If you are in the market for to purchase a car, chances are you are also interested in a reasonable car financing plan. Getting the best deal and keeping your payments affordable requires that you protect your credit in various ways before you decide to purchase a vehicle.
One mistake many people who will make a large purchase within the year fall into is to layer themselves under so much debt that their credit rating suffers. Avoid that pitfall by paying cash when possible and paying off necessary loans before taking on a larger, new debt.
Going into the purchase of your next vehicle reasonably close to debt-free ensures that creditors will see you as a good credit risk. Having a house note or a home rental responsibility will not hurt your chance for an auto loan, unless the monthly housing payment is much too hefty when compared to your monthly income.
For some people, the big issue will be lack of proof of credit confidence. These people may never have made a purchase that required long-term payments. Perhaps they have never owned anything in their own names, and that will make it hard for an institutional loan to come through. Whatever the circumstances, we are interested in helping you find the best option for making car payments.
If you are not considered a healthy risk by a bank or credit union, we would like to help you on your way to purchasing a car for as little money down and for as low monthly payments as possible. Being upfront about the nature of your credit is one way to streamline the process. Once we have determined together what you can afford to pay down and monthly, our staff will have a better idea of the cars that fall within your price range.
With those selections ready for your evaluations, we can sit you behind the wheel of every car in your range, if you like, for test driving that very day. With any luck, you’ll come in with a trade in and go out with a car fresh off the lot.