So after a lot of reviewing and questions asked what kind of loan can you get with bad credit? Well, there are a ton of loans out there you can get but you might run into one thing with any loan you’re looking for and that’s what your credit score is. To buy used cars in Chicago its best to advise your credit score first.
Buying a used car in Chicago with a 500 credit score
You need to really know what your credit score is before any loan talk. But with that said a credit score under 500 isn’t going to do much for you when you are looking to buy a used car in Chicago.
Finding out where your credit score is can help you open doors with multiple lenders. There are hundreds of lenders that can help but you want to shop around for the best auto loan rates in the Chicago area.
Believe it or not, most people that are looking to buy new and used cars in the Chicago area choose to put $0 down on most used car loans in Chicago IL.
Actually, about 90% of people decide to put no money down on a car loan in Chicago. The average car loan costs are kind of high but they can be even higher if you have bad credit.
In a nutshell, you should really be looking at used cars in Chicago with good interest rates. We say that you will get a better interest rate on a used car over a new car in Chicago.
Focusing on a used car purchase in Chicago
A few things you may want to focus on with a used car purchase in Chicago are:
- Your credit score for one
- Land on a down payment that makes it easy
- Having a job
- Shop multiple car dealers in Chicago and even credit unions
We tell people with a subprime car loan it’s better to get pre-qualified for a used car loan and that’s what we aim to help you with our car loan form.
With our large dealer network in the Chicago surrounding area, we will find a down payment car dealer that works for you and makes owning a used car affordable.
Don’t just aim to purchase a new car because some used cars depending on the car lots you look at having pre-owned cars that are like new with low miles and well taken care of.