The issues you encounter while searching for a car dealer during troubled financial times don't just include reduced chances of approval and higher interest rates. It also narrows your options of which dealership will approve you.
With so many auto dealerships around you, it may make it seem like finding one that can help you would not be a problem - especially when you come across ones that boast offers that they will finance anyone, regardless of their credit or income. However, the reality is that this makes the job of finding a great dealer you can trust that much more difficult.
Seeking Out a Bad Credit Car Dealer
Finding a car dealership that is qualified to work with bad credit car buyers is a huge task. If you choose to go it alone, you need to be prepared to put the necessary time and energy into it. The process could take weeks, and likely will be filled with completing and submitting multiple applications and enduring many denials in order to find one dealer that will be able to approve you.
However, multiple credit inquiries for auto loans aren’t always bad if they are all within a certain timeframe. If you are shopping around and get approved for a loan within 45 days, your credit rating will not be affected. That’s because all of those inquiries will simply count as one on your credit report. But be aware that it only applies to credit checks for auto loans - any others, such as an application for a credit card or a mortgage, will be counted as additional inquiries.
What this means, though, is that if those weeks turn into months and you are still being denied, the additional inquiries will cause further damage to your score, not to mention all of the time and energy you've wasted. And, by this point, you may be so worn down by the search that you will say yes to any offer that is finally provided to you, possibly committing to a loan contract on a car that isn't worth the money you will be paying.
Getting Back On the Road Fast
Auto Credit Express has helped people nationwide get connected with the right car dealer the first time. We have a network of dealers that will reduce those weeks of searching down to a matter of days. All you need to do is complete our fast, free and secure online application to get started. It only takes a few minutes of your time.
Save yourself the needless headache of finding a qualified dealer. Once we have the necessary information, we will match you with the nearest area dealer that has the best chance of helping you. There’s nothing more efficient and, most importantly, you will get it right the first time.