Have you been declined for an auto loan because of credit troubles? We allow you to find a lending company who doesn’t turned down everyone who has poor credit–unfortunately, this isn’t unusual among many lending companies. We have spent years establishing an unparalleled network of lenders and dealers who are dedicated to financing your purchase, regardless of credit history.
Just apply online, and we will pair you with a finance specialist who can help you arrange your loan and buy your car or truck from a dealer in your area.
Bad Credit Car Dealers in West Des Moines, IA
When you’ve got less-than-perfect credit, dealer financing is often your best bet, because most all the banks won’t be willing to approve you. There are dealers, however, that can get you the loan you need at a competitive rate. Generally, these dealers offer:
- Interest rates that are fair.
- Down payments that don’t break the bank.
- Vehicles that have fewer maintenance issues.
The specific cars and trucks you can buy will be based on what you make per month, along with what your credit score is. As a way to reduce the risk of loan default or repossession, consider an inexpensive, fuel-efficient vehicle with payments of just 10% of your income–any higher, and you’re sure to have issues. If you make $3,039 per month, this comes to a payment of $304. Submit an application to have a finance specialist confirm how much you can borrow.
Documentation That’s Needed
To steer clear of any setbacks, make sure to provide all the documentation necessary when heading to the dealer lot.
- Driver’s License: This helps verify your identity, and many lenders are unwilling to finance individuals without a a license.
- Proof of Income: Pay stubs or income tax returns allow the lender to confirm the income you claimed on your application.
- Proof of Insurance: Your lender will request that you have comprehensive coverage for your financed vehicle, ensuring you can pay back the loan if you’re in an accident.
- Proof of Residence: In case you default and the vehicle has to be repossessed by recovery agents, lenders need to be sure they know your address.
- List ofPersonal References: You probably won’t need to provide references if you don’t have below-average credit. If you do, personal references are used by recovery agencies if ever your vehicle has to be repossessed.
More might be required, so be sure to double check the requirements with your finance specialist before venturing out to pick up your car.
Buy Here Pay Here Dealerships in West Des Moines, IA
Sometimes referred to as in house financing, your job is your credit, or we tote the note car dealers, these establishments ordinarily have a few key features. They…
- Offer auto loans on-site.
- Rarely perform credit checks.
- Want you to make payments each week, often in person.
For people who have really bad credit, West Des Moines buy here pay here dealers are sometimes the only option, even though the cost of your car or truck will be inflated as a result of ridiculous annual percentage rates. As if that weren’t enough, it is likely that your FICO score won’t get better as you pay back the borrowed funds. That is because these dealers don’t work with the credit reporting agencies.
Credit-Building for West Des Moines Residents
Not only will an auto loan give you the funds required to purchase your car, it has the ability to help you raise your credit score. Credit improvements are never instantaneous, but within a year or so, your FICO score should begin rising. Your score will not improve the day you pay off your loan. Rather, its increases over time as you keep making payments on schedule. In order to ensure you never miss any payments, consider an automatic calendar reminder or pre-arranged deductions from your checking account.