Poor credit makes it difficult to get approved for financing, but it’s far from impossible. It’s necessary to work with a lender that has experience with subprime auto loans. We’ve established an unparalleled network of dealers and lenders who are willing to consider your application, even if your credit has been denied by another bank or lender. A vehicle finance expert will be at your side, helping you compare rates and get the car loan you need. Go ahead and apply online.
Green Bay Car Dealerships That Finance Bad Credit
You should try to avoid buy here pay here dealerships, buying instead from more prominent dealerships that arrange loans through the normal channels: banks, credit unions, and finance companies. Such companies are monitored by state and federal regulators, unlike BHPH dealers. As with all subprime loans, expect:
- Rates of interest that are higher.
- Down payments that are larger.
- Loans that are modestly-sized.
However, it’s much better than any alternative, and if you make your payments on time, you can strengthen your credit score while doing so. There are many such dealers in our network, and when you apply online, we can pair you with one who wants to put you in the driver’s seat.
Documentation You Will Need
To streamline the auto finance process as much as you can, it is recommended that you supply all the documentation required by your dealer or lender. Your driver’s license is the most basic form of identification you’ll need. As proof of income, you will need to provide a minimum of two recent pay stubs or tax statements. Lenders will not finance an uninsured or underinsured vehicle, so proof of insurance is required. A copy of your lease agreement or a previous month’s utility bill will confirm your address to lenders, so they know where the vehicle will be.
When you submit your application, we supply you with an auto lending expert who will guide you through each stage of the process.
Green Bay Buy Here Pay Here Car Lots
Most people in Green Bay head for buy here pay here auto lots, also referred to as tote the note dealers, believing they can only get financed with no credit check. Not the case. These dealers will finance pretty much anybody, regardless of their credit, but you will find drawbacks.
Alas, you can expect high loan rates, big down payments, and somewhat battered vehicles that are overpriced. Is strengthening your credit one of your goals? Then you should contact an auto finance professional through us, since buy here pay here dealers won’t assist you in increasing your credit.
Recommendations for Buying a Car in Green Bay
When it comes to the monthly payment on your car, it shouldn’t be above 10% of your monthly income. On top of this, as way to reduce finance fees and negative equity, opt for a 60-month repayment term at most. This will equal out to a vehicle costing around 50% of what you make annually, before taxes. For Green Bay residents, having incomes of $29,404 per annum, this is $14,700. Basically, the less you’re able to spend to obtain a trustworthy car, the better.