How to Apply for a Car Loan with Bad Credit

Don't buy a bad car with a bad loan from a bad dealership just because you have bad credit. 
Here are some tips and to do's that can save you money and time.
PICK YOUR DEALERSHIP WISELY
  • SOME DEALERSHIPS ARE JUST NOT THAT GOOD AT SUBPRIME LENDING, SUBPRIME LENDING IS BASICALLY THE BANKING INDUSTRIES DEFINITION OF BAD CREDIT OR NO CREDIT. IF THE DEALERSHIP HAS A SPECIAL FINANCE MANAGER THAN THEIR EXPERIENCE WITH SUBPRIME LENDING WILL GIVE YOU THE BEST CHANCES AT GETTING APPROVED.
  • MAKE SURE THE DEALERSHIP IS A REPUTABLE BUSINESS WITH GOOD REVIEWS ONLINE, IF THEY DON'T CARE ABOUT THEIR REPUTATION THEY DON'T CARE ABOUT THEIR CUSTOMERS POINT BLANK, STAY AWAY
  • IF THE DEALERSHIP DOESN'T SPECIALIZE IS SUBPRIME FINANCING CHANCES ARE THEY DON'T HAVE THE RIGHT BANKS IN THEIR PORTFOLIO TO GET YOU APPROVED

PICK YOUR CAR WISELY

  • OLDER DOES NOT MEAN LESS EXPENSIVE, A COMMON MISCONCEPTION IS THAT OLDER CARS HAVE LOWER PAYMENTS BECAUSE THE PRICE IS LESS. ACTUALLY NEWER CARS STILL UNDER FACTORY WARRANTY HAVE BETTER FINANCING TERMS. OLDER CARS ALTHOUGH THE PRICE IS LESS HAVE SHORTER TERMS AND MAY NEED TONS OF REPAIRS IN THE NEAR FUTURE, NOT TO MENTION POSSIBLY THE SAME PAYMENT AS A NEWER CAR.
  • MAKE SURE THE DEALER SHOWS YOU THE CAR-FAX, THE LAST THING YOU WANT IS A CAR THAT HAS A BRANDED/RECONSTRUCTED TITLE OR A ROLLED BACK ODOMETER. CAR-FAX WILL SHOW THINGS LIKE THIS AND INFORM YOU.
  • HAS THE VEHICLE BEEN THROUGH A SAFETY CHECK? DOES IT NEED TIRES OR BRAKES? AGAIN THIS GOES BACK TO DOING BUSINESS WITH A REPUTABLE DEALER.

PICK YOUR BANK WISELY

  • TRY TO GO THOUGH A REPUTABLE CAR DEALERSHIP WITH GOOD ONLINE REVIEWS EVEN  BUYING A USED CAR BECAUSE THESE DEALERSHIPS WORK WITH NATIONAL BANKS THAT REPORT YOUR PAYMENT HISTORY, IN OTHER WORDS BUY HERE PAY HERE LOTS WILL NOT REPORT YOU GOOD PAYMENT HISTORY HENCE NEVER MAKING YOUR CREDIT ANY BETTER AFTER MAKING THE PAYMENTS ON TIME.

WHY BUY FROM US?

  • WE HAVE A GREAT REPUTATION.
  • WE SPECIALIZE IN SPECIAL FINANCING.
  • WE HAVE THE LARGEST PRE-OWNED SELECTION IN BALTIMORE. THEY ARE 2015 OR NEWER AND MOST ARE STILL UNDER FACTORY WARRANTY.
  • WE CARRY ALL MAKES AND MODELS
  • WE HAVE OVER 25 BANKS IN OUR NETWORK.
  • WE CAN USUALLY GET YOU APPROVED WITH $0 DOWN OR VERY LITTLE DOWN