Getting from A to B: 4 Tricks to Buying a Car with Bad Credit
The economy has hit Americans hard, so there is no shame in admitting that more people have bad credit now than ever. Still, this does not mean it is the end of the world. You still need to buy a car, and the following four tricks will help you get one.
Third Party
One of the simplest solutions is to simply buy a car from a third party. Now, it is dangerous to buy a car on the street because you do not get any guarantees, and you do not know what is wrong with the car you are considering.
Additionally, you do not have many choices on the street. Still, this is one of the most effective solutions since you get to bypass the credit approval process.
Big Down Payment
Everyone knows that money talks, and you can use this to your advantage. It might be hard, but saving a large sum of money to give to the dealership you are considering may work.
A large down payment means the dealership is taking less of a risk on you, which is ultimately what they want. You still get the car you need as long as you keep up with your payments.
Friendly Dealerships
Photo by Matt Henry on Unsplash
Another option is to simply seek out dealerships such as AutoStart and similar businesses who will work with people with bad credit. These dealerships already know the possible issues you are dealing with and are ready to lend a hand.
Of course, there are a number of compromises that you might be asked to make, such as slightly larger monthly installments or a high APR, but everything is negotiable, so do your best to stop by one of these dealerships.
Work on Your Credit
You can also work on your credit score before you try to purchase your car. This does mean you will have to make efforts to pay some of your debts off. You may need to reduce spending by cutting on groceries and eating out less. Try downloading a program that will help you budget in order to work on your credit score.
Hopefully, some of these tricks help you get the car you need. Be ready to negotiate and have patience. It is going to be a little harder for you to find a good deal, so accept that before you start looking, but that does not mean it is impossible.
Category: Car Purchase
