You’ve decided to buy a new car or truck, but unfortunately you can’t afford to pay for one outright. Even an inexpensive used car is something that will stretch your bank account too far. What should you do? The best option, of course, is to be able to finance your car purchase, essentially, taking out a car loan that you can pay off over time.

At this point, however, you may be worried about whether you can be approved for a car loan. If you know you don’t have a good credit score, you might think that will prevent you from financing your new vehicle purchase. However, as you’re about to discover, a poor credit rating isn’t automatically the roadblock that you might think it is. So, let’s look at how you can finance a car or truck with bad credit.

First Find The Car You Want
When you’re looking for a pre-owned car or truck, you might opt for the cheapest vehicle you can find to make it more affordable. This is something you should not do. If you do go this route, it’s very likely you’ll be unhappy with it within just a few months, but you’re stuck with it. Instead, find the vehicle you really want, the car or truck that suits all your needs. It may not be your dream vehicle, but it also won’t be one that doesn’t meet even your minimum requirements. You need to find a vehicle that’s going to keep you satisfied for at least a few years; one that provides you with enough room and comfort for you and your family, or meets your needs if using it for work. Don’t worry about your credit situation or financing until you first find the right vehicle for you.

Make A Larger Down Payment
While you may be unable to buy that vehicle outright, you may have enough saved up to make a decent down payment. You’ll still need to find financing for the balance, but that down payment may be sufficient for a lender to offer you a car loan, even with a lower credit score than they might normally accept. Not only that, paying more money up front will reduce the amount of your monthly payment, and make it less of a financial burden over the term of the loan.

Look For Financing
Even if you don’t have the money for a significant deposit, you might think it’s worth checking with the typical places that offer car loans. Perhaps you plan on seeing what your bank or credit union can do. Unless you know that they offer car loans to customers with poor credit ratings, there is a strong possibility they’re going to turn you down; wasting your time, and causing you a lot of frustration. You don’t want to put yourself through this type of disappointment. Instead, you need to find someone who is on your side from the beginning, ready to provide you with the services you need. You need to find a car dealership that can not only get you a vehicle that meets your needs at a reasonable price, but one that is able to get their customers with poor credit histories a car loan they can afford.

Find The Right Dealership
So, the next step is to find a dealership that can make that happen. Unfortunately, not every dealer will offer the possibility of car financing because it does require a certain amount of expertise, knowledge, and experience, as well as a staff trained to provide this service to their customers. The good news is that there are numerous dealerships that do offer financing assistance; dealers that have strong enough relationships with lenders to help you get the best car loan possible.

The ideal car dealership won’t just offer car financing options to customers with bad credit, with only a possibility of getting them approved. Instead, they will work with a network of different lenders to provide the financing for your new car purchase. Some car dealerships have in-house specialists who have established relationships with a wide variety of lenders that can provide the best financing arrangements for you. You might find that they can get you a car loan that would be closed off to you without the help of the dealership.

Don’t Worry About Bad Deals
Some people think that having a bad credit history automatically means the cost of a new car or truck will be higher, but that’s just not true. As long as you find the right dealer with the right financial connections in the loan market, you should pay the same amount for the same vehicle that someone with healthy credit would pay. This means that you should be able to get the right car for you, at a fair price, with financing that is affordable even for someone who is struggling with poor credit. The loan will cater specifically to your financial situation and ensure that you get to drive away with the car you need. With the right dealership, the entire process can be quick and painless, enabling you to drive away in your new car the very same day.

Why Get Your Pre-Owned Car From G&E Motors?
At G&E Motors, the process of getting a good used car, even when you have a low credit score, is easier than you think. Our staff of friendly professionals are passionate about making sure our customers get a vehicle that matches their personal needs and financial situation. We have many years of experience doing just that. With our large car and truck inventory, extensive lender network, and quick approvals, we are committed to get every customer a deal that works, regardless of their credit status. Give us a call at 267-560-5519 or drop in and see us; our team is always ready to help get you the best deal possible.