Using Auto Employee Discounts with Approved Auto Loansby Steve Cypher on Saturday, February 11th, 2012
Credit challenged auto company employees and others can often get an extra discount even when financing with poor credit car loans
New car employee discounts
In states with auto companies of their suppliers we often get asked if these discounts can be used with terrible credit auto loans.
Because we’re based in Michigan and we’ve been involved in bad credit auto sales for the past twenty years we can answer that question here at Auto Credit Express. We even dedicated a portion of our website as a result of this and other questions so that we could share information on gap insurance and tip income as well as today’s topic, auto employee new car discounts and bad credit auto loans.
Auto employee new car discounts
With the high cost of new cars, buyers with bad credit typically pick a low-mileage used car. But there are some applicants who might find that financing a new car can be nearly as affordable.
Specifically, if an applicant is a Chrysler employee, retiree or a friend of an employee or retiree or work for a supplier company (Employee Advantage employee purchase, friends program, affiliate company program), Ford employee, retiree or a friend of a Ford employee or retiree (A-plan, S-plan or X-plan) or a GM employee, retiree or preferred supplier or even the friend of a preferred supplier (GMO, GMS), that individual can use one of these discounts to reduce the selling price of an eligible new vehicle.
In most cases, bad credit buyers can also deduct a manufacturer’s new car incentives from the discounted price for even greater savings.
But qualifying for one of these discount programs doesn’t mean it automatically applies to any bad credit car loan.
Auto employee discount issues
Even if you qualify, having approved auto loans with bad credit means you need to follow certain guidelines set by the lender. In this instance it means that once the lender has determined your vehicle budget and interest rate, it’s up to the dealership to show you the cars that fit those requirements.
In this case it means that the finance manager has to determine whether a new car eligible for one of these discounts falls within the lender’s guidelines. The fact is, in some cases it will and in some cases it won’t.
Another issue you’ll have to face is that not all new car dealers work with individuals with bad car credit.
We can help
Auto Credit Express can match you up with a dealer that specializes in approved auto loans for a wide range of credit situations.
So if you’d like us to help you get your auto credit back on track, you can begin now by filling out our online auto loans application.