Securing a car loan when you have bad credit is never easy, and it can be especially frustrating if, after a long search, you’ve finally found your dream car. In recent years, people have emphasized the importance of checking your credit score often. Since there are three different agencies giving you these scores, there’s a high risk of information being recorded incorrectly, or someone interfering with your credit history.
At Rich’s Car Corner we offer free credit checks, at no cost to the customer.
Start Prepping Ahead of Time
About three months in advance, run your credit score yourself and see how it would look to a dealer. This way, if you spot any kind of discrepancies, you will be able to correct them right away. The best part is, the very fact you searched out and corrected any problems will further prove your financial responsibility and help increase your score.
Get More Than One Opinion
Yes, you are probably anxious to sign the papers and drive off in your new (to you, at least) car today. But it doesn’t mean you should take the first loan offer you get. The terms may look good at first, but there might be some fine print you can’t afford to miss. You wouldn’t want a low credit car loan, which requires you to buy add-on features or make payments for ten years. It’s important to shop around and find the right balance between the interest rate and monthly payments.
Bring the Evidence
The whole purpose behind a credit score is to give retailers or financial companies physical evidence you can pay bills on time. If the score alone isn’t enough, then bring along some documentation further proving what a solid payer you are. A recent pay stub from your job, a utility bill, your driver’s license, and letters of reference can go a long way in showing you’re ready for this.
At Rich’s Car Corner, there is no danger of manipulation so we can offer great deals for customers seeking bad credit car loans. Come by the lot or go online to complete our financing form and see for yourself all we can do for you.