Bad credit can adversely affect people in many different ways throughout their life. In fact, 56% of consumers in the US have subprime credit, hindering their ability to get a reasonable loan from most banks. Subprime credit can occur for a variety of reasons such as divorce, a sickness or health issue, or even a small amount of unpaid credit card debt. Some people may not have any credit because they never began building credit or were never informed on how to build credit. Whatever the reason is for bad credit, it doesn’t have to prevent you from living a happy, healthy life and it doesn’t have to prevent you from buying a car!
The short answer to the title of this blog, “Can You Buy A Car If You Have Bad Credit?” is yes! It is extremely likely that you can still buy a car with bad credit if you are going to the right place to buy your car. If you go to a dealer that has experience with bad credit financing and are well-versed on the subject, then they are going to be able to negotiate well with banks or credit unions to get you the lowest rates possible and to ensure you get the vehicle you deserve and desire. It is important that the dealer you work with understands the entire credit process well so that they can ensure you get everything you deserve. If a dealer has been established in the car financing realm for a long period of time, especially with bad credit financing, then they are likely to have good relationships with banks, credit unions and other institutions that can help you finance your car. This means that you can rest assured that you are getting the best deal possible and are more likely to be able to buy a car.
A good car dealership will treat anyone with bad credit with respect. Different situations happen to everyone and having bad credit is not a crime so a dealership should seek to understand each individual’s situation to help them receive the best deal on a car as possible. If you have bad credit, you are not stuck. You can still get a car now and your bad credit can be repaired. By purchasing a car, and paying your bills on time, you will actually begin to improve your credit, which can help you buy a nicer car, or establish your good credit even more. Your bad credit history can go away quickly, and I have seen it happen many times. The negative aspects of your credit history begin to fade away, and the positive aspects, like paying your car bill on time, are brought to the light.
It is important to understand that if you have bad credit, then your interest rates may be higher than average because of the credit, and you may have to put money down on a car, but in doing so you can be on your way to improving your credit history. A great car dealership will do everything possible to get you the lowest rates by negotiating with lenders and do the best to reduce the down payment to make it easier for you to buy a car. At the same time, if you have bad credit there can still be some higher rates and down payments. Each credit situation is unique and should be handled in a personal and unique way by the dealership.
In summary, if you have bad credit you are not stuck! You still have the option to buy a car and begin rebuilding your credit history today and start driving the vehicle you deserve.
At Guess Motors, we have been in the bad credit financing for many years and it is a large part of our business. We have experienced experts ready to help you get the car you deserve, even if you have bad credit. We will work with everyone, no matter your credit situation. We have Guaranteed Credit Approvals if you meet our simple minimum requirements.
Interested in how we can help you finance your next car? Contact us today!