Restore Your Credit and Secure Auto Loans in Macon, GA
1. DEAL WITH SOMEONE WHO SPECIALIZES IN BAD CREDIT AUTO FINANCING
The most important thing you can do is find qualified people who understand how to help customers with bad credit. It’ll save you time, you’ll get a better vehicle, and you’ll probably even get lower payments out of the deal. They also stock their lots with all the best vehicles that lenders are sure to approve even for buyers with bad credit. Quality, reliable, late model vehicles can make the difference for getting an approval at Macon Car Credit.
2. DOWN PAYMENT
Money talks—it’s that simple. Your willingness to invest in reducing the loan balance in turn helps lenders be more willing to offer you a loan. The best-case scenario is to put 10-20% down or about $1,500 depending on the cost of the vehicle you’re trying to purchase. This down payment will also lower your monthly payment, which is important when trying to rebuild your credit.
3. BE FLEXIBLE ON WHAT VEHICLE YOU LOOK FOR
If you’re working with a subprime auto loan, set realistic goals when buying a vehicle. Banks and lenders want to see people with bad credit in low-mile, easily maintained, dependable vehicles that don’t depreciate and have good warranties because there’s less chance of falling behind on payments or the vehicle being repossessed. Working with second chance auto loans is about choosing quality cars you can afford to own. Once your credit improves, you can start considering more luxurious vehicles.
4. HAVE A CO-SIGNER
Never hesitate to ask someone who might help you with an auto loan for assistance—it could save you thousands of dollars in the long run. With a reputable co-signer, you could qualify for lower interest rates, which could prove invaluable in saving you money while you rebuild your credit. Thinking of it as an investment in your future credit helps in seeing how important a step having a co-signer is on the road to credit recovery and independence.
5. COME PREPARED TO DO BUSINESS
We specialize in bad credit auto loans and will ask you to bring certain documents known as stipulations or “stips” – these are required for the lender to fund your loan. When you work with Macon Car Credit, you’ll know what documents are required before you choose your vehicle. Be sure to bring them with you on your initial visit. They’ll make securing a deal easier, and even allow you to take your delivery the same day.
If you have further questions about rebuilding your credit or you’re ready to get started, contact us or fill out our online auto financing application today.
June 16, 2020
What Do I Need to Trade in My Car?
Trading in your car is a simple process—especially when you do it at a dealership. At Macon Car Credit, we want to show Milledgeville, Warner Robins, and Macon, GA, motorists what they’ll need to trade in their cars. Before you get trade-in quotes from dealers, you’ll want to collect some documents and other items. If […]