Dealing with a bad credit score can be daunting, especially when it seemed to sneak up on you. Most people don’t plan to get far into debt and use cards and plastic money in emergencies. They may still find themselves on the lower end of the spectrum, but still need reliable transportation to get to work or school. It’s important to learn how to get a car in Houston TX, even with a poor score.
The Different Loan Types
Primarily, you’ve got a few options when seeking a loan. Unless you have enough money saved up, you’re going to need a lender willing to help you with a poor score. The first place to go is a credit union, especially if you belong to them. They’re ready to help those in need than traditional lenders. While you can visit a traditional bank for money, they may not be willing to help you.
The next place to go is the dealership, as most dealers offer financing options for anyone, even those with bad credit. However, be prepared to pay higher interest rates and have higher down payments.
Another option to get a car in Houston TX is to be preapproved for a loan. Subprime lenders specialize in loans for people with lower or no scores. Most of these companies work to preapprove you in less than a day, sometimes as little as a few minutes. Once you get the letter approving you for a particular amount, you can go to the dealership, and they’ll deal with the subprime lender.
Other Tips
It’s always a good idea to get your reports and scores and know what’s on them. Mistakes are common, so you can fix some of the problems just by checking.
To get a car with bad credit in Houston TX, visit The KEY Online, as they offer preapproval for auto loans in minutes.
