Consumers with checkered credit are far more likely to get stuck financing a vehicle with hidden damage than other buyers. By following all the above steps they can prevent this from happening.
Buying a used car doesn’t have to be a scary or stressful experience. Just make sure that you get detailed information from your dealer so that you’ll be able to make the best choice possible, and that you won’t have any unpleasant surprises come up down the road.
If we are reading the Manheim report correctly, despite the fact that the used car market is stronger, those vehicles most appropriate to borrowers with poor credit are, at least at this point in the year, more affordable than they were last year. So if you find yourself in this position, now might be a good time to make your move.
If you have damaged, credit, a certified pre-owned vehicle may be a good option for you to consider. While you will pay a little more than you would for a “regular” used car, the peace of mind that you will get from the purchase may be worth the higher price tag.
Since certified used car programs differ from manufacturer to manufacturer, it pays to do your home work before choosing a vehicle – especially if you have poor credit and are on a tight budget. Thanks to the editors at Autotrader, this process has been simplified, making it easier for consumers to make a buying decision.
Consumers, especially those with tarnished credit, should avoid used cars with poor reliability as the odds of paying for costly repairs on top of a monthly car payment increase for these vehicles.