If you’re ready to find a new vehicle, it might be difficult when you’re contending with a bad credit score. Most traditional lenders like banks and credit unions are unable or unwilling to offer bad credit car loans, which makes it even trickier to land the vehicle that you need. If you’re in need of a car loan but you have bad credit, consider opting for dealer financing. Here are a few of the top reasons to ask your auto dealership about financing.
They’ll Work With Bad Credit
You might be a little hesitant to go to a car dealership for bad credit car loans. However, this could be a great option if you’re struggling to find financing elsewhere. Car dealerships are aware that not everyone has a sparkling credit history, but they’ll work with you to find reasonable loan terms that you can afford. Car dealerships are often willing to sit down and have a conversation with you about your credit history and what you can afford to find the best possible loan terms for your situation.
It’s a hassle to secure bad credit car loans at another financial institution and work out the details at your car dealership. When you opt for financing from the dealership itself, you make the process much simpler and stress-free. This way, you can avoid making extra trips to several different locations and handle the test driving and purchase process all in one day.
You Might Qualify for Discounts
Some car dealerships offer rebates or discounts for members of the military or recent college graduates. Most banks don’t offer any appealing incentives for those with bad credit, no matter what your situation is. If you’re a recent college grad or you believe you might qualify for other discounts, ask your car dealership if they’re able to offer a discounted price or better terms on bad credit car loans.