When you have bad credit, it can be very difficult to purchase a vehicle. You can pay cash for a car but you’ll end up spending years saving up enough money. You can also apply for a loan from your local bank or credit union, but the odds of being approved can be slim to none. A third option is to purchase a car from a buy-here, pay-here used car lot like Joe’s Auto Sales. Let’s explore these three options a bit more closely in the article below.
1. Pay Cash
Do you wish to buy a car but your bad credit prevents you from being able to get a loan for a vehicle? Paying cash can be an ideal option. You won’t have any monthly payments, and you can begin saving for your next vehicle right away. When paying cash, you can purchase from a private seller or from a car dealership.
2. Get a Bank Loan
For those who have poor credit, getting a vehicle loan from a bank can be extremely difficult. If you can show that you’ve been working to improve your credit, such as having a consistent, secure job or paying bills and other monthly payments on-time, you still may be able to get a loan, although you may have to pay a higher interest rate under these circumstances.
3. Find a Buy-Here, Pay-Here Auto Dealership
By working with a buy-here, pay-here used car lot, you have a greater chance of owning a vehicle compared to applying for a bank loan or saving up enough cash. At Joe’s Auto Sales, this is exactly what we do for our customers. Not only do we help them obtain financing, but we make it quick and easy to do so. Plus, we’ll report this loan to all three credit bureaus which will, in fact, help to improve your current credit score.
Bad Credit? Visit Joe’s Today!
We specialize in helping those with bad credit purchase a much-needed vehicle. Visit us at our East Indianapolis location at 8510 Pendleton Pike or contact us by calling (317) 405-8545. We sell used cars, used trucks, used vans, and used motorcycles in Avon, Danville, Speedway, Plainfield, Clermont, and all surrounding areas.
Source: “Options For Buying a Used Car With Bad Credit.” Blog article. Auto City Credit. Auto City. Web. 04. Feb. 2021.