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How Bad Credit Can Cramp Low Down Payment Car Loans in Auburn Washington

With bad credit, it can be hard to function as an adult because it doesn’t allow you to afford the things you want like new or used cars. Having bad credit can cramp your spending style.

Work on the best credit score you can before buying a used car in Washington

A 700 credit score is considered good credit. Any credit score under 600 is considered bad credit for the most part. You might have a hard time getting a used car or any car for that matter with that kind of credit score.

If you have bad credit you can struggle to get a car loan and such and if you can achieve that you might have a car loan with a high-interest rate that might not make the car worth buying it.

That’s why I encourage you to always be working on your credit. With the credit score, you have the bank will get you the rate that goes with the credit score.

A 760 credit score can help with a 4% interest rate on a car loan. That’s where the doors can open with no money down or low money down car loans in Auburn Washington.

But I don’t recommend not doing a down payment on a car because that means you can become stuck with payments on the car for years.

Most car dealers in Washington want a $500 down payment for a used car or if you can do more like $1000 that will help bring the auto loan payment down on the used car.

Going without a car isn’t something you want to do. Some car buyers with bad credit are getting five-year auto loans at a 27% interest rate on a $15,000 car and most likely that’s a used car.

So if that can shed some thought on the importance of a good credit score you can see if a car dealership in Auburn Washington can get you to 2.49% which isn’t bad but you need a down payment and know what you’re looking for with a used car.

Another thing is to get pre-approved for an auto loan because that gives you “power” with the local Auburn WA car dealership for how much you can spend and it also allows for the car salesman to lean on the special finance managers to get the best rate loans they can at the car dealership.

Finding car dealerships to work within Auburn Washington

Get working with a local car dealership that can show you the used car inventory you want in Washington.