If your auto credit is less than perfect often the biggest problem is finding a dealer that will work with you
Auto financing for all
Car shoppers with low FICO scores often have difficulty finding a dealer that can arrange for approved auto loans.
At Auto Credit Express we are very familiar with this situation because we’ve been helping buyers with poor car credit for over two decades. Our experiences even led us to develop a web site that contains information and tutorials on topics ranging from tote the note loans to today’s subject: what we think is the easiest way to locate a car dealership that’s willing to work with customers with credit issues.
While it’s easy enough to find used car lots that work with bad credit buyers and advertise “auto financing for all”, most of these turn out to be buy here pay here dealers – places where practically anyone can get financed, but who also won’t report car loans or payments to the credit bureaus. While these buyers will have at least temporarily solved their transportation issues (a high percentage of these loans end in repossession), their credit reports won’t reflect a car loan and most will find themselves in the same situation the next time they need a car.
Another issue has to do with size. Since most tote the note dealers are small used car lots not affiliated with a new car franchise, the vehicles they offer typically consist of older, high-mileage cars that may be unreliable and are covered (if at all) by a very limited, short-term warranty.
Likewise, many new car dealers don’t want the problems associated with customers with credit issues. In all fairness, however, we should point out that unlike traditional car finance, dealing with subprime auto lenders requires special training for dealership employees. Dealers also have to stock the right types of vehicles and, consequently, many don’t have the experience or the patience to maintain a special finance department.
Online car loans
The internet not only has changed the way consumers shop for cars, but also how buyers with limited auto credit (and even low credit scores) can find the right dealer.
For instance, websites like ours match the needs of customers with dealers that work with a broad range of lenders. These franchised new car dealers offer a number of advantages over those small in-house financing car lots including:
1. Much larger inventories of eligible vehicles
2. Vehicle inventories consisting of new or newer used vehicles with lower miles (due to stricter lender requirements)
3. Vehicles (most) eligible for an extended warranty covering most of the loan term, helping to avoid potentially credit-damaging repair bills
4. Lenders that report loans and payments to the credit bureaus allowing you to establish your car credit while helping your credit scores.
The next step
Auto Credit Express helps people with credit issues find a dealer for their best chance at approved auto loans.
So if you’re serious about getting your credit back on track, you can begin now by filling out our online auto loans application.
Get your free credit score now! Get a copy of your most recent credit score.
Are you paying too much on auto insurance? Compare rates in your area and save.