Did you know that there are auto dealerships in Connecticut that have programs that are specifically created for those with bad credit? Yes, it is true. If you have bad credit or no credit, buying a car is still a possibility. Dealers that specialize in bad credit auto financing are putting drivers, who are working on their credit history, behind the wheel in no time at all. Sometimes it can feel like having bad credit is better than having no credit all, simply because at least there is a history to work off of instead of a blank credit history report. Many traditional lenders are not willing to take on a new credit borrower for fear of defaults that are so common today with the stumbling economy. No-credit car dealers will meet the demand of selling cars to those without any credit history as well.
Many bad credit car dealers in CT are set up in this manner. What they offer are used cars that are in good to excellent condition to make them available to those who need to work on their credit history. In this situation, the purchaser puts down little money and makes payments directly to the car dealership instead of a lender. Just like a regular loan, there is an interest payment made in addition to the purchase price of the car, but more often than not, the payments are made once a week instead of once a month, giving the new car owner some greater confidence in making their payments. These car dealers specialize in this kind of lending so they know how to work with you to find the right car for the right price that can be made in smaller payments that you can afford. No credit history car shoppers are welcome at these dealerships as well, giving the purchaser a fresh start at learning how to borrow and repay debts.
Having credit issues does not mean that you have no options. There are resources available to those who need to work on their credit history in a way that does not further the damage and take advantage of those who feel that they have limited options or who are forced to choose something that is financially undesirable. Understanding what you can take advantage of will help you further your financial goals, along with getting you in the driver’s seat.
Have poor credit and need a car? Contact www.franksautocredit.net or (860) 649-3000