7 Tips For Buying A Car With No Credit or Bad Credit

For consumers with good credit, car buying can be pleasant experience. They can shop

around to find what they like and have finance companies falling all over them to offer a competitive rate. For most consumers, this is not the reality. A majority of car buyers looking to finance vehicles have fair to poor credit and when you’re a buyer struggling with credit challenges, car shopping can be an exercise in futility. If you have bad credit, fair credit or no credit, car buying doesn't have to make you want to pull your hair out. By following a few simple steps, you can make the process less stressful and be on your way to repairing your credit and get back on the road.

What is a Sub-Prime Borrower?

According to Experian's State of the Automotive Finance Market Report for the first quarter of 2014, scores are divided into five categories of ranges. 740 and up puts your score in the "Super Prime" category. 730-680 is "Prime" and 679-620 is "Non-Prime".  That leaves all other consumers in the "Sub-Prime" category with 550 and under being described as "Deep Sub-Prime". According to their Open Loans by Risk report, over 21 percent of all open loans are below prime, with deep sub-prime lending being the highest growing category of open loans. The average credit score of an auto financing customer dropped 10 points from the first quarter of 2013 from 731 to 721. In summary, more lenders are willing to take chances with sub-prime borrowers as more and more consumers are falling into that category. According to Credit-Report-101, the national average FICO credit score as of 2014 in the US is 639, which would place the average national consumer in the "Non-Prime" category. 

What Kind of Car Can I Get with Bad Credit?

Plenty of good people have credit problems. Ending up without a vehicle and limited resources only compounds the problems. How can you get out of your financial situation if you can’t get to work? People can be left feeling completely helpless. At Used Car World, we work primarily with people in tough credit situations. Good people who just need a chance to get back on their feet. We get questions from customers all the time that have misconceptions about how bad credit programs work. Some have heard or dealt with dealerships that limit bad credit customers to specific vehicles, or believe that they may be forced into buying a car they don't want. That's just one of the many things that makes us different than other dealerships. We will do our absolute best to get you the car that you want, and we will make sure to get you a car you love and can afford.

What kind of car can I get?

Check Out Our New Program Pages

New pages for each program were just set up! See which one you qualify for!

SPECIAL FINANCING

Have income? You’re approved!

Bring in a pay stub or proof of income, and we'll get you a loan! We don't care about your crappy credit! Our down payments are as low as $500.00 plus tax and tags. We accept people with all kinds of credit problems including repossession, divorce and bankruptcy. 

We use a network of sub-prime lending companies to find you a loan that works with your situation. Apply online on our website, or check out our Special Financing page for more information!

BUY HERE PAY HERE

No income? You’re approved!

We have financing programs for everyone including the Buy Here Pay Here program. If you are a special case customer that is unable to meet the verification requirements of our special financing, that's OK! We can still get you a loan.Our Buy Here Pay Here program accepts everyone, and no verification is necessary. Apply on our website or check out our Buy Here Pay Here page for more information!

 CASH FOR CARS

We'll buy your car.. Even if you're not buying ours!

Need quick cash? Having down payment problems and need to use your trade? We'll buy your car and give you the most money for your vehicle. Our expert salesmen will give you a free appraisal on your vehicle and pay you in CASH today. Getting cash for your car is easy! Use our online instant appraisal tool. Want more information? Our Cash for Cars page has all the information you need!

Visit our site and apply for any of our financing or auto buying programs.

What's In A Credit Score?