Before the internet, financing a car with bad credit in Santa Clara, California, was a serious headache – until we emerged as a market-leader. We feel that auto financing should not be so challenging for people in Santa Clara, California, even if they’ve got poor credit scores. Inside of a minute, we can find you a financing specialist in Santa Clara.
Bad Credit Car Dealerships in Santa Clara, CA
Don’t allow credit to stand in the way of your next car. We work with dealers in Santa Clara who are willing to compete for your business. As with all subprime loans, you can expect higher interest rates, larger down payments, and smaller loans. Having said that, the rates and terms are much better than you would be given at one of Santa Clara’s buy here pay here dealers. We work with many such dealerships, and they want to get you in the driver’s seat of the car you need. Just go here to apply online.
When you finance a car, certain documentation has to be provided, and when you’ve got below-average credit, extra documentation may be needed.
- License: This helps lenders verify your identity.
- Proof of Income: If you are a 1099 worker and don’t have paystubs, showing income tax returns from the last 24 months is your alternative.
- Proof of Insurance: Your lender will require that you purchase comprehensive coverage as long as you are still carrying a balance, ensuring you can repay the loan in the event of an accident and it’s totaled.
- Proof of Residence: You can supply this through a copy of your lease or a bill, which shows that the address on your application is accurate.
- Personal References: These enable lenders to confirm the data provided in your application.
If this seems like a headache, don’t be concerned: it’s really easy.
Santa Clara Buy Here Pay Here Car Lots
Considering going to a buy here pay here dealer for a car that could be financed? Ordinarily, there are considerably better options. Yes, they don’t require credit checks, which means bad credit probably won’t be a hindrance, but chances are you’ll be charged excessively for your vehicle and its loan.
Regrettably, you will be faced with excessive rates of interest, massive down payments, and vehicles that are too expensive for their age and condition. And if that weren’t enough of an issue, these dealerships rarely report back to the credit bureaus, which means you could make every single payment month after month without helping your credit score.
Revitalizing Your Credit in Santa Clara
It might seem like a pipe dream, but it isn’t: not only does a car loan help you buy the car you want, it can raise your credit rating. However, this benefit isn’t guaranteed. You have to pay off the loan as contracted, making every payment on time. Needless to say, this is a double-edged sword, in that you can worsen your credit if you fall behind on your payments. In order to ensure you never miss a payment, consider an automated email reminder or pre-arranged deductions from your checking account.