Used Car Buying With Subprime Credit

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Used Car Buying with Subprime Credit Used cars are bought every single day because they are much cheaper and more affordable to most people. There are still many circumstances though when a loan is necessary and if you have subprime credit problems can arise. Working around this is possible, but you have to know what to do, where to stay away from, and where will work for you.

When you have good credit it is going to be harder to find a place that will not approve you for a loan than a place that won't. Unfortunately the opposite is going to apply for those who have subprime credit and are looking for used car financing. Here at FundingWay.com we have years of experience with helping those in some of the bleakest of financial situations to get approved.

Getting Started

The first thing that you are going to want to do if you plan to get approved for financing with less than perfect credit will be to figure out exactly what your credit score is. This actually is a bit more optional since the dealer is going to end up checking it their self but it is still good for your reference to know. Who knows maybe your credit score has raised and you won't have to apply for high risk auto loans. Also you never know what type of dealer you are going to be messing with and they may embellish your credit score a bit to try and stick you at a higher interest rate than you actually deserve.

In any case though where you should actually apply should not be directly at dealerships. This can be extremely time consuming and you never exactly know for sure if you are getting the best offer in town. This is when places like FundingWay.com are going to help. We help to make sure that you get the best financing offer you can possibly receive and it all starts by filling out an application of ours.

What Applying Does

After you have filled out the application it will go through a process. The process begins by going under review by our team of financing professionals. There your information will be gone over and matched up with a dealer that is most likely going to be able to approve you under your conditions. Your information is then passed onto the dealer and they will contact you to let you know if you have been pre approved. As long as you have been pre approved you will be able to go in, discuss the final terms, pick a vehicle, and drive away! It has never been easier to buy a used car with subprime credit and in the end repair your credit score other than applying at FundingWay.com!

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Do you meet the basic qualifications?

  • At least 1 year with current employer
  • A minimum income of $1,500 per month
  • No repossesions within the last year
  • Any bankruptcies must be discharged
  • Money down may be required, but not in all cases
  • Must be a current resident of the U.S. or Canada