Your credit history is an important part of being able to purchase a car. Not only does your credit allow you to obtain financing, but it will dictate your interest rate as well. Unfortunately, buying a car with bad credit can be hard if you are not looking at the right place, and even if you have income and stable job history, it can feel impossible. At Carson Cars, we offer auto financing for all types of credit! Here are a few used car buying tips with poor credit in Lake Stevens to make it easier.
Why You May Have Bad Credit
- History of late credit card or bill payments
- High debt
- Filing bankruptcy
All of these things that occur are essentially a sign to the lender that you are a risk. They believe that you may default on your loan payments, and lenders want to avoid this because it is expensive to repossess your vehicle. Despite this, bad credit does not have to stand in the way of getting a new car, so these used car buying tips with poor credit should help if you.
Used Car Buying Tips With Poor Credit
- Check interest rates
- Make a large down payment
- Know what you can afford
- Get preapproved
- Read all the paperwork
Check Your Credit Before Shopping
If possible, try to check your credit before you go to purchase a newer car. This will allow you to understand your position before you head to the dealership.
Do Not Make Your Credit Worse
Avoid making your credit worse before you plan to buy. This means you should attempt to pay all of your minimum payments on time, do not take on new credit obligations, or open credit accounts. You should also avoid late rent payments and filing for bankruptcy.
Looking for more used car buying tips with poor credit in Lake Stevens? Contact Carson Cars at (425) 697-6969.