Bad Credit Auto Sales without a Co-Signer
One of the biggest myths when it comes to bad credit auto sales is that you need a co-signer. This is a total myth. You do not need to ask a family member or close friend to sign on your behalf for the car that you want to buy. They can stay out of the process altogether and you can buy your car without anyone's help - no matter how bad your credit might be.
How to Avoid a Co-Signer
Bad credit auto loans are very common in a used car sale. When you don't want a co-signer, you don't have to get one. You do have to consider the following:
- Your age
- The price of the car you want
- Your monthly income
As long as you are at least 18, you can apply for the different bad credit car loans that are out there. If you're younger, however, you may have to wait a bit.
The cheaper your car is, the easier it is to finance. The truth of the matter is that it comes down to risk - and expensive cars carry more risk. Bad credit car sales are still possible, but try to keep the price of the car within reason.
Your monthly income also matters. The more money you earn, the easier it is to ignore a bad credit score. This is because you are providing that you have the financial means to pay the car loan when you get approved.
What Your Options Are
When you look at your options for poor credit auto sales, consider the fact that you want to get approved for a car loan without having to make applications all over town or all over the internet.
Start with your dealership. They are likely going to be able to work with you better than anyone else in town because they want to sell you the car. If you go to the dealership and explain that you need poor credit auto sales, they are going to be more inclined to work with you or point you in the right direction.
You can even get pre-approved from the dealership or an finance company for bad credit all with the same online application. This is a great idea so you know what your options are in the car lot in terms of what you can and cannot afford.
Bad credit may be an inconvenience, but you can still buy a car with it and without a co-signer.