How to Buy a Car with Bad Credit

If your credit score is a little scary and you need to buy a new car, you may be a little stressed about the situation.  Before you start worrying that you are going to have to dust off your old 10-speed, relax!  There are actually quite a few options for buying a car when your credit is less than perfect.  Here is How to Buy a Car with Bad Credit!

Buy Here Pay Here

The first option, and the one that many people think of is going to a buy here pay here lot.  Although it is obviously going to be expensive, this can be a decent way to get a car if your credit is extremely bad.   The one thing that you do need to be careful about is making sure you are getting a quality vehicle.  If you do not know a good deal about cars and are not in a good position to evaluate the integrity of the vehicle that you are getting, have a mechanic take a look at the car before you buy.

Sub-Prime Dealership Financing

If your credit is a little scary, but not completely terrifying, you may be able to go to a dealership and obtain financing.  Before you ever visit the dealership, call and ask to speak with the finance manager.  Very large dealerships may have more than one, and the one you are looking for is the “Special Finance” manager.  Be honest about your situation and ask what their lending requirements are.  If it sounds like you may meet their criteria, then go ahead and make application on the phone or over the internet.  The advantage to this option is that your loan will be reported to the credit bureaus which will help you with the credit restoration process.

Bad Credit Car Dealership

The third option is to go to a dealership that specializes in bad credit lending.  There are actually chains out there with this specialty.  They are a bit like a buy here pay here dealership, except that they are getting you financed with aggressive lenders and also typically have access to private money.

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