Buying With Bad Credit in Stafford, VA

Best Used Cars for Road Trips in Stafford, VA

Buying With Bad Credit in Stafford, VA

 

You’ve made mistakes. Mistakes you aren’t proud of, that haunt you, that you would do anything to forget. Some friends and family have forgiven you. Maybe not Grandma Mimi but she still holds a grudge against her milk man from the 50s for spilling her milk. You are trying to put the past behind you and put your next foot forward. Preferably you want to put your foot into a car that can get you to work so you don’t have to ride the city bus anymore. Unfortunately, one aspect of your life that has been completely unforgiving is your credit score. Your credit remembers your worst moments and threatens to drown you in the impossibility of buying a car. The clear cut glass and smudge free, reflective floor dealerships shake their heads from side to side with disappointed eyes that peer over reading glasses reflecting your low credit on the computer screen. The dealer suggests you find a co-signer and you slump back in your bus seat; defeated, knowing that no one is willing to cosign for you. It appears you have three options at this point: use the $2000 you’ve saved for a private sale car that has 190,000 miles on it and hope that rattle the engine makes when you drive it isn’t serious, keep riding the bus for a couple more years until you have more money, or try your luck at Buy Here Pay Here or”No Credit, No Problem” dealership.

 

When shopping for used cars in Stafford, Va with poor credit, buyers need to enter dealerships armed with knowledge.

 

The first lesson buyers with poor credit should know is that they can and will be taken advantage of. Shoppers with great credit are offered low interest loans because they have proven to be good payers. Their loan company sees their car loan as a safe and easy way to make money. When compared to a low credit applicant, the finance company sees a buyer who does not always pay in full, on time, or at all. The risk of these applicants is that they are less likely to finish paying off the full loan. To combat this concern, the finance company jacks the interest rate up. If the loan applicant stops paying half way into a loan, the financer wants to ensure they are in a safer position to receive their loan and profits back. The first and best thing you can do in preparation is find out your credit score. From this point you can choose which dealerships will be more or less likely to deal with you. Big name dealerships will be more likely to turn away or jack up scores of 600 or below. A better bet is to look at “mom and pop” dealerships.

A lot of dealerships that sell used cars in Stafford, Va and the surrounding areas claim that they have a Buy Here Pay Here program or that they accept all credit. If your credit is particularly bad, you might need to search for dealerships that do not pull credit at all as every time it is checked will mark against you. Many dealerships in the area promise they will not check credit. It is okay to be wary of these dealerships. Many dealerships with used cars in Stafford, Va and surrounding counties will immediately run your credit despite promises, while others will use a bait and catch system that will sell off your account six months to a year after purchase where your credit will be run and the interest rate increased. If you are asked for your social security number, do not hesitate to ask why. Most dealerships in the area will later use this to pull your credit. The Buy Here Pay Here lot at Airport Auto Sales differs from other local “No Credit, No Problem” dealerships in that it is a true Buy Here Pay Here dealership. Your credit is never run and your auto loan account is never sold off to another finance company. Your social is collected but we at Airport Auto Sales are happy to inform you why. Your social is only ever collected for getting your license plates with the DMV and if the car is ever repossessed. If another dealer cannot tell you why they are collecting your social, feel free to walk away.

One last information weapon to carry with you while shopping for used cars in Stafford, Va with poor credit is finding out if you can report credit. It may seem like an oxymoron but many buyers are wary to buy at a Buy Here Pay Here dealership because it will not help their credit. Ask the dealership if they can send a letter at the end of the fiscal year or the end of the loan that states your good payment history. This may be able to help your credit. Buying with poor credit can be scary but arm yourself with information and make sure to ask lots of questions before signing. Poor credit does not have to keep you from driving, especially at the Buy Here Pay Here lot at Airport Auto Sales.

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