When you’re looking to buy a used car, you may think that you need perfect credit and excess money and that if you don’t have either, getting a loan will be difficult. There are dealerships out there that are willing to help people who need to build their credit, require a smaller down payment (than a typical dealership), and will help provide you with a solution within your means. The goal is to build your credit while having reliable transportation. Combining research and awareness often times leads used car buyers to find dealerships that offer $500 down programs as a possible solution.
How Does It Work?
Dealers that can offer in-house financing understand that not everyone has perfect credit and make getting approved easier than a traditional bank or finance company.
Change Your Mindset.
One way to build or rebuild your credit is by making on-time payments on a car loan. If you have bad or no credit, getting a loan can feel overwhelming, but if you choose a used car and can put as little as $500 down, you can start rebuilding your credit.
How do you get a loan if you have bad credit?
Banks are not always willing to give loans to people without good credit, but many dealerships have $500 down auto financing programs available. This means, for as little as $500 down and on-time payments, you can start improving your credit score. As you improve your credit score, getting approved for credit cards and other loans becomes easier.
If your long-term goal is to buy a house or a new car, improving your credit with a used auto loan now will help you make those dream purchases in the future. Get started today by simply checking out our online inventory or contacting us about our financing program.