might be tempting. When you accept a lower monthly payment, however, you are lengthening the term of your loan, postponing the date when the car will be paid off and costing yourself a lot of money in the process. You will pay significantly less interest with a 2- or 3-year loan term than with a 4-year loan.

When negotiating the terms of car loans, fight the urge to take it easier than your monthly budget can handle. Factor in the amount, rate and term of your loan to get the best deal overall.

Why Buying a Used Car From a Trusted Dealer Is Important

If you wanted to buy a product, you would buy it from a retailer you trust. The same thing is true for buying used cars. You would never buy a car from a dealer you didn’t trust. That is why we strive to be a trusted name in used car sales, and why we think you need to understand the importance of buying used cars from a trusted dealer. We want our customers to be confident in dealing with us.

We want them to know that when we say something, they can trust every word. we don’t make promises we can’t keep or tell my customers things that we can’t guarantee because we know that will only hurt us, the dealership and the customer in the end.

Buying from a trusted dealer is important because it allows customers to be able to buy without worrying that they are being scammed. They know that shopping with this dealer will mean they get a good vehicle for a great price. They know that the dealer won’t tell them a car runs great and has no problems if it actually needs a new transmission. They know that the dealer won’t tell them the car they want is only available at a hugely inflated price and instead will be willing to negotiate a fair price.

Let’s face it, while technology seems to be the way of the world, word of mouth is still huge when it comes to reputations. So, a dealer that is not trustworthy will soon be exposed and his reputation ruined. As a trusted dealer, though, word of mouth is a blessing. That is why we always strive to give each customer the best experience possible.

Our customers expect us to be trustworthy, and we don’t let them down. We are offering great quality and prices for used vehicles. That is the whole point of being trustworthy. If we don’t have your trust, then we don’t have a business.

Top Benefits of Used Cars

There are numerous reasons to be excited about buying and owning a used car – the cause that is most compelling can vary from one individual to the next. The motivations for purchasing a pre-owned vehicle can be lumped into two main categories: style preference and budget. As for people who are looking to save some money on getting an automobile, the majority of them can meet this goal by preferring to drive cars, SUVs, vans, or trucks that have had at least one prior owner. The benefit of style might not be something that requires explaining, as entire communities have been built around classic and antique enthusiasts.

The Affordability Is Superb

Many people would be quick to take advantage of any opportunity to save thousands of dollars – especially if there needs can be met just the same as if they had paid the higher price. Buying used cars is a strategy that can be deployed in order to protect the balance of your bank account by allowing you to satisfy your need for personal or family transportation without paying much. In many instances, the high level of affordability inherent to pre-owned autos enables buyers to get a better car than they originally thought they would be able to buy.

You Get to Own Your Favorite Model

While a lot of people pick the vehicles they purchase purely for budget and functionality, there are still many who get a particular car because it is the one that best matches up with their tastes. For car enthusiasts, lots full of used cars is where they have the most pleasure shopping for their next automobile – the Chevy Camaro and the Ford Mustang are prime examples of cars often purchased used because of the performance and visual appeal of earlier models.

The list of benefits of buying a pre-owned can be quite long, but a great percentage of the people who purchase used find that either their taste in style or the friendliness towards their budget the most compelling reasons.