You drive into the car dealership, get out of your vehicle and take a look around. Usually within a minute, a salesman has spotted you and greets you with a smile. You're encouraged to test drive a vehicle and to look at payments and interest rates inside the dealership. Once numbers are agreed upon, a credit application is requested. Everything seems to go great up until the point that your credit report is pulled. That's when things change and you know what it feels like. It's disappointing, humiliating and embarrassing.
You go from wanting to buy a car, to wanting to just get approved. It becomes a feeling of desperation for many people. Salespeople and finance managers are aware of this, which makes negotiating price and interest rates much more difficult. In some cases, it's just impossible. The dealer knows that you know you have bad credit. Getting approved becomes the issue and it's something that puts you in a weak position to negotiate, anything.
Myth: If you have bad credit, you can't get financed anywhere but at a car dealership.
Fact: It's easier to get financed outside of a car dealership, on your own.
Getting approved for a car loan, if you have bad credit, is actually very simple. It's only difficult for you if you don't know where to go. You can get approved for a car loan based on your income, online. The internet has opened up possibilities for people that in the past, were unheard of. In fact, getting a car loan with no money down is very simple if you have bad credit. You've got a choice. You can either accept what you've been told at a car dealership as truth or you can do something about your situation and get the car loan that you deserve.
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