Our primary goal at Auto Credit Express is to help car buyers with credit issues get the financing they need. We also provide resources and information about auto loans, the car buying process and credit repair.
Often, our customers offer us opportunities to discuss specific topics by sending us questions. And one question that we frequently receive is, "With your service, do I have to go through a dealership to get a car loan or can I purchase from a private seller?"
This is a great question, and our answer will cover two very important details about the service we provide: 1) Our process and 2) Why our method offers the best car buying solution for bad credit car buyers.
First, here is the simple answer: We only work with qualified and fully licensed dealerships. We do not offer assistance with financing for private seller car purchases, and there are very good reasons for this.
Why We Don't Finance Private Seller Purchases
If you have damaged credit, you may not be able to get approved for an auto loan by a bank or credit union. However, there are lenders out there who are willing to work with borrowers with bad credit. Often called "special finance lenders," these companies look at factors other than your credit score when making approval decisions.
For example, you may have a lower credit rating, but maybe you have had the same job for a year or more and can prove that you bring in enough income to support a car payment. Special finance lenders would view these things as qualifying factors for auto loan approval. They may also look at your residence stability and current financial obligations.
So, if you are a buyer with less than perfect credit, your best chance to get financing will be through one of these specialized lenders. However, these lenders usually only provide auto loans through a qualified dealership. This is why we only work with dealerships when we assist our customers with financing solutions. We know from a lot of experience that, as a subprime buyer, the easiest and fastest way for you to finance a vehicle is through a licensed dealer and with a special finance lender that this dealer has a relationship with.
All of the pieces work together.
Building Good Credit with a Bad Credit Car Loan
On the other hand, if you try to do business with a private seller, it is unlikely that this seller will have any connections to the kinds of lenders that can actually help. We are also unable to vouch for this seller or the quality/reliability of the vehicle they're offering. Because we value our customers, we only want to send them to trusted, highly-rated dealerships who sell quality vehicles, where we know they will be treated fairly and with respect.
Of course, you could pay cash to a private seller for an inexpensive car, but that would do nothing to improve your credit situation. And this brings us to our second goal as company: We want to help you fix your credit.
How a Bad Credit Auto Loan Can Improve Your Credit
Unlike a lot of companies, we don't want you to be our customer for life. A big reason why we provide the service that we do, as well as all of the resources and information, is to help you repair and rebuild your credit. Our hope is that you will use the opportunity that your bad credit auto loan will provide to mend your credit to the point that you will be able to finance your next car with ease.
How will your credit improve with your loan? Your timely payments will be reported to at least one of the three primary credit bureaus (TransUnion, Equifax and Experian), and your credit rating will gradually increase as you pay off your auto loan. This is a vital part of the service we provide. Yes, we want to help you get the affordable and reliable car you need right now, but we also want to make it possible for you to improve your situation.
A car purchase from a private seller won't give you your best shot at having these things. And that's just not good enough for us. This is why we do what we do, using the process that we've been perfecting for over two decades.
The Car You Need and a Second Chance for Your Credit
When you're ready to get back behind the wheel and on the road to good credit, we're ready to help. We can match you with a dealer in your area who is qualified to work with your situation. Another great thing about our service is that it is absolutely free. So, you have nothing to lose by filling out our fast and completely secure auto loan request.
Start today and you could be driving as soon as tomorrow.