If you’d like to finance a car in Lubbock, you need a loan company you can trust. We give you the ability to apply for financing through our vast network of dealers and lenders. Typically, we can place car shoppers with an interested dealer or lender within 60 seconds.
Lubbock Car Lots That Finance Bad Credit
Don’t let credit stand in your way when it comes to your new car. We have access to dealerships all across Texas that want to give you a second shot at financing. Since you’re a higher-risk applicant, certain things are to be expected:
- Higher rates of interest.
- More money owed upfront.
- Tougher lending terms.
On the plus side, the experience is better than that of a buy here pay here dealer, and your vehicle will almost certainly cost you less in the end. At Motive Auto Finance, we work with many of these dealerships, and they want to get you the car you deserve. Just go here to submit your application.
Requisite Documentation for Your Lubbock Auto Loan
Keep in mind that the better your credit score, the less documentation the lender will require. Your driver’s license is the main form of ID you will need. If your credit isn’t the best, lenders may want to confirm your income through paystubs or tax returns. Some lenders require you to be in the same industry for a certain length of time prior to approval. Lenders never finance an uninsured or underinsured vehicle, so insurance verification is another requirement. Lenders will also want to verify your address, so they can mail you any required communications. required if you’ve got less-than-perfect credit. Your financing consultant can tell you exactly which documents are needed.
Buy Here Pay Here Dealers in Lubbock, TX
Car dealers in Lubbock that approve people for financing on-the-lot have a few things in common. They…
- Offer car loans in-house.
- Do not require credit checks.
- Want you to make payments every seven days, often at the lot.
Countless folks with really bad credit believe that an in house financing car lot is the only real place that will finance them. But keep in mind, Texas subprime auto loans from banks and credit unions typically feature less expensive rates.
Can This Boost Your Credit Score?
Not only does a car loan supply you with the funds you need to get your car, it can actually help you repair your credit history. If you send in your payment on time month after month, you’ll be building a good payment history, which is 35% of your credit score.
Missed payments, on the other hand, can hurt your credit score, and in a big way! It is hard to say how much your score is going to increase, but certain experts have indicated a 5-10% improvement each month.