There are many ways to reestablish your credit score so that you can buy a car with the bad credit that you have. There are 3 credit bureaus in the US, Equifax, Experian, and Transunion.
A perfect credit score in Dallas for a car is 850 the American average is 661, and the lost possible score is 300. Some credit score components are payment history, outstanding debt, frequency of applied credit applications, and types of credit you own.
There are many factors that contribute to your low credit score and they are: missed bill payments, high debt to income ratio, and excessive credit card applications.
There will be affordable payments and a common interest of the seller in the buyers success and the continued ability to make payments on time.
There is a chance to increase your credit score, which affords you:
- Lower interest rates on credit cards and mortgages
- Increases you credit with a wider selection of lenders
- Easier loan application approvals
- reduced insurance premiums
So you might be able to get that $99 car loan and monthly payment in Dallas like everyone else.