Tote the Note Car Dealers Offer Bad Credit Loans
Even though the economy is improving, there are still a lot of people in the Seattle area who are dealing with the lasting effects of hard financial times. However, having bad credit doesn't have to mean that you can't get the car that you need. There are local tote the note car lots that offer car buyers with credit problems the ability to get the financing they need to purchase a vehicle.
Tote the note car loans are also commonly known as buy here pay here car dealers. With these programs, the car dealer directly finances the car purchase, rather than running it through a local bank or lender. This gives the car dealer the ability to be more flexible in determining who will qualify for financing. You will also make your loan payments directly to the dealer, given that banks will not purchase these riskier loans from car dealers.
The ability to apply for applying for tote the note car loans from car dealers is generally fairly easy to do. Most dealers in Seattle, WA look for a few common factors, including:
- Proof of sufficient monthly income
- Proof of residency
- A large enough down payment
When you visit your local buy here pay here car dealer, you should take along at least two of your most recent paystubs, two or three bills sent in your name to your home address and the money you intend to use as a down payment. As long as everything is in order, you can complete the entire transaction within a few hours.
Things to Consider
Tote the note car dealers help people with few other options for purchasing a vehicle, but there are things you should consider before agreeing to this type of financing. You will be limited to selecting from those cars that the dealer designates as part of the program, and they are generally older, high mileage cars. You will also be required to make your payments to the dealer on a weekly or bi-weekly basis, so you should ensure that your budget will allow for such a payment schedule. Finally, some buy here pay here lots do not report your payments to a credit bureau, so you should verify that your payments will be reported so you can use this loan to help rebuild your credit.
Bad credit can limit you in a lot of ways, but it doesn't have to prevent you from getting the auto loan you need. Local car dealers like Doug's Credit Center offer financing programs specifically designed to help people who have credit problems. Using such a loan can give you the car you need and the chance to improve your credit, making it more likely that you will have more auto financing options in the future.