Some of the auto lenders that we use on a daily basis.
Exeter helps our clients that have a very low credit score, but at some time in the past paid their creditors well. They are a new lender for us, and we are excited to have them.
SmartWay advisors has a very unique program for people with bad credit including recent bankruptcies. Checkout our recent SmartWay Advisors post HERE for more info.
Santander Consumer USA specializes in helping people with near prime to sub-prime credit. If the customer is approved for a Santander auto loan, the loan is usually favorable for their credit type.
AmeriCredit is a lender that specializes in helping people with near prime, and sub-prime credit obtain auto financing to purchase a new or used car.
Chase Custom Finance specializes in helping people with poor credit obtain auto financing, provided that the customer has a decent investment (down payment) in the vehicle.
Capital One Auto Finance is a great source of auto financing for people with less than perfect credit.
Ford Credit offers great rates on new cars. They will sometimes overlook negative items in your past if we help you buy an affordable brand new car. Down payment always helps with Ford Credit.
WFDS offers great prime and sub-prime financing to the people they approve.
Alaska USA offers great auto loan advances and interest rates for people that have good credit and people that have good credit with a couple small dings on their credit.
Fifth Third Bank (5/3) offers some of the best loan rates out there for good credit customers, additionally, they offer some great loans for mid-level credit too.
Harborstone Credit Union helps us get great loans for our customers that have good credit, and our military customers that are first time buyers with no bad credit.
Coastal Credit specializes in helping military personnel with bad credit obtain auto financing.
MILES specializes in helping active duty military obtain auto financing, even with bad or no credit.
Security National primarily helps active duty military obtain auto financing.
Tidewater Motor Credit helps people with recent Chapter 7 Bankruptcies.
Prestige Financial specializes in helping people that have recent Chapter 7 or Chapter 13 Bankruptcies.
Avid specializes in helping people with recent Chapter 7 and Chapter 13 Bankruptcies.
“Nice Car – Friendly Service – had a home town feel.”
Approval Specialist: Brian Griffith
Cell: 253-987-6006
The only truth that matters on credit applications is the VERIFIABLE proof.
For example: If you are a server/bartender and you make minimum wage plus tips, when you fill out a credit application for an auto loan, you will probably only be able to use the portion of the income that reports on your pay stubs. All the cash tips that go unreported do no help you prove income.
Another example: If you rent or own a home, and other people live there with you and pay part of the rent, you can only split the rent on your application if those other people are not your spouse and are on the lease/mortgage with you. The only possible exception is if you claim rental income on your taxes for the rooms you are renting out. Some lenders will offset your debt with the additional income.
In this day and age, lenders are smart. You cannot slide by with stated income or stated rent loans if you have less than perfect credit. The lenders are going to verify everything.
There are websites out there that will send you fake pay stubs in an attempt to help you prove your income. If the lender tries to verify the info on the pay stub, not only is your loan declined, but you will be black listed by every lender that lender works with. Oh yeah…it is illegal too.
Long story made short: Be honest. If you have questions, talk to your finance person before he submits your loan application to the bank. All changes made after submission are looked at much harder and the lender is less likely to approve you at that point.
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?
