3 Situations That May Necessitate Getting a Car Loan

Like many people, you may not think about car loans until you’re in scenarios that make them necessary. There are several situations that are well suited for vehicle financing.

A College Graduate Getting a First Car

Once a person graduates from college, he or she may want to celebrate the milestone by getting a first car. Up until that point, the individual may have just used a parent or friend’s car, so vehicle ownership is a major improvement.

A person who is in the early stages of adult life and has just earned a degree is likely not financially able to afford the up-front cost of a car. However, a loan could make the cost manageable.

Having to Replace a Vehicle That’s Broken Beyond Repair

Perhaps you’ve often thought that if your vehicle suddenly broke down, it’d be very difficult to maintain your routine. When people find themselves without their sole sources of transportation due to major malfunctions, they often determine that the only way to make a vehicle fit into existing budgets is to apply for car loans.

Our dealership assists people from a variety of financial backgrounds and we know that circumstances can dictate the need to buy a car quickly. Talk to our financing experts if that’s the case for you.

Buying a Vehicle to Meet the Needs of a Growing Family

Maybe you’ve just found out you’re expecting the arrival of triplets in less than a year. If that’s the case, your two-seater sports car just won’t suffice for family travel needs.

Also, due to the additional costs of getting ready for those new arrivals, your budget probably isn’t flexible enough to pay for the whole cost of a vehicle immediately. A loan could let you find a larger car while enjoying peace of mind.

These are just some of the many situations that make people start the application process for car loans. Visit us today and let us help you with financing.

Looking At Wants and Needs

Want to buy your dream car with all of the bells and whistles? Many car buyers attempt to purchase a luxury vehicle with all of the latest features and options, but simply cannot afford the high price tag that comes along with it. Interestingly enough, there is a way that you can get a beautiful, quality used car with the options you need, and still be able to afford the monthly payments.

The first step is comparing your personal needs and wants with a used car. You may not be able to afford a model with an exclusive entertainment system and heated seats; however, you can get a car that has everything you need. Start by separating the features that you need to have in your vehicle to make it functional for you, from the features that you simply want to have.

Although the specific needs that you require in a used car may differ substantially from those of another car buyer, safety features are an important aspect of any used car. Whether you have children or you are the sole driver of the vehicle, make sure that the car has adequate safety features.

Another important need may be the fuel economy. If you drive great distances on a regular basis, you may want to find a used car that offers optimal fuel economy. This will save you money at the fuel pump. Make sure that your used car has a warranty. Since you are buying a used car, you need to determine whether or not the original manufacturer warranty has expired.

Many car dealerships will offer a certified pre-owned warranty or extended-length warranty on used cars. It is definitely reassuring to know that there is some protection on your used vehicle. Juggling your needs and wants with a used car can help you select the best car for your lifestyle.

All of the used car options available makes it simple to select a car that has exactly what you need, and a little of what you want as well, so visit us today!

Getting Approved With Bad Credit

Many people find themselves in the position of having less-than-stellar credit for a variety of reasons. Often, many of these reasons may have nothing to do with an individual’s ability to regulate their spending, or being foolish or wasteful in racking up unnecessary debt. Unfortunately, the credit bureaus do not differentiate between someone who deliberately pays bills late or defaults on obligations, and someone who is trying very hard to keep above water financially, but who has simply fallen on hard times and is trying to make ends meet. Once your credit history becomes speckled with late payments, bankruptcies, or other negative reporting, it can be very difficult to get things going in the right direction again.

It used to be that only the best of the best credit scores were eligible for vehicle financing, while anyone who fell short of that was forced to rely on public transportation, taxicabs, or the goodwill of family, friends, or coworkers. Not having your own car can be exhausting and can limit your freedom in going anywhere, anytime. Wouldn’t it be nice to go out for a night on the town without constantly checking your watch to make sure you can make it home before your public transportation stops running for the evening? In addition, while owning a vehicle comes with certain financial considerations—such as gas, insurance, and maintenance—not owning a car can often cost you a significant amount of money, too. Bus and rapid transit fares can add up quickly. What’s more, limiting your mobility and independence can cost you if you’re looking for a new job.

Bad credit car loans can and do exist. In fact we specialize in getting you approved, no matter what your credit background may be. You don’t have to feel embarrassed—we work with people who come from a wide range of financial backgrounds, and are experts in matching you with a bank or lender that can help. Apply today!

Car Loans Help Dealerships Form Solid Relationships With Customers

It’s not impossible to purchase a shiny brand new car with a poor credit history. In fact, it’s relatively easy if you turn to your local dealership. Dealerships like us are often willing to bend over backwards to help people get the wheels they desperately need. Why is that, you may ask? Well, it has to do with an important and treasured concept in business called customer relationships.

When we help people get bad credit car loans on good terms, we forge very strong relationships with our customers, and these customers often come back to us again and again for their future automotive needs.

We enjoy making people happy and watching the cars they purchase from us enact a positive change in their lives. If you’ve been without your own vehicle for a significant period of time, you may have no idea how much simpler it will make your life. The pace of public transportation in most cities just can’t compare with being behind the wheel of your very own car.

Bad credit car loans will help you get to the point where it’s no longer a struggle for you to pay the bills. Just imagine how nice it will be if you can cut your commute time down by half! When we are able to help people like you make their lives so much easier, we know that we’ve formed a strong business relationship that will last for years into the future. Perhaps you will buy your next car from us five, ten or twenty years down the road.

We often don’t make any money off the loans themselves, but the value of the relationships we have with our customers more than makes up for that. We hope you will turn to us for bad credit car loans and let your new wheels turn your life around in a more positive direction.

3 Ways to Save Money on Your Car Loan

Very few people can afford to pay cash up front for their next vehicle. Most buyers must finance a car through the dealership. Buying a car can be a significant expense, but car loans don’t have to break your budget. With a few minor tweaks to your car payment habits, you can save hundreds or maybe even thousands on your car loan.

Lower Principal

It just makes sense that the best way to save money on a car loan is to borrow less money from the start. Lowering the principal of your loan means you never have to pay interest on the amount you don’t borrow. You can lower your principal by making a large down payment or by trading in your old car. It is also a good idea to only purchase the add-ons that you really want so that you don’t have to borrow as much money for things that seemed like a good idea at first but that you won’t ever use.

Shorter Term

The longer the term of the loan, the more interest you will pay in the long run. It may be tempting to opt for the lower monthly payment, but it will cost more over the life of the loan. As long as you can afford the higher payments that come with shorter terms, that choice is in your financial best interest.

Extra Payments

When discussing the terms of your loan with your dealer, make sure there is no penalty for early payments. That way, if you have extra money one month, you can make an extra payment. Making a regular habit of paying extra any time that you can cuts down on the interest you will pay over time.

Car loans are an added expense, but they don’t have to be a stressful one. By making a few changes in the way you pay off the loan, you can save quite a bit of money.

3 Ways In-House Financing Can Improve Your Credit Rating

Buying a used car is a serious financial responsibility that can impact your budget and credit rating. From making monthly payments to paying for gas, insurance and maintenance, there are many costs to consider. However, if you want to save money on a used car and potentially improve your credit rating, in-house financing may be the answer. We would like to show you several reasons why financing your car in house may be a wiser choice than obtaining a traditional loan.

Flexible Payment Options

In-house financing typically allows dealerships like ours to offer you a variety a payment options. While you may not get the lowest interest rate possible, this kind of financing, where you pay the dealership directly, can help you get a monthly payment that is generally less costly than you might get from a traditional loan. This can help you meet the monthly cost steadily, and payments that are made on time can improve your credit score over time.

Credit Score Improvement

If you have a fair credit score or have only just begun to build your credit, in-house financing can jump-start your score after you make the first few payments. Even a few points can make a difference in qualifying for major purchases, especially if you are on the cusp of fair and good credit. If you are building your credit, a higher score may eventually improve your job prospects and rental opportunities.

An Open Door to Future Good Credit

Using in-house financing to buy a used car can be the first step in establishing or rebuilding your credit. Being responsible with payments will reflect on your credit score and put you back on the road to financial wellness. This can be especially helpful if you are taking other steps to repairing your credit, such as paying off older debt.

In-house financing offers you many financial advantages if you are shopping for a used car. From helping you build credit from scratch to improving your score, you may be surprised at what it can do for you.

Questions to Ask Before Financing a Car

A car can symbolize your independence. Public transportation can be limiting and most people don’t want to have to wait on friends or family members to drive them around. There are a lot of restraints put on people who don’t own their own car. Unfortunately, even when you have magnificent credit many people can be intimidated by vehicle financing. For those with a lower credit score it can be even more daunting. Bad credit car loans are available though. If you’re considering financing a new car, here are three questions you should answer.

Is a Car a Necessity?

The truth is that for most people this answer is going to be yes. Vehicles are not only a luxury. Without them, it can be difficult to have new job opportunities or to transfer the kids back and forth from school. There are a lot of inconveniences that not having a car can have but it can also keep you from carrying out basic errands. Cars generally are necessary.

Have You Shopped Around?

Before you settle on a lender or a car loan, you need to look at all of your options. Make sure to get as many price quotes as you can. You don’t want to settle for a loan that is going to be more expensive and at a higher rate than another would have been. Don’t get locked into anything until you have all of the facts.

Do You Know Your Exact Credit Score?

Knowing your credit score can help you when you shop around. While they will inevitably do a credit check and you may know that your credit is poor, it’s important to have an exact number. Credit scores can change quickly and you don’t want to be up against any surprises after you fill out your application.

Car shopping can be difficult. It’s hard to choose which car fits your lifestyle but even more difficult to figure out which financial plan will be best. When you have poor credit, you need to consider all of your options and know what you’re getting into.

Three Reasons You Should Finance With a Dealership

No matter how low your score is, you can still get great financing with our dealership. Bad credit car loans are available because we want everyone to have a chance at purchasing a new vehicle, regardless of past mistakes. Here are three reasons you should go through this with us rather than a bank.

It Is Incredibly Convenient for You

Our goal is to make things as easy and smooth for our customers as possible. Getting a loan with us will prove to be simpler and more convenient than handling this with a bank or financial institution. You will not only receive financing in one set location, you will also get extended hours and even weekend availability by doing this.

We Offer Special Programs That Others Do Not

We can give you low-rate or incentive programs that bring forth a better outcome overall if you qualify. These typically require you to give us a bigger down payment or sign a shorter contract, but it saves money in the long run. Remember, we are happy to work with poor scores, so be sure to ask us about these offers to see if they are an option for you.

Numerous Ways of Financing Are Available

We have strong relationships with different banks and financing companies in the area. This means you will likely receive a variety of options to choose from when you get a loan with us. We want to be sure you are satisfied with the terms and that both ends are getting the best deal possible. We will do everything we can to make this process positive for you.

Many frown upon financing directly with a dealer, but we are here to prove those people wrong. With our main goal being the customer’s satisfaction, we want to do everything in our power to make you a great offer and make financing a breeze.