Employee Discounts and Bad Credit Auto Loans

Employee Discounts and Bad Credit Auto Loans

Credit challenged customers who work for the auto companies have an advantage when buying a vehicle with a bad credit car loan. At Auto Credit Express, we know that the cost of new vehicles is rising every year. And most credit challenged customers that get approved by one of our dealerships will buy a used vehicle.

We also try to provide our applicants with the information they need in order to make an educated decision about this type of loan. Making the wrong decision could lower their FICO scores even further. And while most of our applicants will conclude that it makes more sense to go with a 2 or 3 year old used car, there are some people that find financing a new car with a bad credit car loan is more affordable than they once thought.

Since our corporate headquarters is located in Michigan, and we have relationships with a great number of consumers as well as retail car dealers in the area, one of the questions we often get at Auto Credit Express is about whether or not an employee of one of the car companies can use their employee discount for a bad credit auto loan. And the answer to that is, yes you can. If you are a Chrysler, Ford or GM employee, or a retiree or a friend of an employee, you can use that particular manufacturer's employee discount to lower the purchase price on any new eligible vehicle on the lot. Remember, the discount applies to the vehicle, not to the financing source.

One thing you must also be aware of is that the employee discount doesn't always work. Even though you are eligible to apply the discount to any vehicle, the bad credit car loan process works slightly different than the regular car loan process. Once the lender determines how much car you can budget for, the special finance department will then give you an idea of the kind of vehicle that fits within the bank's program, and whether that budget includes a new car eligible for a Ford, Chrysler or GM employee discount.

Just because the franchise dealer in your area happens to sell the type of vehicle that qualifies you for the employee discount, it doesn't necessarily mean that the dealer works with the customers who have bad credit. That's why even though you certainly might have a discount certificate, we still recommend that you fill out our online bad credit car loan application first, at AutoCreditExpress.com.