Get a Bad Credit Auto Loan in Pueblo CO
Get Behind the Wheel Even if You Have Bad Credit
Having less than perfect credit can make many parts of life challenging. Getting a car does not have to be one of those things. Many people believe they cannot qualify for a car loan if they don't have perfect credit. The good news is that you can get a bad credit auto loan in Pueblo CO for the car, truck or SUV of your dreams.
Pueblo Bad Credit Auto Shoppers
The key to getting the right loan is to be strategic in how you shop. Getting an auto loan is a great way to rebuild your credit and improve your score. When you get your bad credit auto loan, your lender will report your on-time payments to each of the three major credit bureaus. After several months of payments, you will see an increase in your credit score. The key is to find the right dealership who will offer you a loan that is in line with your budget.
Things to Consider When Buying a Car
It pays to understand your budget when shopping for a new or pre-owned car. By buying a car that fits comfortable in your budget, you can ensure that you can manage the payments regardless of what comes your way. It also pays to check your credit to find out your credit score and understand how your auto loans will help you to raise it over time.
When planning your car purchase, consider the additional costs of ownership and factor them into your budget. Taxes, maintenance and insurance are all necessary auto expenses, so keep these in mind when you think about your monthly payments. It helps to meet with a loan specialist at your dealership who will outline exactly how much you will pay for your car.
Getting an Auto Loan With Bad Credit
Most borrowers with bad credit believe that they will only qualify for old clunkers and cars that are on their last legs. Many avoid car dealerships altogher and depend on buying junkers from private sellers or depending on buses and public transportation to get around. In fact, you can get a brand new car, straight off the showroom floor, even if your credit is not squeaky clean. If you have had a past bankruptcy, foreclosure or repossession, you can still get a new car loan.
Most large dealerships have special financing departments that will help you to get behind the wheel of a brand new car. These finance specialists have worked with borrowers of all types, from those with perfect credit to drivers who want to use their bad credit auto loans to rebuild their credit profiles.
Used Versus New With Bad Credit
If you are wondering whether it is better to buy a used versus a new car, you are not alone. Many people are confused about which auto loans for Pueblo will be right for them. To get a better idea of what you can qualify for, it helps to think like a lender. Lenders are more willing to loan bad credit borrowers money for new cars than for older ones. The lender understands that making regular, on-time car payments over a series of years can be challenging for even the most responsible borrowers. Lenders understand that most people need their cars to get to work, and want to make sure they are lending money for a car that will go the distance.
If your car breaks down after only a year of payments, it will be difficult for you to get to work and by extension, make the payments. Therefore, lenders prefer to loan money for newer, more reliable cars. If you are applying for a bad credit auto loan, you may have an easier time qualifying for a new car than a used one. There are several auto loans for Pueblo borrowers, whether you are buying a new car or a used one.
Lenders Understand Budgets
One of the things that lenders will take into consideration when deciding to loan you money is the overall budget for the car. If the car payments, maintenance, insurance and taxes are going to stretch your budget, the lender will take this into consideration. Maintenance costs on older cars can be high, so lenders prefer that you have a newer car that will need less maintenance over the life of the loan. Newer cars often carry with them lower interest rates that make them more affordable over the life of the loan. A Pueblo bad credit dealer can help to connect you to the right lender for all of your auto loan needs.
The Best Place to Get a Bad Credit Auto Loan in Pueblo CO
Wilcoxson Auto is the area leader in auto loans, and can get you behind the wheel of your brand new or used car today. We have hundreds of vehicles in stock, and you can drive your car off the lot the same day. Our special financing department team will work with you and your budget to make sure you get the loan you need. Pueblo bad credit borrowers contact Wilcoxson auto every day to get the car of their dreams.
When you want to get a bad credit auto loan in Pueblo CO, contact Wilcoxson auto to get the best deal. Our network of bad credit auto loan specialists will compete for your business and get you money. We have a range of auto loans for Pueblo borrowers, and there is one that suits your budget.