You can buy a vehicle at certain dealerships where your credit score will not matter. This is how you can manage to buy the car and pay the loan when your financial choices are limited. You should only focus on getting the right dealership to access such.
Bad credit shall keep you away from credit offered in the mainstream sources like banks. A look at your credit score shall have your requests turned down. The only place you may be lucky is from a credit union, due to the long term relationship you enjoy with them. If all else fails, you have the option of a special finance dealership. You will find such who work with subprime lenders to allow you to get your hands on the needed loan. The credit score will still be an issue, but other factors in your favor will matter. They look at your income, residence stability, down payment, and such. There are then the used car dealerships, where you also get the financing option. These dealerships act as the lenders, arranging for the loan for the vehicle, and establishing a lending relationship with you. They do not consider your credit score. Their focus is on your income and down payment. It is important to confirm whether they keep records of the way you make the repayments, so that your credit score can be improved.
There is a need for you to find out if you qualify for the loan. You should ask what the minimum income and down payment guidelines they usually go with. You will find industry standard which is common among these players. You shall find out more about them at the dealership. The down payment imposed on such loans is usually a variable percentage of the car’s selling price. There is a need to ask at the dealership about the kind of car you were interested in.
You shall be expected to show up at the dealership with proof of income such as a recent paycheck stub, and in some instances a proof of residence such as a utility bill, some personal references, as well as phone contacts, and its proof like a recent phone bill. You shall be asked for the extra items only in certain cases, since the usual requirements are the proof of income and down payment. It is therefore important to confirm beforehand which of these you should come with.
There are many things that can lead to you having a bad credit score. This should not, however, stop you from accessing such assets. An auto loan with bad credit is one such way to access what you needed.