Bad Credit Car Loans in Washington

I just got back from the training seminar with a new lender that allows me the ability to give ANYONE that walks in our doors a WRITTEN approval on just about any vehicle. It is a great system that allows people with all sorts of credit problems the chance to buy a car and start rebuilding their credit.

Visit WashingtonAutoCredit.com for your opportunity to get a Guaranteed Credit Approval.

Must schedule appointment and visit store to recieve written approval.

Stipulations will apply, just like any other loan.

More cars than kids in Africa. No Dollars Down! Check out the headlights on these babies!

WashingtonAutoCredit.com will soon be partnering with Credit Acceptance and with that will be able to offer Guaranteed Credit Approval to all customers that come into our Olympia, WA dealership to meet with us.

The site has been up a few years now, and we seem to be doing quite well in terms of search engine rankings and traffic. We have been so successful at attracting users on the Internet that we receive several applications a day from outside of the State of Washington. That is fine, we still accept the applications. However, if you apply from outside of our area, the application is automatically routed to our affiliate network. We are usually able to help our users find a dealer to help them get an auto loan in their local region.

The only other reasons that you would be submitted to our affiliate network are under the following conditions:

1. You ask to be considered for the affiliate network. Whether because of distance, or some other reason.

2. You decide you do not want to work with our Olympia office. Maybe you do not like us, maybe you do not like the vehicles you qualify for.

3. You do not respond to the Olympia office contact attempts…either by phone or email.

4. We cannot help you. Although rare, sometimes we find a situation that one of out affiliate dealers will be able to assist you better than we can. If we do not see a way to go, sometimes another set of eyes looking at your situation can help.

We are not perfect, and do not claim to be. We are very effective at helping people with bad credit buy a vehicle. Most people who talk to us decide to get help from us. If you have a need for a car, and credit problems, give us the chance to help.

Get an Auto Loan with Bad Credit at WashingtonAutoCredit.com

If you have to get a vehicle with a starter interrupt device installed, you need to remember to pay on-time because your car could stop working at any moment.

The Case for the Extended Warranty

While many manufacturers are offering longer warranty coverage on their vehicles, the debate about buying an extended service contract when purchasing a used car has resurfaced.

At Washington Auto Credit we suggest using common sense when buying a car.  We help people find vehicles that will fit their budget rather than trying to make your budget fit a vehicle that is just too expensive.  The purpose of one of these loans is to re-establish your credit, and we are dedicated to helping you reach that goal.  During the buying process, you’ll have the opportunity to consider a few dealer “add-ons”. These extras can range from window etching and undercoating to paint protection and extended service contracts.  While many of these items may not provide a huge benefit, you might want to take a closer look at the service contract – also called an extended warranty.

Why Should I Get an Extended Warranty?

When you take out a high risk loan, you are paying more in interest, than you would if you had perfect credit. For that reason, a bad credit loan payment will usually tie up more of your monthly budget. This doesn’t leave much wiggle room for unexpected expenses. The idea behind an estended warranty is the same as insurance – to spread out the risk into affordable monthly payments instead of one large, catastrophic one. It’s much easier to budget for a small monthly expense than for the unexpected hardship of a major breakdown.

The Bottom Line

If you are about to buy a car with a bad credit car loan, it is important to consider a used car warranty. Ideally, opt for the maximum term available, up to the length of your finance contract.

As far as applying for a car loan, for years, Washington Auto Credit has been helping people with credit problems get approved for new and used car loans. We work with the leading subprime lenders to get you approved. Once you’re approved, you are on your way to rebuilding your credit score and a brighter financial future.

Sometimes customers ask us if they need a driver’s license to buy a car through one of our car dealerships. Often it is better to answer a question with a question. If you do not have a driver’s license, what are you doing trying to buy a car? Or perhaps, would you be able to provide full coverage insurance on a vehicle registered in your name without a license?

If you are a cash buyer, and you want to register the vehicle in someone else’s name (someone that has a valid driver’s license) then you can buy a car. Or if you are a cash buyer and you want to go buy a car from a private party, instead of going to a dealer or getting an auto loan.

Otherwise, if the WashingtonAutoCredit.com team is going to help you buy a car, then the answer is “yes” you need at least one driver’s license on the loan/registration. So, if you do not have a driver’s license, and your husband/wife has a driver’s license, then the only ways to try to get approved for the auto loan would be the husband/wife by themselves, or a joint loan with both of you on it.

If you have any other questions about buying a car with bad credit, contact the Washington Auto Credit team at 888-300-3502 or apply for a car loan online.

According to BankRate.com:

“…the median FICO score in the United States is 723…”

“A median of 723 means half the people fall below that score and half have scores higher. More specifically, here’s a breakdown of how scores are distributed across the population…”

300-499 = 2 percent of the population
500-549 = 5 percent
550-599 = 8 percent
600-649 = 12 percent
650-699 = 15 percent
700-749 = 18 percent
750-799 = 27 percent
over 800 = 13 percent

Even with a sub-par score and the difficult market you can still buy a car or a house.  It just may take a little more work and the help of an experienced loan officer like ours.
Go to our home page to find out how we can help you obatin a loan and rebuild your credit.

Lenders have found a direct correlation between monthly income and loan performance. Seems to make sense. The more money you make, the more money you have to make your payments. Granted, it does not necesarrily mean that people who make more money pay their bills on time, or manage their money well. However, the first part of paying your bills requires you to have money in the bank.

So why haven’t lenders stopped lending money to people who make less than $12,000 per month? Because lots of people who make less money than that can pay their bills on time, and repay loans. What is the lowest amount of money someone should make to consider obtaining an auto loan? The answer to that question depends on who you ask, and when you ask them.

Several years ago there were lenders that would allow someone to get an auto loan with as little as $1,000 or $1,200 in monthly income. Over the years, the average minimum income required by auto lenders has steadily increased. First, to $1,500 per month, then $1,800, then $2,000. Now, many of the lenders we deal with every day have raised their minimum income to $2,500 per month.

What does a minimum required income of $2,500 per month mean?

People that make $10/hour ($1,730/month), $12/hour ($2,079/month), or even $14/hour ($2,426/month) cannot qualify for an auto loan with many lenders. Many people live off of $14/hour or less and for many people it is impossible to find work that roughly twice the national minimum wage.

Why did this happen?

The economy started going South about a year ago, and as loan losses started to pile up the lenders have been forced to “tighten” their underwriting in an attempt to improve their loan portfolio. Higher gas prices, food prices, and unemployment rates have forces many lenders to close their doors or significantly restrict their lending practices. Let’s just hope that this “tightening” gets looser soon. Lots of deserving people need auto loans.

HIDDEN CAMERA PENNY PRANK AT USED CAR LOT

Great commercial. Pennies are money too.