Cars & Coffee
Cars & Coffee will be held on Sunday April 21st from 10am to 1pm at St Albert Exotics parking lot. Show cars park on the right side of the SAE building, non-show cars park on the left. Everyone is...
Tips for Getting the Best Financing When Buying a Pre-Owned Vehicle with Poor Credit
Buying a pre-owned vehicle can be an intimidating process, especially if you have poor credit. But don’t let your credit score keep you from getting behind the wheel of the car of your dreams. Use these tips to make the best financing decisions when buying a pre-owned vehicle with a poor credit score.
First, make sure you plan your budget before starting to shop. Generally, dealerships who specialize in second chance and poor credit financing will work around your budget to find the best option for you. If you plan your budget ahead of time and account of extra expenses that come with buying a vehicle, you will be able to find a vehicle that not only you can finance, but that won’t become a pain for your finances.
Second, make sure that your dealership is willing to work with individuals who have bad credit. There are many dealerships and sellers who are open to working with people regardless of their credit history and can provide competitive rates even for those with poor scores so be sure to ask about this. Working with a dealership that offers specialized financing is key as they can provide more options and have more experience getting buyers approved. They also understand that anyone can have credit problems, and the service they provide will be a lot more professional.
Third, think ahead. It’s important to understand that rebuilding your credit is a process. As you show financing institutions that you can respect your monthly payments, you will have access to better financing. Therefore, if you are buying a vehicle with poor credit, think of this purchase as a steppingstone. Don’t overextend your budget and get a vehicle that you can barely afford, because this may cause you to miss payments if unforeseen events happen down the road. Get a vehicle you can afford easily, improve your credit over time, and then you can get a better vehicle down the road.
Four, make sure you get a reliable vehicle. The last thing you want are expensive repairs. We make sure we inspect all of the vehicles we offer for sale, and we also offer a range of vehicles that have proven their reliability. Quality is very important when buying a vehicle with poor credit.
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