If you're searching for a car, you probably want to be as prepared as possible when you find the dealership that can approve you for an auto loan. For bad credit car buyers, one of those steps is having a list of references ready to present to your potential lender.

When you have a solid credit history, having a dealer request a list of references is rare. But when you are working with a dealership that specializes in alternative auto financing, they look at factors outside of your credit to determine your reliability as a borrower. One of the ways they do this is by collecting a list of references from you.

What Makes a Good Reference?

References, Financing, Auto Loan, Bad Credit

Many auto lenders require six references. At this point, you may be concerned about exactly who you would put down as a reference. While the lender is just looking for people who know you, it’s a good idea to have a nice mix of professional, family and friend contacts on your reference list. As with anything else, put your best foot forward.
Now, of course you will need some basic contact information for each person, such as their name, address and home or work phone number. Most people don't answer the phone unless they're expecting a call, so as a best practice, contact each person you plan on using as a reference to ask their permission as well as let them know that a  lending company might be calling to verify that they indeed know you.

Since getting approved for financing is often the most lengthy and essential part of purchasing a vehicle, you should have all of your information in order before you arrive at the dealer. The more information you have on hand for the lender, the quicker the process will go.

Preparing for Success

The team here at Auto Credit Express has helped millions nationwide find the bad credit car dealerships that could get them approved for auto financing, and we can do the same for you. If you're ready to make that purchase, complete the online application and we will contact you to arrange a time to meet with the car dealership that can give you the best financing opportunities.