Tips for buying a used car with bad credit in Anchorage
“No credit? No problem!” You’ve probably seen this as you shopped for used cars in Anchorage. Believe it or not, it’s true! You can still buy a used car with bad credit, history of bankruptcy, or no credit at all. At Kendall Used Superstore, our financial experts will work with you as you search for used cars, truck, or SUV in Anchorage. That being said, there are a few things you’ll want to do during your car buying process.
Find a trusted used car dealer
Sometimes we’re afraid we’re condemned to the local jalopy dealer because of history of bankruptcy or bad credit. But you shouldn’t feel trapped because of your poor credit. You can still buy a quality used car from your trusted Anchorage used car dealership at Kendall Used Superstore, and our financial experts will help you secure a bad credit car loan.
Get a co-signer
One of the easiest ways to get approved for used car financing with problem credit is to have someone with better credit help out. You’ll benefit from a co-signer’s good credit score by essentially having them vouch for you as a buyer. Of course, this will have a direct effect on their credit, so it’s a good idea to make sure this is someone with which you have a strong relationship.
Make a bigger down payment
You can always lower the amount you’re financing your car for by increasing the amount of money you put down on your used car. Unless you’re in desperate need of your next vehicle, it’s OK to put your purchase off for a short time and put some money away to use as a down payment. Another benefit of growing your down payment is showing that you’re fiscally responsible and have the ability to keep up with your used car payment. You can use our car loan calculator to get an estimate of your monthly used car payment. This can help to give you an idea of an amount that might be a good down payment.
Build your credit
This would also involve putting off your used car purchase, but it can have many long-term benefits. You can build your credit by effectively paying bills on time and paying off other debts. If you take the time to build your credit, you’ll secure financing more easily.
Don’t feel cornered by your bad credit. Take the time to find your best option for buying a used car with problem credit. You can also get in contact with the financial experts at Kendall Used Superstore. Visit our Kendall Finance Center to find out your best used car financing option in Anchorage.