When you have bad credit, buying a car can be stressful. But it doesn’t have to be. Knowing what options are available to you before you start shopping can take the sting out of the car buying experience.
First, shop your financing options. You don’t want to fall in love with a vehicle, only to find out that you don’t qualify for the financing. Find dealerships and buy-here pay-here retailers in your area who are willing to help those with tarnished credit.
Look for establishments offering financing options to individuals experiencing bankruptcy, divorce, repossessions, no credit, or what some call sub prime credit. Also consider those who offer the use of your future tax refund or tax refund advances to assist you.
By using your future tax refund, the dealership can help lower your weekly or monthly payments while also helping you pay off the car faster. A down payment is likely still required today, but you can supplement it later when the tax refund arrives in January and February. All you need is your last paystub to estimate your upcoming tax refund.
Many dealers will partner with reputable tax preparation companies to file your taxes for you. The Drive Now Network helps you connect with these dealers in your area to save time, money, and hassle come tax time.
The second step is to gather your financing information. You will need your last paycheck stub for your current job or jobs. If you’ve recently changed employers, try to track down the last paycheck for them as well. This will help the dealer put together a clearer picture of your ability to succeed with the available financing options.
Make sure to call the dealer and ask them what you need to complete all loan paperwork ahead of time.
The final step is to put together a wish list of vehicles you want. Even better, make a list in the order of importance that includes each vehicle year, make, model, feature, and option that you desire. Be sure to include practical features as well. An armrest that is comfortable you as the driver, cruise control, air conditioning, or room for the kids are good examples.
Go online to see what dealers in your area have the financing options to fit your situation as well as the cars you want. If you go to DriveNowNetwork.com, the dealers will actually call you!
When you enter the dealership prepared, the car buying experience can be a lot easier for everyone. There is nothing more frustrating than having to go home to get more information when you are taking the bus or bumming a ride from a friend. The salesperson may also be more willing to give you a better deal out of appreciation for you having everything you need.
