Not everyone in this world has great credit, but for those that need to get around town, a car is an absolute must. If you don’t have the greatest credit, you’re probably going to find that it’s going to be awfully hard to get a card because of your credit score. Fortunately, I’ve thought of a few ways on how you can buy a car, even when you have lousy credit.
You may have to buy cheap: When you have bad credit, you’re going to find that you can’t go out there, and buy that $70,000 land rover. Instead, set your budget straight, and buy a car that is within your means. This means that you should be looking at $2,000-$5,000 cars.
How bad is your credit? You may think that your credit is bad, but it may not really be compared to most of those in the United States today. Get a copy of your credit report, and see how bad your credit score truly is. If your score is below 500, you’ll find that it’s going to be very hard to get a loan from just about anyone.
Run your score once: Don’t go to 10 different dealers, and let them run a credit check. This is going to hurt your credit score even more whenever a company inquires about a score. Instead, check it yourself, and when you potentially find a place that’s worth buying from, let one person run that check.
Don’t pay full price: If you find that you can’t afford a car that you end up finding that you like, try and work out a deal with that dealership. Explain your situation, and see what they can do for you.
Get a co-signer: If you can find someone that you trust, you may want to get someone to help you out with your loan. If you can find someone to co-sign, that would be great, but if you can’t, you may have to simply just pay with cash. This means that you should save up, and find an alternative ride.
Credit challenges affect a lot of Americans, and there’s only so much you can do about. If you can save up the cash, do that because that is generally the best way to go. If you want and need a car now, you may have to borrow, or even car pool if you can’t find any dealer to lend to you.