Looking to get behind the wheel of a new car to take you around Morrisville, Bristol, and Levittown, PA? Then, chances are, you’ve been thinking about the financing process. If you have low or no credit, you still have options available to you when it comes to auto loans.
Allow your friends at Grace Auto Group to show you a few tips.
One of the quickest ways to secure an auto loan on a new car is to bring a larger down payment amount to the table. Typically, 20% of the purchase price is the suggested down payment, but if you offer more, this can build greater trust from lenders.
Increasing your down payment is not always a viable option, so you may want to build a budget instead. Use online tools to get pre-approved for a loan before you begin shopping for your next ride.
Armed with the knowledge of what type of rate you qualify for, you’ll be able to look at what you can afford monthly and work backwards to see the price range of cars available to you.
Browsing pre-owned vehicles opens up a plethora of options for you. Used cars have already depreciated, so this means you’d be getting a vehicle at a great price that will hold its value more than a new ride.
Dealerships like ours also put their vehicles through extensive inspections, so you can rest assured you’ll be getting a reliable set of wheels built to last many more miles to come.
Whenever you’re working with low credit, the best option is to sit down with a finance expert to discuss all your options. Our dealership proudly offers onsite financers who can assist you and answer any and all questions you may have.
One of the best ways to secure an auto loan when working with low or no credit, is to actively move towards raising that credit score. Here are some of the top tips on how to boost your score over time…
If you’re looking to score a low credit auto loan, then reach out the finance team at Grace Auto Group today. Over the years, we’ve worked with a wide range of Morrisville, Bristol, and Levittown, Pennsylvania, lifestyles, and we’re excited to assist you as well.