Visiting a dealership and choosing which model of a used car to buy is so exciting, but when you realize that you have a bad credit, all your excitement will just go down the drain.
Hence, follow the stages and comply with all the requirements before proceeding to the car buying process.
Some buy here pay here dealerships have bad credit customers who need endorsement prior to car shopping.
Sometimes, a pre-approval is needed by a car dealer so you can determine how much amount of loan you are approved of.
To be guided on the process of car buying, contact the dealership so you will be well informed about choosing which vehicle suits right for you.
Here are some tips to qualify yourself for buy here pay here dealership.
Comply with All the Requirements
Prior to selecting which car make and model to purchase, call a dealer who receive phone calls and find out what are the necessary requirements needed for you to submit to your dealership.
These requirements are important to verify your identity prior to releasing your car.
For a clear explanation about the requirements and to be aided in your car shopping process, call or text your dealer directly.
Make sure that you can receive text messages from dealer too to avoid missing out some important information.
1. Driver’s License or Identification Card. Always bring with you your driver’s license or any identification card that validates your existence.
If the dealership needs a photocopy, then be ready for it also so you have something to present in behalf of dealer.
If you have no identification card in your possession, it’s high time you ask one from government agencies or
your place of employment.
2. Proof of Employment. To prove that you have a permanent job that is sufficient to pay for the loan you applied, bring your paycheck stub or your recent bank statement.
If you have a business, bring a copy of your permits and other important papers.
These supporting documents will prove your overall profit and will encourage the dealership that you can really pay the monthly installment they have scheduled.
If you can send and receive text messages, data rates may apply, ask them for other valid proofs of employment.
3. Proof of Residence. No matter what your credit history is, you should furnish a mail copy with your existing address.
Some valid proofs of billing are electricity bills, cable and internet bills, telephone bills indicating message and data rates, mortgage agreement, etc.
If you’ve been asking why the address is needed, this will prove that the mail will reach to the address you have provided.
However, if you have been renting and you have no rental agreement of some sort, contact a dealer that accept calls at the mobile phone to inform them of your situation.
4. Trade-In Title. Take your trade-in title with you in your visit to the dealership especially if there’s a scheduled trade-in.
Ask for the mobile phone number of your dealer or their employees if you want to know more about the trade-in process.
Have an Initial Down Payment
Actually, some dealerships offer no down payment. If they are given consent to receive text messages, ask them more about this.
But dealerships are opting in to receive a down payment, and this is still important for some reasons.
If you prepare a down payment, especially if it is a higher amount, you are provided with low monthly payments and low interest rates from the buy here pay here PA dealership.
Your dealership pays for your taxes up front, and this is taken from your down payment.
Once you’ve paid something for your taxes, the principal would determine how much you will contribute monthly.
This would vary, however, so always consult a financial expert to calculate the costs so you could understand that message and calculation from your car dealers.
Before going to your dealership, save time by preparing the paperwork, the down payment and other things needed.
Contact the dealership that has consent to receive phone calls and ask if there are other items you missed out.
If you apply the tips on how to qualify for the buy here pay here dealership, rest assured that you can fully enjoy selecting lots of cars for sale during your auto shopping spree.