car dealers in elgin

How to Finance A Car with Bad Credit

Bad credit is enough to keep anyone out of a car dealership. There is a stigma associated with people who have bad credit, and it isn’t uncommon to see people shy away when someone mentions a credit report. But there are options where bad credit won’t prevent you from getting into an automobile of your dreams.

With The Auto Warehouse, you don’t have to worry about any of that. Here, we treat you with dignity, because we understand that great people have gone through hard times. So we are here to help you. We aren’t just another fly by night company that tries to get you in and charge you 100 times the value of a beat up model from 20 years ago. We offer quality vehicles with a second chance loan.

How to get financing with bad credit?

We don’t ding you for the problems in your past. We aren’t going to disqualify you just because you had a vehicle repossessed. That has happened to many great people. We won’t even hold a bankruptcy against you. However, we many require that you obtain authorization from the bankruptcy trustee first, if you have not been fully discharged.

A second chance loan, is just that. It’s a chance for you to get a vehicle that meets your needs, without having your past held against you. We don’t want to see your livelihood put on the line just because you can’t get a loan. Our Auto Finance Department will work with you to help ensure that you get the loan you need and you are thrilled with the vehicle you finance.

What are the requirements?

Since this is a second chance loan, there are a few requirements that you must meet. These are to ensure that you can comfortably pay for your vehicle, without having any surprises along the way. The first is you must make a verifiable $1,000 each month.

A simple paystub can be used for this requirement. We then need identification that is valid, so we can confirm your identity. The only other requirement is to live within a 50 mile radius of one of our dealerships. That means with a comfortable down payment that starts as low as $500, you won’t have to worry about getting declined for the auto loan that you need.

If you don’t meet these minimum requirements, or you find that you need to take an alternative stance on things, we are willing to work with you. There are other documents that you can use and we will base a second chance loan on a case by case basis. The only way to determine if we can qualify you, based on your individual circumstances, is to get in touch with us and let us know that you have bad credit, but you are ready to take advantage of an incredible vehicle loan.

What’s the process?

To help simplify the process for you, you can prequalify for a vehicle on the internet. Just complete the form and one of our professional loan officers will take the time to review the information and get back to you. When it comes to repaying on your loan and improving your credit score, it is as simple as making a payment online, over the phone, or in person. Whatever works best for you.

Our goal is to simply ensure that you have all the tools that you need to successfully work past the bad credit score, and help you to establish a positive payment history that will help you in all three of the major credit bureaus.

This is your chance to get behind a quality vehicle, while having an affordable loan to make it happen. All our vehicles available are inspected. We ensure that you are placed behind the wheel of a car that you can count on. Even if you are just doing this for the chance to build or rebuild your credit so you have an easier time getting approved for a loan in the future.

This is the best approach you can take. We are a top rated and highly regarded professional company. When you do business with The Auto Warehouse, you’ll find that we don’t surprise you with anything along the way. So the answer to the question, “How do I qualify for a car loan with bad credit?” Is to contact Auto Warehouse today and let us help you.