A car is a necessity for modern-day life. From basic transportation to family road trips, owning a car is the pinnacle of the American Dream. However, achieving your dream of owning a car can become much more difficult when you have bad credit and a poor credit history. It is important to be aware that not all dealerships work with customers that have bad credit.
Many dealerships offer “in-house” financing, which is where the dealership acts as the bank and lends you the money to pay for the car.
However, as a buyer with poor credit, it is essential to be wary of certain dealerships that may seek to take advantage of your situation by providing you with unreliable transportation, a predatory loan, etc.
Here are some steps to find a trustworthy dealership in your area that can work with your limited financial situation:
Searching online for dealerships is nothing new, if you simply type in “car dealerships” into Google, you are sure to be bombarded by various dealerships in your area. However, if you are car shopping with poor credit, most of these dealerships will be unlikely to work with you.
If you search online, be sure to Google keywords such as “Car dealerships Los Angeles poor credit”. Searching for this will display dealerships that have either a review or portion of their website that indicates they work with “poor credit”.
Credit Unions and Banks
A credit union is a great source to get a car loan and to also obtain a referral to a dealership that may work with people with poor credit. Ask an auto loan agent at your local credit union about any dealerships in your area that may offer cars to people with poor credit.
Most credit unions and banks have business relationships with dealerships in your area and can connect you to a dealership that can work with your situation.
Create a “thread” online asking locals in your area to help you find dealerships that work with bad credit. Often times, you will find somebody who was once in a similar situation that can help guide you in the right direction.
Overall, shopping for a vehicle with poor credit can be a daunting task. From constantly searching for lenders and budgeting the right amount, car buying is a draining experience. Be sure to use all your resources to ensure that you are finding the best car with the least expensive loan as possible.
If you are looking to buy a new car but are in need of financing, CrediReady can help. Our nationwide network of trusted dealers and verified lenders work with buyers in all credit situations. Take a moment to fill out our free no-obligation loan inquiry form and start shopping for your dream car today!