Top Tips to Help You Get a Car Loan with Bad Credit
At 4UrBudget, we know that sometimes things happen that are out of your control. With finances especially, it is hard to always stay ahead 100% of the time. Not paying bills on time can be detrimental on your credit score, which may in turn make it difficult for you to find a car loan. Here are our top tips to help you get a car loan with bad credit.
Have Someone Go with You
It might not seem like a big deal to you but having someone go with you when you are shopping for a car loan can be extremely helpful. Shopping for a car, particularly when your credit is not ideal, can feel frustrating. A friend can offer moral support, help you identify your needs and wants in a vehicle, and help you make a good decision.
Pay Attention to Loan Terms
One mistake many car shoppers make is buying a car based on the monthly payments they can whittle the payments down to. However, you should be making sure that you are paying attention to the specific loan terms such as interest rate, term length, and any other bonuses of the loan such as ongoing maintenance discounts and more.
Say No to the Fluff
You will notice as you do your car shopping that many lenders and dealerships who are willing to lend to you despite your less than perfect credit will only do so after offering and tacking onto your loan a lot of additional fluff and contingencies. Make sure that you understand the contract before you sign.
Get a good idea of what you can get for your money by shopping around to a few different dealerships and lenders. We are a full service one stop shop and so if you are looking for a place that can find you the best car for your money and get you a loan regardless of your credit situation, come see us.