How Hard Is It To Get An Auto Loan If You Have Poor Credit?

Unexpected expenses can wreak havoc with the finances. People who live from paycheck to paycheck walk a fine line every month trying to keep ahead of the bills while hoping and praying that they can avoid a disaster of some type - at least until they get their next raise. But the truth is, for many people, an unexpectedly large home repair bill, medical bill, or business bankruptcy can derail them financially. And when that happens, it often starts a freefall into negative financial statements and a ruined credit score that’s hard to recover from.

If this has happened to you, you’re probably very familiar with the bad feelings that result from this situation. Shame, embarrassment, and frustration go hand in hand with financial destruction. So, too, does the “helpful” advice of friends and relatives who’ve never been in your situation. Naysayers may tell you that you’ll never be able to rebuild your credit or that it’ll be years before anyone trusts you enough to loan you money again.

So...do you buy into what they’re saying?

Don’t listen to your friends and neighbors. They may mean well, but if they’ve never been in your situation, they shouldn’t be viewed as experts, right? There are ways to rebuild your credit fairly quickly if you’ve had a financial setback. It’s not the end of the world. A good place to start is with an auto loan.

 

How hard is it to get an auto loan with poor credit?

The good news is that’s it not difficult to get an auto loan even if you have poor credit. You just have to know where to look. Start with a bad credit car dealership like AutoMax.

AutoMax is North Carolina’s number one buy here pay here car dealership. They offer on the lot car financing to help customers get a used vehicle that they can rely on. AutoMax offers this financing option to everyone, but they specialize in helping people with poor credit. In fact, the company started back in 1989 with this goal: to help people with bad credit purchase reliable transportation without hassle.

Why use on the lot financing instead of traditional financing?

Buying from a buy here pay here car dealership that offers on the lot financing saves you lots of time and money. On the lot car financing means that the loan is made to you at the dealership. You don’t have to go through a traditional bank, and you don’t have to run around town trying to find someone who will make you a loan. Instead, you qualify for the loan on-site, choose the car you want, and then take care of all the paperwork at the dealership. It’s quick, easy, and hassle-free.

You also save money by avoiding extra charges that are typically found at a traditional car dealership, fees like destination charges and prepayment penalties often don’t exist at a buy here pay here car dealership.

bad credit car dealership

Buy here pay here car dealerships are legit, right?

Some people are skeptical of bad credit car dealerships. That’s just because they don’t know much about them. To some, they may seem too good to be true. But buy here pay here car dealerships are the real deal. While they have more flexibility when it comes to loan terms, they’re still regulated by state and local governments just like traditional lenders are. So you can do business with them with confidence.

When you work with a reputable bad credit car dealership like AutoMax, you have the assurance of working with professionals who can guide you through every step of the car-buying process. They know that your situation is sensitive, and they’re here to help. They work with you to determine how much car you can afford based on your income and other expenses, then guide you to vehicles on the lot that fit into your budget. They want you to be successful, because after all, if you can’t make the payment every month, both of you lose.

Qualifying for on the lot financing at AutoMax is easy.

AutoMax makes the loan qualification process extremely easy. Fill out the loan application online before you come into the dealership to get a head start on the process. You’ll need to provide some personal information like your birth date and social security number as well as your monthly salary, but here’s the thing. Most buy here pay here car dealerships don’t pull a credit report on you. Since they loan you the money themselves, there’s no need for a credit report. This is good news for anyone with bad credit because the more hits you have to your credit report, the worse it looks to other potential lenders.

AutoMax approves 100% of the loan applications that come in. They don’t worry about your past credit history. All they want to see is that you can make your car payments going forward. In fact, AutoMax helps customers rebuild their credit scores by reporting their good payment history to the top consumer credit bureaus in the country. This means you look good every time you make a payment; the more on-time payments you have, the better your credit score looks. Before you know it, you’ll be back where you started!

Lots of payment options make it convenient for you.

Not only do you get on the lot car financing at the buy here pay here car dealership. You also make your payments directly to the dealership. These dealerships typically give you many ways to make payments, making it easy and convenient for you. AutoMax gives customers the following ways to pay:

  • Automatic payment on a debit card
  • Automatic withdrawal from your checking account (ACH)
  • U.S. postal service (snail mail)
  • Phone
  • Text message
  • Online payment portal
  • In-person at the dealership

Call AutoMax for On the Lot Car Financing - Even with Poor Credit

It’s easy to get an auto loan - even with poor credit - when you know where to look. In North Carolina, people with bad credit in Raleigh, Durham, Henderson, and Youngsville will benefit from a visit to AutoMax. Stop in today or visit online to pick out your next used vehicle. Buying a used car has never been simpler!