Besides new car rebates and dealer cash even if you have questionable credit it could also be where you work or who you know you might qualify you for an additional discount that could make an auto loan even more affordable
What we know
There is the possibility that consumers with poor credit that are either employed by an automobile company or one of their suppliers or have family members or friends at one of these companies might be able to take advantage of additional incentives if they qualify for a new car loan.
Here at Auto Credit Express we’re familiar with these programs for a couple of reasons. One, for more than two decades we’ve been helping consumers with problem credit searching for online auto loans find those dealers that can give them their best opportunities for loan approvals.
Secondly, we’re located in southeastern Michigan – an area where the three domestic automakers are headquartered and home to hundreds of supplier companies where thousands of people are employed in the automotive industry.
So you can take our word for it especially if you’re someone looking for good deals on new cars with bad credit.
New car discounts
Because of the higher costs related to purchasing a new car, most credit-challenged car buyers will choose a used car. But some consumers, if the lender determines they qualify, might discover that financing a new car might be nearly as affordable.
Specifically, if that person is a Ford employee, retiree or a friend of a Ford employee or retiree (A-plan, S-plan or X-plan) a Chrysler employee, retiree or a friend of an employee or retiree or works for a supplier company (Employee Advantage employee purchase, friends program, affiliate company program), or a GM employee, retiree or preferred supplier or even the friend of a preferred supplier (GMO, GMS), he or she can use one of these discounts to reduce the selling price of an eligible new vehicle.
But it gets even better. In addition to any of these discounts, in most cases buyers can also deduct any advertised new car incentives (customer cash and dealer cash – although military discounts can usually not be added) from the employee, employee family, employee friend or supplier discounted price for an even better price.
Using the special pricing
So if you qualify for one of these new car discounts, can you always take advantage of it?
It’s a good question because just qualifying for one doesn’t always mean it can always be used. Here’s why:
Employee program issues
Even if the applicant qualifies for a loan and has received an approval, the guidelines outlined in the payment call sent over by the lender have to be followed. Quite simply, this means that once the lender has determined a vehicle budget and interest rate, it’s up to the special finance manager to determine which cars in inventory meet those requirements – including whether or not any new cars that are eligible for any special manufacturer discount programs fall within the lender’s guidelines.
The fact is, in some cases they will and in some cases they won’t.
Something that also must be considered is that all these discount programs are manufacturer specific. Since many new car dealers aren’t willing to work with customers that have credit issues, qualifying for one of these discounts really depends on whether or not that franchised new car dealer has an effective special finance department.
How we can help
If you’re faced with any of the above issues, there is a way of improving your chances of at least getting an auto loan approval.
That’s because Auto Credit Express matches people that have experienced car credit difficulties with those new car dealers that can offer them their best chances for approved auto loans.
So if you’re ready to reestablish your auto credit, you can begin now by filling out our online auto loan application.