Step 1: Guidelines
Most car dealerships require a 620 credit score to qualify for 100% financing. If your one of your scores is not a 620, you may need to put a down payment. If you are unable to put a down payment, it may be wise to find a car with rebates. As an example, dealerships advertise $2000.00 rebate or 0% financing. You would choose the rebate as you have the option of using this as a down payment.
Step 2: Financing A Car With Bad Credit In Houston
If you have a great relationship with your credit union, you may want to stop by and inquire with them. Credit unions provide great rates as their money is for the people by the people. Many times car dealerships have great deals with credit unions. Since they do an abundance of business together, it may be wise to take advantage of their buying power. Either way find out what is going to be the smartest financing option for your situation. When your bad credit in Houston gets better, you will be able to choose the lender with the best rate instead of having people tell you which bank will finance your deal!
Step 3: Choose The Vehicle That Works Best With The Bad Credit Situation
Don’t fall in love with color or car. Remember, this is a temporary fix. Eventually you will be able to get the car of your dreams with an impeccable rate. Figure out what car will work. Get a price from a high volume dealership. Make sure to ask for the best price from the sales manager or fleet manager.
Step 4: Shop And Compare Pricing
Take the price the first dealership gave you and call another high volume dealership. Let them know what you are looking for. Give them the make, model and year along with the preferred color. Let them know what your price is with the other dealership. Ask if they can beat the current pricing structure.
Step 5: Compare One More Time
Once you have the price from dealership #2, contact a third high volume dealership. Present your latest deal and ask if the third dealership can beat the deal.
Step 6: Choose Your Dealership
If they can beat dealership #2, you may choose to purchase your vehicle from dealership #3. Or you may take the numbers from dealership #3 and see if dealership #1 can meet the deal.
Step 7: Purchase Your New Vehicle With Bad Credit In Houston
Purchase your vehicle at a less desired interest rate, knowing things will improve soon. This is a temporary vehicle.
Credit is an essential of life. Bad credit in Houston will cost you alot of money. Be smart, do your research. Find the right credit repair company in Houston to assist you in achieving your future goals. Impeccable Credit Services can help. Call 281-419-6811 for a free consultation.
