Car Shopping: 3 Ways to Offset Bad Credit

When you try to get a loan for a car from the dealership, one of the first things we look at is your credit score. If your score is low, however, there is still hope. There are ways to get approved for the car loan you need even if you have bad credit.


Qualified Co-Signer


A co-signer with better credit can be your saving grace. Having someone co-sign the loan can help you get the car you want while reassuring us that the loan will be paid. The co-signer agrees that, in the event that you do not make payments, he or she will take responsibility for them. You get approved, and we get assurance that the loan will be paid.




Another way to be approved for bad credit car loans is to trade in your old vehicle for the one you want to purchase. The value of the trade-in can lower the total loan amount, making lending to you less of a risk, even if you have bad credit. The car you no longer need can help you get the next car.


Large Down Payment


As lenders, we tend to consider bad credit a big lending risk. If, however, you can demonstrate that your credit is not indicative of poor cash flow, it is not so much of a problem. One way to do that is to offer a large down payment on the car. If you are able to put a significant portion of the car’s value down, this increases your chance of being approved for a loan. It lowers the amount you will need to borrow and proves that producing money is not an insurmountable challenge to you.


Even if you have bad credit, it is still possible to be approved for a car loan. Credit score is just one factor used in determining approval.

6 Questions to Ask Used Car Dealers

The purchase of a used car is major monetary investment. There are risks involved, such as buying a vehicle with hidden flaws and mechanical issues. However, a potential disaster is avoidable when you ask dealers the right questions. With a little due diligence on your part, you’ll walk away with the right car for the best deal.

Is This a Certified Pre-Owned Vehicle?

Certified used cars give you an added peace of mind. These vehicles undergo extensive inspections. Additionally, these autos are covered by a manufacturer’s warranty.

Do You Accept Trade-Ins?

Trading in your current vehicle has two major benefits. One, you avoid the hassle of selling it yourself. Second, your car’s value is applied toward the used automobile, which lowers your payment.

Is There a Discount for a Cash Purchase?

Buying your vehicle with money is a win-win situation. With a cash only deal you can buy the auto below the sticker price. In turn, the dealer gets a quick sale and money on the spot.

Where Was the Car Purchased?

Dealerships acquire used cars from a variety sources. The common places include other dealers, rental car companies, customer trade-ins and auctions. Knowing where an automobile comes from gives you a complete picture of the vehicle’s maintenance and ownership history.

Can My Mechanic Perform an Inspection?

Trustworthy dealers have no problem allowing your mechanic to look over the auto. Your repairman can spot existing problems as well as potential hazards.

Have You Performed Maintenance Checks?

Used cars often sit on a dealer’s lot for weeks or months. In many cases, repairs and maintenance checks are conducted during that time. If there is any recent work done, it helps you cut the cost on future repairs.

Reputable dealers look forward to answering your questions. The more you know about a used auto, the better. Asking questions helps ensure your dream car doesn’t turn into a nightmare. Here at Walker Auto Sales we welcome any and all questions. Please drop by and visit us soon.