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Options For Buying a Used Car With Bad Credit

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Some people are able to save enough money to buy a car in full. Most of us come to a point where we need a different car and must find the money for that purchase. Thankfully, there are a few of ways to get a car financed or buy an inexpensive one out right. Depending on the health of your credit and the amount of risk you’re willing to take, one of the following options could get you into your next car.

Buying from a Private Seller

You find an inexpensive car in the newspaper or sitting with a “For Sale” sign on it in a parking lot. You like the car but what do you do now? Buying from an individual can be risky. Are they telling you the truth about how well the car was maintained? Was it really only driven by their grandmother to church on Sunday?

You must be careful when buying from an individual and be sure to ask all of the right questions. Get maintenance receipts and look through the car from top to bottom. You may want to bring a mechanic along to check the car out. You’ll put a lot of effort into this and still have no guarantees. Plus, an individual is not going to finance the car to you, so you’ll have to come with cash in your hand ready to pay in full.

Getting a Car Loan from the Bank

Banks don’t make that much money off of car loans and they are particular about who they loan money to. They use the standard credit rating formulas, so if you have any blemishes on your record or have just started a new job, getting a loan may be difficult.

If you have great credit and a steady job, a bank loan is convenient with rates often as low as you can find elsewhere. There may even be some perks, if you already have an account with the bank. They can throw in things like roadside assistance or travel discounts for their existing customers.

If you have credit issues, though, this may not be the easiest or wisest option for you. Instead, you can consider a car dealership that offers in house financing, which we discuss below.

Buy Here/Pay Here Auto Dealerships

The buy here pay here auto dealer gives you the option to handle all of your car needs in one place. This is exactly what we do when you buy a car from Auto City. When you find the car you like among our large selection, we’ll help you with the financing. Even if you have bad credit or little credit history, you can buy a car from us by showing proof of income. If your cash is tight, we can even help you with the down payment. These are all benefits that you’ll never get from a private seller or bank.

Buying from a dealership that finances is also a way to help repair bad credit. Keep up with the car payments with us and you’ll get good marks on your credit report. When you work with us, you’ll be driving a dependable car purchased with a loan that was easy to get, and you’ll be improving your credit rating. We offer a low-risk way to shop for good, reliable transportation.

Overall, there are many options for getting into a new-to-you used car, but you’ll have to decide which route is the best for you depending on your financial situation and credit score. If you’re concerned about your credit score but need to get into a car quickly, make sure to check out our inventory page and fill out our online application.