Bad Credit Car Loans Morgantown WV
Ask Our Finance Team All Of Your Car Loan Questions!
Tri-Star Uniontown CDJR, which is located about 35 minutes northeast of Morgantown, is here to assist you with all of your car loan questions. We know that it can feel overwhelming to buy your next car, especially if you have been dealing with a poor credit score. Have no fear! The sales and finance team here at our dealership is going to walk you through the process step-by-step and prove to you that everyone can buy a car, regardless of the kind of credit score you are currently working with. Nothing is more important to our team than watching you succeed and drive away happy. That's why we are going to be sharing with you some ways in which you can still get the car you want, regardless of where you stand with your credit. We're all a team, and we can't wait to get started working together.
1. How do I find out more information about my credit score?
Before we get started finding you a car loan that makes the most sense for your life, you need to have all of the information possible about where you stand with your credit. We recommend either utilizing your own bank or major credit bureaus such as Equifax, TransUnion, and Experian. You'll not only get information about your exact credit score, but you'll also find out about the length of your loans, how many loans you currently have, the credit cards you have open, how much money you owe, and how often you make on-time payments. Once you have this information in front of you, to improve your current score, you can work to pay down some loans and stay more consistent with on-time payments. We don't recommend closing out accounts, especially before you come in to buy your next car!
2. What else will lenders consider beyond my credit score?
The exact score you have is just the tip of the iceberg when it comes to buying a car. We want to assure you that our finance team is going to be considering more than just one number. We'll want to discuss with you the various sources of income you have, and have you bring in pay stubs, proof of employment, and prove that you have steady sources of income. We'll also want to consider your current debt-to-income ratio, and if you have paid down some of your accounts, make sure to bring in proof of that, too! Other major factors include payment-to-income ratio, payment history, and credit utilization.
3. How can I reduce the amount of money I need to borrow?
A trick to consider with your credit score is finding ways to reduce how much money you have to borrow in the first place! One way to do this is to make a down payment. Not only does this lower what you are asking to borrow, but it also proves that you are committed to the loan and paying it off! We also suggest considering trading in your current car if you have one. You'll be able to check car guides to see what it could potentially be worth, and that worth can go towards the next vehicle that you are interested in. This is especially convenient if you don't want to have to go through the process of a private sale, which can be time-consuming.
4. Should I buy a new or used vehicle?
There are a lot of options for you to consider at Tri-Star Uniontown CDJR. We make sure that not only do we have a new inventory of vehicles to choose from, like the Ram 1500 and Grand Cherokee, but we also offer a used inventory that can prove just as beneficial for you. Should you be interested in keeping costs low, you may want to buy a base model of a new car on our lot, or view what kind of options you can find in our used inventory. Our sales team will be around to answer questions, provide their own suggestions, and make sure you are sticking to options within your budget so you have your expectations set!
5. Consider the option of a co-signer!
The final option for anyone with a bad credit score is to consider getting a co-signer. We always recommend that you choose someone you inherently trust and have a good relationship with, as they will be the person who has to take on the loan should you ever, at any point, be unable to pay. Co-signers should be people with excellent credit scores who help prove to lenders that the loan will be paid with confidence. Have questions about co-signing a loan? Then we recommend using the form below, and we'll get back to you as quickly as possible.
Find Your Next Vehicle at Tri-Star Uniontown CDJR
Are you ready to get started on your car search with us? Whether you're looking for a new car or a used option, our finance team will make sure that you get the loan that makes the most sense for you. We'll do everything in our power to walk you through every step and have you feeling confident when you sign the final paperwork. You deserve the best that we have to offer, and we will make that happen for you. Tri-Star Uniontown CDJR is always on your side. For more questions, use the contact form below.