All About Car Financing For Bad Credit

Do you have bad credit? Is your poor credit score keeping you from being able to borrow the money you need to buy a car? If so, then you should know our Totowa, NJ car dealership can get you approved for financing on a reliable vehicle, no matter what your credit history looks like. We base your auto loan approval on three simple factors:

  1. Your current monthly income
  2. Whether you have a valid U.S. driver's license
  3. If you are 18 years or older

As long as you meet the minimum criteria, you can rest assured that we will get you approved for an auto loan in no time.

Your Bad Credit Car Financing Options

While many people with poor credit are turned down for traditional bank loans, there are plenty of other options when you work with Jersey Car Credit. Specifically, bad credit car dealerships such as ours can assist you with getting auto financing for people with less than stellar credit. Whether you are looking to buy a new car with bad credit, or are even interested in bad credit car leasing, it is important to realize that you have options.

We have helped hundreds of people who have experienced tough financial situations get the loan they need to purchase their next car, truck or SUV, including:

bad credit auto loans

And the process is simple, just fill out our online application to see how much you qualify to borrow and you could be driving your next automobile tomorrow.

Of course, financing is not the only thing that a bad credit car dealership can help you with. Here, we also offer assistance when it comes to helping you refinance an auto loan with bad credit and bad credit car leasing. In this sense, we can help you to get lower monthly payments on your existing car loan by providing options for refinancing your auto loan, regardless of your financial history. If you do not want to be tied down with the commitment of buying a car, we can even look into leasing options for you. This gives you the convenience of having a reliable vehicle, without the hassle of dealing with regular maintenance and worrying about depreciation.

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Different Types of Auto Loans for Bad Credit

There are many different types of auto loans for poor credit depending on where you turn. If you have a bad credit score, such as a 600 or less, then the chances are pretty good you will be unable to get approved for a traditional bank loan. On the other hand, it is possible to get a car loan with a 500 credit score, which is as low as credit scores come, by going through a dealership loan.

With a loan through, we are happy to take on high risk auto loans because we believe everybody in North Jersey deserves a second chance and a reliable vehicle to:

  • Drive to work
  • Travel to school
  • Run every day errands
  • Meet other life obligations

For this reason, we offer the best fresh start auto loans around. Specifically, our $5,000 bad credit auto loans have repayment terms that are tailored to meet just about any budget. Not to mention, as you work on paying off your bad credit auto loan by making timely repayments, you can enjoy rebuilding your credit score in the process. Our auto loans for poor credit really are designed to help you both in the short and long term.

Car Dealers for No Credit and Really Bad Credit

Of course, guaranteed auto loans for people with poor credit are not the only type of loans that we specialize in offering to our customers. We also offer first time car buyer loans, for those who may not have an established credit score as of yet. This is ideal for those who have just turned 18 and are still working on building a credit history. By working with no credit car dealers in Totowa, NJ, those without a credit history can immediately begin building a solid credit score by making timely repayments on their auto loans in the required amounts. This is a type of loan that you simply cannot find through traditional banks and other major financial institutions.

The reason for this is because, unlike major banks, buy here pay here used car dealers do not have Federal lending regulations imposed upon them. As a result, they are to use their own discretion to decide whether an applicant should be approved for car financing. Because dealerships only make a profit if they can sell cars, they want to do everything they can to get people into cars with affordable monthly payments. This is why dealerships such as ours are able to offer such great borrowing options for first time car buyers and those with poor credit alike.

Tips on Buying Used Cars with Bad Credit

If you are thinking about taking advantage of any of the above options when it comes to finding cheap car loans, then there are some simple considerations that you will want to keep in mind as a way of ensuring that you can get the best deal on your next car.

buying used cars with bad credit

Learning how to buy a car with bad credit is an important first step, as the process is a bit different than one that a typical bank would require. Specifically, bad credit used car dealerships will allow you to completely skip the credit check process that is typically required. Instead, however, you should expect that you will need to provide some basic information and proof of income in order to get approved for a car loan. This may include documentation such as a pay stub or W2. Bank statements can also be used as a way of proving one's regular income.

Furthermore, if you are currently employed, you will want to provide proof of this as well. This could be as simple as providing the dealership with your employer's phone number. The key is that the dealership needs to be able to verify that the income and employment information you report is correct. This way, they can get you an easy approval as soon as possible and you can get into your new or used car without delay.

If you are looking for used cars for sale with bad credit, you should also follow some simple steps to make sure that the car you buy is ultimately the best choice for you in terms of reliability and cost.

  • First, fill out our bad credit auto financing application to see how much you can borrow
  • Based on this number, determine what kind of monthly budget you can comfortably afford and be sure to include related expenses such as insurance and fuel in this amount.
  • We'll schedule an appointment for you to come and test drive vehicles you are interested on our used car lot so that you can get a feel for which one is best for you.

As you can see, there are a number of options out there for people just like you with less than perfect credit or no credit history at all. Before you get discouraged by being denied for a traditional auto financing from a bank, just remember there are ways of receiving guaranteed auto financing to meet your needs and get you into a reliable, affordable car. When it comes to the best options for bad credit auto financing, you can always rely on Jersey Car Credit.

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