Sound familiar? Maybe not to you, but we hear it often. At WA Auto Credit, we help people with bad credit get approved for an auto loan to buy a car through one of our auto dealers. Obviously, if you have good credit you can pretty much buy whatever you want. However, if you have bad credit, your options are usually a little limited by the auto lender. Read More…
At WA Auto Credit, we recommend the use of automatic payments when you have an auto loan. Why? It is simple really. Most of our customers either currently have bad credit, or not so long ago, they had bad credit. Either way, why risk having your credit rating go even lower because of a simple oversight?
Studies have show that the more references that a borrower has, the better credit risk the borrower is. Why? There are actually several reasons, but the most obvious is collect-ability.
Why do references make my loan more collectible?
At the risk of answering a question with a question, what do you think happens when you are late for an auto loan payment? First the lender calls you. Then they start calling the friends and family that you list on your reference list. Then, when the loan is a couple months late, they start driving by your house, and your references houses looking for your/their car so they can repossess it. So the more people on your reference list, the more places they can look. An applicant with good credit can usually get away with 2 references, and only name and phone number for each reference. Poor credit lenders commonly ask for 6-10 references complete with physical address and phone number.
Another reason that people with references pay their auto loans better include that they might care more what their friends and family think about their credit. Think about it, if you KNOW that your family will be called by the lender if you are late with your payments, you would probably be more motivated to keep your payments current, right?
All of our customers are approved for an auto loan, even with bad credit. We deal with a few select local dealers, and all transactions are processed directly through WA Auto Credit in our Olympia office. Just like any other loan, auto loans have stipulations and other requirements set by the lender.
The auto loan stipulations usually requested by a lender could include: acceptable proof of income, proof of residence, proof of bank account, proof of phone, a minimum number of personal references, or something else not mentioned.
In addition to stipulations set forth by the auto lender, the lender also put restrictions on the auto loan which could include: year of vehicle, miles on vehicle, loan-to-value ratio, make or model of vehicle, maximum monthly payment, required down payment, and so on.
Basically, it is our job to help balance all of the lender requirements and stipulations on your loan and help you pick out a vehicle that meets the lender guidelines. The loans we help you get will show up on your credit report and help you earn a positive credit rating with on time payments. Any of our approval specialists can help get you started and discuss your approval requirements so that you can start driving your new car right away. Simply start the application process by filling out the form at the top of this page, or call us at 253-353-2769 we can help you over the phone with you.
Buying a car with less than perfect credit can be stressful. Luckily, there are some things you can do that will make the process go more smoothly. If you’re in the market for a vehicle (or you know someone that is) read on; hopefully this will help.
Be open-minded.
When you’re rebuilding your credit this is especially important. Our staff is here to help you, but it might not be possible to get a loan for your dream car. Think of this as a step up the ladder. It might not be time to buy that gorgeous full-size pickup truck just yet. However, if we help you get an auto loan and you make the payments on time, you might be able to buy that truck a lot sooner.
Shop efficiently.
Get approved before you come in, then make an appointment to come see your options. You’ll find the process much faster, and much less stressful than if your salesperson were zipping you all over the place looking at cars that might not work for you loan.
Come prepared.
Bring the normal loan documents: pay stubs, proof of residence (utility bills work for this), social security card, proof of insurance, and anything else we ask for. It makes the car buying process a lot smoother if you’ve got all the documents in hand.
Repair your credit.
Whether you decide to use our FREE Credit Repair Software (ReCreditPair) or to use a credit repair company to clean up the old negative items on your credit, it is a very important step. The combination of building new positive installment credit (your auto loan) and cleaning up the old negative items (credit repair) will help you increase your credit rating much quicker than just doing one of the two.
Have fun.
Have fun with the idea of getting a new vehicle; have fun with the idea of getting yourself back on the road to good credit. Let yourself enjoy it!
We’re always here to help you re-establish your credit with an auto loan on a reliable vehicle that will meet your needs. Give us a call at 888-300-3502 or drop us an email; we would be happy to talk to you about your options!
New technology and Ford are not terms that have historically gone together. The last year or two has been very different for the only US car builder that DID NOT take US tax payer money.
First, they partnered with Microsoft and created Sync. Then, they started creating some really fun cars that people actually want to buy. Now, Ford is integrating HD Radio and iTunes tagging. With the feature, users will be able to select songs they like (up to 100 of them) and when their iPod is linked to the car later, the data is transmitted to the iPod. Then, when the iPod is linked to iTunes the users can either preview the songs or purchase them to their library.
The feature is going to start showing up in Ford’s 2011 model year products that will start coming out in a couple months.
If you have waited until the end of the year to buy a car, you did yourself a huge favor.
Dealer and Manufacturer incentives are at levels we have not seen for quite some time as dealers look for end of year sales to boost their numbers. Even lenders are getting more aggressive so they can meet their yearly quotas. Even if you were turned down for an auto loan, there is still hope to help you buy a car and start rebuilding your credit in 2010.
WA Auto Credit just got our 2009 Federal Income Tax packet from Tax Refund Services (TRS). We are training our staff for our biggest tax refund season ever. With TRS, you can buy a car through us the same day you file your taxes and use some or all of your refund for down payment.
Here is How it Works:
Put your W-2, 1099 and other tax related documents together.
Call 253-353-2769 or 360-412-4120 to setup your appointment with WA Auto Credit.
We help Tax Refund Services prepare your return.
TRS lets us know your refund amount (if any).
Pick out your new car.
Negotiate your best deal, and use some or all of your refund as down payment.
Sign your tax documents, we fax it in to TRS.
Drive home in your new car…NO WAITING FOR YOUR REFUND.
If you have been turned down for a car loan due to lack of down payment, this is a great opportunity to buy a car, get a loan, and start rebuilding your credit. WA Auto Credit has all the lenders to help you get your best loan. Our dealers have a great selection of new and pre-owned vehicles. Together with Tax Refund Services, we can help you buy a car much sooner than if you had to wait for your tax refund.
****Added Bonus**** Ask how we can help you use your refund to buy a car BEFORE you get your W-2!
Call today: 253-353-2769 or 360-412-4120 with your questions, or to book your appointment to buy a car using your tax refund in 2010.
In a time of high unemployment rates, we are proud to say that at WA Auto Credit, business is very good. Tight lending standards from conventional auto lenders means that more people need the help that WashingtonAutoCredit.com can provide.
WA Auto Credit not only had Guaranteed Credit Approval for our customers that come visit us in person, but now we offer that same great service to our Spanish speaking community. Our phone number to our Spanish Speaking Department is (360)545-3223. If you know someone that would prefer speaking to an auto loan specialist in Spanish, we are very excited to provide this service.
Our main goal has never changed: Help people with less than perfect credit get approved to buy a car with an auto loan that will help them re-establish their credit.
Now with our increased staff, we should be able to do that better than ever.
We are pleased to announce that soon there will be a Spanish version of WashingtonAutoCredit.com so that we can better assist our Spanish speaking community. In addition, we will be adding new bi-lingual staff to our WA Auto Credit team within the next couple weeks. If you know someone that needs help getting an auto loan, but speaks much better Spanish than English, WA Auto Credit is the place to get help buying a car.
