When John's car broke down a week ago, he was in a panic. Unsure of how he was going to make it to and from work, his life became extremely unpredictable and stressful. Although John likes spontaneity and adventure, this is not exactly what he had in mind.

new car, used car, bad credit

So, he was now in the market for a new vehicle. Because of his bad credit, John was worried about what he could actually purchase this time around. The last time John bought a car was quite a few years ago - he had always bought new. Based on what his friends who have bad credit had gone through with buying cars, he expected his only options to be used vehicles - although he really wanted to purchase of a brand new car.

Of course, John only really knew the superficial level of his friends' financial situations. In other words, he just knew their credit was bad. But he also knew that they had gone to Auto Credit Express, so he was already on the right path.

The New Car Surprise

After John had submitted the application to us, we arranged a meeting time with a car dealer close to his work. When he arrived, he was surprised to learn that he was approved to buy a new car.

You might be surprised to hear this as well. The reason for this is because not all bad credit is the same. John had what is referred to as "Good-Bad" credit. His only issues were a past collection, which only happened because he was temporarily unemployed. In addition, his last car was completely paid off.

Because of this, he was able to get into an affordable 2015 Ford Focus. And while he didn't need to make a down payment, he had some money set aside to provide for one, which reduced the amount he needed to borrow for the car.

The Different Types of Bad Credit

Of course, like his friends, not everyone can be fortunate enough to get this kind of deal. If you have things such as delinquent accounts, multiple bankruptcies or a history of writing bad checks, you have what is known as "Bad-Bad" credit. In these cases, you will not only have a more limited vehicle selection, but stricter approval requirements such as a mandatory down payment.

It Doesn't Have to Be Hard

Fortunately for John, he came to Auto Credit Express. Had he gone to a traditional dealership, he could have had a much harder time getting approved for his auto loan. If you are in a similar situation to John's - or worse - we can help. All you need to do is fill out the quick and easy online financing application, and then we will contact you to set up a meeting time with the dealer in your local area that can help you. Who knows, a new car just may be in the cards for you, too!