Has your credit been turned down in the past? It’s best to work with a lender that is welcoming to applicants whose credit isn’t the best. We’re proud to work with a vast network of lenders and dealers who have the ability to finance individuals with lots of different credit histories, even people who’ve issues like:
- Bad credit.
Your vehicle finance expert will help you:
- Review interest rates.
- Go over repayment periods and down payment requirements.
- Buy your new or used car.
Go ahead and apply for financing.
Bad Credit Car Dealers in Toms River, New Jersey
Have you thought about where you could buy your new car? When you have credit problems, private party auto loans are usually out of the question. Chances are you’ll have to purchase from a dealership. Good thing there are dealers that specialize in less-than-perfect credit. In any non-prime financing arrangement, there are certain things to be expected:
- Rates of interest that are more expensive.
- Down payments that are larger.
- Loan repayment terms that are shorter.
On the plus side, bear in mind you’re getting a car, sure, but also the chance to improve your credit. We have a great number of dealerships in our network, and they want to get you in the driver’s seat of the car you need. Just go here to submit your application.
Documentation You Need
The documentation needed to finance a car varies from lender to lender, but there are some things that will be required regardless of lender.
- License or Permit: This is a way for lenders to verify your identity.
- Proof of Income: If you are a freelancer, meaning don’t have paycheck stubs, showing tax statements from the past 24 months is sufficient.
- Proof of Insurance: Not just liability, but collision is mandatory, but you can often wait to obtain it until you purchase your vehicle.
- Proof of Residence: This is often provided through a copy of your lease or a bill, confirming that your current address is the same as the address on your application.
- Personal References: Personal references make it easy for lenders and dealers to confirm the data you’ve provided, and they act as a starting point if repossession agencies have problems locating your vehicle.
If this sounds like a hassle, don’t worry: it’s really easy.
Your Job is Your Credit Dealers in Toms River, NJ
Commonly known as in house financing, your job is your credit, or we tote the note car dealers, these businesses typically have a few key features:
- These dealerships finance car loans on site.
- They rarely check your credit.
- They want you to make payments 2-4 times per month, often at the lot.
A lot of people with really bad credit feel that an in house financing car lot is the only real establishment that will be willing to take their credit, even though there are plenty of drawbacks:
- High Loan Rates
- In-Person Payments
- Lack of Ability to Improve Credit Score
Can This Restore Your Credit?
If you have damaged credit, you are probably interested in ways to increase it. In all actuality, an auto loan is among the most reliable ways to restore your credit. Increases in credit score are by no means immediate, but within 6-12 months, your FICO score should start to rise. You really can’t miss a payment, as this will surely have a drastic consequence: a decreased credit score. In order to make sure you don’t miss a payment, consider solutions like automated deductions.