Bad Credit Auto Financing: How to Buy A Car with Poor Credit
If your credit history is "bumpy" or you're recovering from a bad credit, you've no doubt seen ads like the one below.
"Bad credit? No Credit? No Problem!"
And it's true. You can buy a vehicle is your credit history has been rocky. The problem with these types of Harrisonburg auto loans is the interest rate. They're outrageous.
And that's the problem. High interest rate car loans make it difficult to build any equity, much less recover from a poor credit rating. Plus, some bad credit specialists will saddle you with a loan that's designed to fail, resulting in repossession of the vehicle.
Why? For the disreputable dealer, repos are a significant source of income.
Getting A Decent Car Loan When You Have A Bad Credit History
The first step in getting a good auto loan is to know your credit score. At Joe Bowman Auto Plaza, you can estimate your credit score right on our site. If you want to get a detailed report, go to AnnualCreditReport.com.
By federal law, credit bureaus must give you a free copy once per year. Check all three bureau reports-Equifax, Experian and TransUnion-for errors or negative information that's more than 7 years old. If there are any problems, AnnualCreditReport.com has online tools to help correct the errors.
Once the errors have been corrected, it's wise to buy a copy of your credit score. (Federal law doesn't require credit bureaus to give them to you for free.) But you can get a copy for about $20 from Equifax or MyFico.com.
Knowing your credit score will help to protect you from dishonest dealers seeking to take advantage of your poor credit history.
Advantages of Bad Credit Auto Financing with Joe Bowman Auto Plaza
At Joe Bowman Auto Plaza, we've been helping all kinds of people get the wheels they want for 60 years, and that includes those with poor credit histories.
We have an excellent reputation with local banks and with the community at-large. So, if you choose to get financing through a bank, the process will be a smooth one.
However, for those with bad credit, it's not always easy to get finance a vehicle through a bank. That's where we can be of service to you.
We have a large network of lending institutions we work with that allows us to find the lowest possible auto rates possible. That's a plus for anyone who's buying a car!
But for those with poor or bumpy credit, it's a huge advantage. With our Second Chance Credit Program, we shop around to find an interest rate that isn't exorbitant, allowing you to build equity and rebuild your credit.
We also break down the terms of the loan so that you have a clear understanding of your loan obligations. And we offer special financing for high mileage vehicles. Most banks won't.
Secondly, we offer simple interest car loans. If you want to pay ahead on your loan, you can! There are no pre-payment penalties.
Third, for our used cars and trucks, we offer 30 or 90-day warranties, depending on the mileage and year of the vehicle. (For new vehicles, a manufacturer's warranty is standard.) And all of our used cars must pass a rigorous 75-point used car inspection checklist.
If mechanical issues are found, we correct them, making sure, to the best of our ability, that the car is in tip-top shape.
And finally, we continue our good customer service after the sale with courtesy transportation when your vehicle is in the shop.
Get lifetime FREE inspections with your car vehicle for as long as you own it. And get preferred service scheduling. If there is a scheduling issue between two vehicles, the one that bought their vehicle from us takes priority.
Recovering from a bad credit history takes time and diligence. If you're willing to do your part to clean up your credit, we're here to help!
 To learn more about us, please visit our site: www.joebowmanautoplaza.com.
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