I can help you with Credit Union financing. As long as your credit score is around a 620-650 or higher I can get you approved with a local credit union with little to no money down.
If you have a decent credit score (620-650+) it is super easy to get approved, takes about an hour or so at most of the local credit unions.
FIRST TIME BUYERS
I have a handful of credit unions that will finance "first time buyers". They require you to be on your job for at least 6 months and they generally want 10%-20% down of the out the door price. The interest rates are very reasonable for first time buyers, usually in the 4%-8% range depending on your circumstance.
Keep in mind, the lower your score, the more likely that the Credit Union will want some "skin in the game/money down". Example: if you have a 620 score, the credit union will probably want $1,000-$2,000 down (sometimes more). If your score is over 700, most likely the credit union will require little to no money down. Either way, by using our local credit unions, you will get the absolute best interest rate available on the market!
- In 26+ years in this business most of my customer's have paid cash or already have a pre-approved credit union loan, a USAA electronic check, etc. I think because of the types of vehicles I sell and the price range of these vehicles, I have attracted mostly cash buyer's over the years.
If you need vehicle financing and you do not have a relationship with a local credit union...I can help!
Why I don't offer financing for "credit challenged" customer's....
Bad or "challenged" credit customer's really take a beating when it comes to fees/pricing
- Almost all finance companies that will finance bad or challenged credit customers charge, in my opinion, enormous and predatory fees and interest rates.
- When they force me to mark the car up $1,000, $2,000 or $3,000 in order to cover what they call their "discount" fees or "acquisition" fees, well I just don't feel right about that.
- I believe that someone with credit challenges will make their situation worse by signing for a loan that is so predatory. Do what Dave Ramsey says, Take $1,000 or $3,000 and buy a dependable clunker, these vehicles do exist. Can you just open Craigslist and go down the block and buy one - NO! It takes some time and effort to make sure you get something dependable.
- I have provided a "Purchasing advise" section/tab on this website to help you in searching for that "affordable" vehicle. Also, make sure you read the "About Us" page to learn how not to make the same mistakes that I made years ago.
Conclusion: Most of these "high interest" and "predatory" loans want $1,000-$3,000 as a down payment anyway - use that money to own something outright! Use your monthly savings to improve your credit situation so you can get away from the "predators".