4 Ways To Buy A Car With Bad Creditby Johnny Harbour Marketing Manager
Planning to buy a car this year? How is your credit history? Is it up to the mark to avail of car insurance? What interest do you have to pay to a bad credit car dealer in Telford?
So many questions, but we’ll try to answer all of them if you keep reading! Low or bad credit can be a score below 600.
There are several reasons for bad credit history, starting with late payments to lenders, identity theft or simply fewer years of credit history.
The good news is that you shouldn’t pay a high interest rate on your car loan just because your credit score isn’t good enough! Let’s see how you can avail of all the benefits like a normal person with a good credit score when you don’t have one!
4 Ways To Buy A Car With A Bad Credit History
How Badly Do You Need A Car?
If you can travel by public transportation, or if buying a new car isn’t your primary goal, then I suggest you wait for a while for the new set of wheels.
If you have a bad credit history, you can definitely use the time, around 6 or 8 months to rebuild your credit so that it isn’t a hassle buying a new car.
You can start by paying your bills on time, making deposits in the bank using a secured card. A secured card can truly bump up your credit score.
But if you just can’t wait to buy a new car for yourself, then I say you might have to pay higher interest loans for a brief period of time if you go to the wrong place.
That’s why Silverdale Auto promises to make your dream a reality. Just give them a call at (215) 257-1400 if you’re stuck with bad credit!
Don’t Buy Expensive Vehicles
It’s a very obvious pointer but I made it mandatory for the readers to know about it. You just can’t go around buying costly goods when you have a bad credit history.
Yes, you might get approved in some way or another but is it something that you really want to buy?
I don’t think buying an expensive item will do any good for your credit! Try to buy a cheaper vehicle that comes with a small lease or loan.
A Bigger Down Payment Can Help
You credit score is partly responsible for the amount of car loan you can avail as well as the interest rate.
With good credit score, you can get a higher loan amount with a lower interest rate. But can’t say the same for a bad credit score!
So, we suggest many people to make a bigger down payment so that it can offset the interest as well as the taxes, and you can choose to buy any vehicle you deem fit for yourself!
Check Your Documentation Carefully
The loan documents can sometimes be confusing but is that an excuse to sideline it? I don’t think so!
When your money and credit is on the line, it’s important to take your time to understand the terms and conditions of the loan.
Try to match the documentation with the dealer’s words. If you feel that everything's right, then sign the paperwork and get your car on the road.
Still Not Sure About Bad Credit Car Loan?
You can get help from Silverdale Auto Sales II by calling them at (215) 257-1400 anytime!
Drive away with as little as $99 down! With hundreds of cars to choose from...
Created on Nov 11th 2019 05:34. Viewed 288 times.