When it comes to getting a new vehicle, bad credit can be the biggest roadblock to getting on the road.
Whether you fell behind on loan payments, went through a divorce or simply never established a line of credit to begin with, credit issues make getting a vehicle almost impossible in this day and age.
However, there are still ways you can get a reliable used vehicle, regardless of your credit.
One of these ways is an on the spot financing dealer, which can be the right fit for a variety of reasons.
When it comes to getting a used vehicle, on the spot financing can present a valuable and helpful option.
Unlike a bank or a high-end used car dealer which requires a strong, established line of credit for car purchases, on the spot financing allows dealers to offer vehicles to individuals who suffer from credit issues.
There are many reasons on the spot financing dealers (also known as "buy here, pay here" dealers) can be the best choice for a used car purchase.
For one, many on the spot finance dealers offer a low down payment and low monthly payments, which means car buyers have a better chance of keeping up with their payments.
This also means that, rather than saving up as much money as possible for weeks or even months to afford a high cash down payment, you can get driving almost immediately, and for many dealers, that same day! Some dealers even offer weekly, bi-weekly or semi-monthly payment options so your payment is due on or near your payday to help with budgeting.
This helps you make your payments on time even easier, which helps improve your credit.
Another reason an on the spot financing dealer can be the right choice is that some dealers will report your on-time payments to credit bureaus, which can help raise your credit score.
Although not every buy here, pay here dealer offers this service, some of the more trustworthy dealers do.
Be sure to do your research before you purchase your used vehicle so you are able to buy from a dealer who provides this service.
Finally, depending on the dealer, some on the spot financers offer a warranty with vehicle purchases.
Although it is rare, some even go so far as to offer warranties that cover engine, transmission and drivetrain repairs.
Be sure to search for a dealer that offers this service, as there are many who do not.
Overall, bad credit does not mean you will never get a used vehicle.
It simply may mean that an on the spot financing dealer is your best option.
So if you suffer from bad credit or have no credit at all, be on the lookout for the right used vehicle dealer and you just might be driving before you know it.
Whether you fell behind on loan payments, went through a divorce or simply never established a line of credit to begin with, credit issues make getting a vehicle almost impossible in this day and age.
However, there are still ways you can get a reliable used vehicle, regardless of your credit.
One of these ways is an on the spot financing dealer, which can be the right fit for a variety of reasons.
When it comes to getting a used vehicle, on the spot financing can present a valuable and helpful option.
Unlike a bank or a high-end used car dealer which requires a strong, established line of credit for car purchases, on the spot financing allows dealers to offer vehicles to individuals who suffer from credit issues.
There are many reasons on the spot financing dealers (also known as "buy here, pay here" dealers) can be the best choice for a used car purchase.
For one, many on the spot finance dealers offer a low down payment and low monthly payments, which means car buyers have a better chance of keeping up with their payments.
This also means that, rather than saving up as much money as possible for weeks or even months to afford a high cash down payment, you can get driving almost immediately, and for many dealers, that same day! Some dealers even offer weekly, bi-weekly or semi-monthly payment options so your payment is due on or near your payday to help with budgeting.
This helps you make your payments on time even easier, which helps improve your credit.
Another reason an on the spot financing dealer can be the right choice is that some dealers will report your on-time payments to credit bureaus, which can help raise your credit score.
Although not every buy here, pay here dealer offers this service, some of the more trustworthy dealers do.
Be sure to do your research before you purchase your used vehicle so you are able to buy from a dealer who provides this service.
Finally, depending on the dealer, some on the spot financers offer a warranty with vehicle purchases.
Although it is rare, some even go so far as to offer warranties that cover engine, transmission and drivetrain repairs.
Be sure to search for a dealer that offers this service, as there are many who do not.
Overall, bad credit does not mean you will never get a used vehicle.
It simply may mean that an on the spot financing dealer is your best option.
So if you suffer from bad credit or have no credit at all, be on the lookout for the right used vehicle dealer and you just might be driving before you know it.