You’ve been to every car dealership you can think of, and you’re getting fed up. Not a single one can approve you for a car loan. While you knew that your credit was a little dinged up, you had no idea it was so bad that no lender will help you. However, aside from the credit issue, there has been one other constant theme: the recommendation of a cosigner.
If you are dealing with damaged credit or a tight budget, making the purchase of a new vehicle is probably the last thing on your mind. But what else can you do when you absolutely need to make an auto purchase? You know buying an old clunker for a couple grand isn’t the answer. Getting financed for a reliable vehicle is your only option.
Your credit score. It is used to rank you in so many things in your life. Loans, rental agreements, insurance, job opportunities – your credit history may come into play with all of these types of life changing events.
When you purchase a vehicle with a bad credit auto loan, you gain an excellent opportunity to build or rebuild your credit with your regular and timely payments. This is your chance to earn the credit score that you want, and prove to future lenders that you are a financially responsible borrower who deserves buying privileges and competitive loan terms.
When you don’t have time to deal with a credit check or need a car fast, it can feel like the options are very limited. Where can you go for help?