The current economic situation makes buying an auto with bad credit easier than ever in many cases. Since willing buyers are fewer than in days past, dealers and manufacturers are sometimes quite desperate to find anyone willing to sign on the line and drive off the lot in a new or used automobile.
The logic is that for a dealer or manufacturer, it is better to take a chance on a buyer with bad credit, than to wait for someone to come along with perfect credit – someone who may never show up. The alternative is to keep cars sitting on the lot, when instead, those unsold automobiles can be out in someone’s garage, hopefully earning money.
For the dealer – the math is simple. If they turn away a buyer with bad credit, they have a 100% guarantee that they will make nothing off the car. If they take a chance on a few buyers of autos that have bad credit, over time, even if some of these loans go bad, they will come out ahead and at least keep cars moving off the lot.
The lots are all full, so the time has never been better for someone to purchase an auto with bad credit. There are some tricks and tips that you may decide to use to increase your chances of getting that approval. Tricks and tips that you will find on these pages.
If you have bad credit or are unsure of what exactly your credit score is, the first step is to get your credit report! You are entitled to it by law, so this is the very first step you should always take before you set out to purchase a car or get automobile credit.