How To Finance A Vehicle With Bad Credit

Looking to Purchase A New Vehicle With Bad Credit?

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Before You Come Into The Dealership.

Most lenders who are offering to finance for subprime credit, typically have more requirements from the purchaser than most. It’s best to know what’s required before you even step foot into the dealership. Being prepared can save you both time and money.

Check Your Credit

The reality is that most American’s don’t understand, or in some cases, even know their credit score. With the growing number of mobile applications, there are many ways to check your credit. One of the great tools that a lot of people use is Credit Karma. This application is available on both iOS and Android devices. With a sleek interface and tools to help, you can be sure that this tool will help provide an understanding of your financial health. This tool is free to download!  There are instances where people assume, they have bad credit. That may not necessarily be the case for you. Be sure to regularly check your credit score to ensure accurate information is being posted.

Financing shouldn’t be difficult. Click here for vehicle financing. 

See If You Pre-Qualify

When shopping for a vehicle, most dealerships will want you to immediately fill out a credit application. For someone who is purchasing a vehicle with prime credit, and have found the vehicle they want, this isn’t an issue. However, when shopping for a vehicle with subprime credit, it’s best to know an estimation of your terms. In most cases, your personal bank may be the best options for approval. Your bank can see your income and spending habits. They may have much more flexibility with a financial relationship already being established. A pre-qualification tool will help you see if you qualify, and if you do, how much the lender will finance. Typically you will see a higher down-payment. The down-payment helps the lender mitigate a lot of the financial risk. Seeing if you pre-qualify is a great way to know your options before making a financial decision of any sort. Capital One’s Auto Navigator Tool is a great way to get a general idea of your options.

Documentation

If you’re choosing a lender other than your bank, there may be more steps required to receive funding. Each lender has their own requirements. In most cases, you will be required to bring a few items with you. The items needed usually help provide a better scope of understanding to your situation. Your driver’s license will help the lender identify you. Most lenders who offer auto loans for bad credit will ask for proof of income. This may vary from lender to lender, but the average is 2 months of paystubs. This will help the lender understand your ability to support the costs associated with the loan. In addition, the lender may request proof of residency. A monthly bill and or lease agreement would suffice. All these documents will help ease the process of obtaining funding for bad credit.

 

Understanding Your Financing Rates

When you complete the full credit application the lender will provide you with an APR rate. This rate for financing with bad credit will typically exceed 15%. APR is the annual rate that you are charged for borrowing. This amount reflects the yearly costs associated with the loan rate. Your APR will be the percentage of the loan you will be responsible for paying on top of the original loan on a yearly basis. Be sure that when you are attempting to obtain financing, that you shop APR rates along with the vehicle. Lowering your APR will drop your monthly payments.

We hope you’ve enjoyed this article! Our goal is to educate our customers and future customers on the vehicle purchasing process.

CLICK HERE TO BROWSE OUR INVENTORY AND FINANCING OPTIONS

 

6 Things To Look For When Buying An SUV For You And Your Family 

6 Things To Look For When Buying An SUV For You And Your Family 

 

  1. Safety. Making sure the vehicle has working airbags, shatter-resistant glass, anti-lock brakes, stability control, etc.
  2. Air Vents. Vents tend to always be in the front row seats of cars but checking in the back row to see if they are there so the kids can feel the heat or ac.
  3. Space. Having enough room for all the kids, luggage, and groceries.
  4. Entertainment. This isn’t super important,  but looking for tv sets on the back of the headrest for the children to watch while on the road.
  5. Functionality. Testing out the back seats to see if they’re easy to maneuver, choosing leather seats for cleanliness, having a third row for bigger families, etc.
  6. Added Bonuses. Looking at newer cars for safety features like road sign assist, pre-collision system with pedestrian detection, automatic high beams, and more.
If it helps, you can print this post out as a checklist to bring with you to the dealership to make sure you don’t miss out on anything. Most importantly, have fun shopping!
And don’t forget Trust Auto has a wide selection of SUV’s! Our friendly staff is here to help. As a family run business, family is very important to us so we are here to make sure you find just the car you need for you and your children.
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Tutorial: Building A Car Emergency Kit For Winter Time

Here at Trust Auto, we believe that having an emergency kit in your car at all times is very helpful. You never know what can happen and when so rather be safe than sorry, right?

Below is a step by step guide to building an emergency kit for your car, winter edition. 

  1. Grab a bucket or duffle bag to place all of your items in. You don’t want something huge… maybe a medium size.
  2. You can go to your local grocery store to purchase an already built emergency kit that has bandages, medicine, and other small items for medical issues. This small medical kit can go in your big, overall car kit.
  3. Place a blanket or two inside.
  4. Add water bottles and perishable snacks.
  5. Put flashlights and batteries inside.
  6. Having a neon windbreaker is nice incase your car breaks down at night, your body is visible to those driving on the road.
  7. Grab hand warmers.
  8. Get some jumper cables to have in the kit too.
  9. After adding all necessary items, zip up your bag or close up your bucket and place it in the trunk of your car.

Now your off to being prepared at all times. Safe driving!

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Top 5 Car Tricks For Winter Months

Winter time can be scary when it comes to driving, depending on where you live. Some areas experience more snow than others. Our focus is to make sure everyone is driving on the roads as safely as possible.

 

Winter time can be scary when it comes to driving, depending on where you live. Some areas experience more snow than others. Our focus is to make sure everyone is driving on the roads as safely as possible.

5 Car Tricks

  1. Of course we recommend keeping an ice scraper in your car at all times, but if you happen to forget it… no worries! You can always use a credit card!
  2. Just like we think it’s best to keep an ice scraper on deck, we believe having an emergency kit on hand at all times is of importance too. Need help putting one together? Check out our blog post here on creating an emergency kit for you car.
  3. If you know it’s going to be snowing, raise your windshield wipers the night before to make your life a whole lot easier for the next day.
  4. You can put tube socks over the wiper blades as well to keep them from freezing.
  5. Last, but not least placing Ziploc bags over the side mirrors can be very helpful in helping keep snow off your actual windows so when you go to scrape the snow off you can simply just remove the bag.

What did we miss? Comment below any other tips or tricks you have! 

For more blog post on driving during Winter time, keep reading.

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Local to Syskeville, Maryland or live in a surrounding area? 

Come check us out! We offer financing and to help you come ready to go, click here, to pre-apply.  To view our inventory ahead of time, click here.

We look forward to seeing you!

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The Essential Guide To Trading In Your Car

Going into a dealership to trade in your car in can be an anxious process. You can’t wait to find out the value of your car so you can move onto finding the perfect car! Well, no worries as Trust Auto is here to ease your mind and give you all the information you need. 

Going into a dealership to trade in your car can be an anxious process. You can’t wait to find out the value of your car so you can move onto finding the perfect car! Well, no worries as Trust Auto is here to ease your mind and give you all the information you need.

The Essential Trade In Guide 

  1. Research. You can Google and look on different websites to get an idea of what your car may be worth. While you’re researching keep in mind that the website isn’t actually looking at your car. It is giving you an estimate. Don’t get too excited. This is just for you to get an overall idea before heading in to get it looked at in person.
  2. Clean. Go in with your car cleaned. A nice, cleaned out car is a lot more appealing than one that is filled with junk. Many people ask about getting dings and other small things fixed on their car before having it looked at. While this may help enhance your value, if your car is over 50,000 miles we recommend not trying to fix everything beforehand. The dealership can easily fix whatever may be wrong with your vehicle and cars over 50,000 miles tend to go to auction.
  3. Be Honest. When you do get your car looked at, be honest about accidents and any other issues your vehicle has. This is important especially for the next person who will be driving the car.
  4. Promotion. Many dealerships run trade in specials so be on the lookout for any promotions going on near you.

We hope this was helpful in easing your mind. After you do your research and go into a dealership…

  • The appropriate person will take your car for a test drive and look over it in detail to see everything your car has to offer.
  • The mechanic on hand will have a look at your engine and do a more in depth look at what’s going on inside.
  • Lastly, the car will be appraised and you will officially have an accurate answer on what you can get for your car. Not all dealers will give you the same amount, but it will more than likely be around the same.

If you have any further questions on how trading your car in goes, comment below! 

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Local to Syskeville, Maryland or live in a surrounding area? 

Come check us out! We offer financing and to help you come ready to go, click here, to pre-apply.  To view our inventory ahead of time, click here.

We look forward to seeing you!

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