Its no secret fixing your credit will help your chances of buying a new or used car in Grand Rapids.
Your credit is important when purchasing a new car or even a used car. Some car dealerships will look heavily into your credit score while some may just say okay and go talk to their special finance department.
Good credit for auto loan rates in Grand Rapids Michigan
In the past few years to get a good rate on a car in general you wanted to look at having a 600 credit score or better. If you have fallen into the 500’s you want to work on that credit overall because the rates aren’t going to be too friendly.
Now you could look at paying cash for a car but that’s not going to help your credit, but there are other alternatives for bad credit car loans in Grand Rapids Michigan and they are buy here pay here car dealerships in Grand Rapids.
They work mostly on financing the new and used cars themselves and don’t normally look at credit scores all the time. But they do want a large down payment for a used car.
It’s recommended that you at least have $500 down for a buy here pay here car dealer in Grand Rapids Michigan. Some times they may ask for more closer to $1000.
If you hit right they may even have no money down car deals in Grand Rapids but don’t hold your breathe on that plus that just means your monthly payment is going to be high.
We always tell people that the bigger the down payment is the better for you. It helps lower the interest rate.
Choosing buy here pay here auto loan rates in Grand Rapids Michigan
If you choose to go with a buy here pay here car dealer in Grand Rapids you should ask or find out if they report payments to the credit bureaus so that at least is helping improve your credit score for the future.
For years we have been able to connect a number of car buyers in Grand Rapids MI with car dealerships for new and used cars that fit their overall needs both financial and used car functional.
Knowing your solutions for purchasing a used car or new car with bad credit can be stressful for many but we work with you so it doesn’t have to be.