While the actual process for the loan may vary depending on the auto dealer you choose, those who prefer to work with people that have bad credit in Houston TX are more likely to be flexible and understanding of your needs. While most lenders would prefer that you hold off on a different car and rebuild your score first, it may be impossible to do so. Rebuilding scores can take years, especially if you’ve gone through bankruptcy or have a significant amount of debt.
What To Do
The first thing is to know your score and why it’s as low as it is. Remember, you’re only considered subprime if you have a score less than 620. You can get your report online and view what lenders will see, helping you understand the process a little better.
Likewise, you may be able to immediately boost your score by paying off small debts and paying your bills on time. Waiting just a few months while paying everything down as best you can may boost your score up to 100 points.
Independent
The Houston TX bad credit auto dealer you choose is likely to be an independent dealership. They may work with a particular lending company to get you the best deal and the most loan for the least interest. Likewise, you can go to a lender first and get preapproval for a loan amount, ensuring that you get the money you need for the car you want.
They specialize in subprime loans, so they’re more willing to lend you money, even if you have a poor score or a nonexistent history.
A Houston TX bad credit auto dealer is on your side. Visit The KEY for preapproval and start searching for your new-to-you car. Visit us for more information.
