| Hard Hitting Tips For Getting a Better Price When Buying a With Bad Credit |
[07 Mar 2013|03:36pm] |
Credit problems affect many people and when it comes to purchasing a vehicle it can be very challenging. Part of the challenge is getting approved, but another challenge that can be even more difficult to overcome is getting through the sales process of many car dealerships.
Chances are, you've noticed the difference in the tone and the way that salespeople act when they realize that you have bad credit. It's not a good feeling to think that you're being looked down upon. The fact is, there are many car salespeople that have bad credit themselves, due to the nature of working in a straight commission based job. So keep that in mind.
Proceed with caution...
One of the first tips that I would give anyone that's looking to buy a car with bad credit, is to go about everything slowly and with caution. Keep your emotions out of the equation and read over everything carefully before signing anything. Take a pocket calculator with you to the dealership. When they offer you a payment amount for a certain number of months, multiply the two to see what you're really going to end up paying for that vehicle. Out of hundreds of vehicles that I've sold or closed the finance on, I've never had one single customer pull out a calculator to do any math! Don't you think that's a smart idea when committing to buy a 10, 20 or 30 thousand dollar depreciating asset?
Don't be intimidated...
Dealerships want to move cars off the lot. Your money or the money from your loan funding spends just as well as anyone else's. Don't let having bad credit make you feel like you're in a weaker position to negotiate the price or any term related to your car deal. Haggle like it's nobody's business but yours and refuse to accept any offer, interest rate or price that you don't feel comfortable with. Even if you feel comfortable with it, ask for a discount.
Know how to ask for a discount...
Why don't you ask for a lower price or a lower interest rate? Many don't know what to say. If that's you, here's a few tips that will surely give you an edge at bargaining time...
1) I like the car and can afford the payments, but I don't think I would be making a smart decision by paying that amount. The total of payments equals XYZ and I don't think that you would think I was very smart if I said I wanted that car at that price. If you can save me $1000.00 off the total of payments, I would think I was making a more intelligent decision.
2) You know, that's a nice car and I can afford the payments, but I think that you would think I was an idiot for agreeing to this price. I understand that you need to make money as you do have expenses like light bills, commissions, etc., but I have expenses, too. If you can help me to save some money, I can help you make some money by buying this car.
3) As a general rule, I don't like to spend more money that I think is reasonable. I appreciate the offer, but this is almost an insult to my intelligence. Yes, I have credit problems and part of that is because I've had more bills than I've had income. The last thing that I want to do is have a high payment that's could be a challenge to pay should something unexpected happen. I'm thinking that you have the power to help me to save money, so what are you capable of doing?
Those are a few suggested "angles" that you can use if you want to save some money on the price of a car. Use them as you wish and hopefully they will give you some ideas.
Remember, the last thing a dealer wants you to have in your pocket is a calculator or an NADA car value book. So, make sure that you bring those along!
You can avoid the typical dealership routine and get your financing approved before you shop for a car. People that have bad credit are welcome at http://www.BuyingCarswithBadCredit.com.
Bad credit auto financing is easy if you know where to go and what to do. Get pre-qualified for your auto loan in minutes without having to fill out multiple applications at multiple dealerships.
I'm Jason Lanier - Thanks for reading and I hope that these tips help you!
Article Source: http://EzineArticles.com/?expert=Jason_Lanier
Article Source: http://EzineArticles.com/4173997
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| I Need a Car Loan But I Have Bad Credit - Where Can I Go to Buy a Car? |
[07 Mar 2013|04:10pm] |
There are several options that are available if you find yourself needing to buy a car with bad credit. This article will outline a few options and hopefully assist you along your way to gaining the financing that you need.
First, what is your credit score? Getting a current copy of your credit report is something that can help because that way, you'll know exactly what you're up against. Knowledge is power especially in the case of overcoming bad credit to purchase a vehicle.
Choose the right type of lender...
Some people get confused with the terms "prime" and "sub-prime" lenders. A prime lender works with people that have very good credit. Sub-prime lenders typically only lend to those that have lower credit scores. If you have bad credit, then a sub-prime lender will give you the best opportunity for getting financed.
Sub-prime lenders have requirements and guidelines that must be met in order to get a car loan. Some are more strict than others so obviously, if you have a low credit rating, you'll be able to get a quicker loan through a lender that has guidelines that you can meet. Unfortunately, those guidelines aren't published by many, so you'll find help in using a website that has can match you with the best lender for your situation. More on that in a moment.
Avoid the common mistakes...
Buy here, pay here car lots are an option if you are backed in a corner and have no other option. Unfortunately, many people turn to these types of car lots when financing alternatives are available with real car loan companies. Some of those are available online if you don't have them in your local area.
Find out what you qualify for...
If you have an income of at least $1500.00 per month and a steady income, chances are that you qualify for a good car loan through a sub-prime lender. There are a few places online that can assist you in determining the amount of auto loan that you are eligible for.
Need good, bad credit financing? http://www.BuyingCarswithBadCredit.com can help point
Article Source: http://EzineArticles.com/4167436
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