It can be tough to buy a car with less than 600 credit score. We are going to provide you with the tips needed to qualify for a car and save money at the same time. First, you should check your credit score with Equifax and TransUnion.
The reason you should compare your score with each of these agencies is that you may have a 600 with TransUnion but a 650 with Equifax.
These discrepancies do happen, but you should pay attention in case there are mistakes inside your credit report.
Why you shouldn’t apply for bad credit car loans online
You may be tempted to apply for bad credit car loans online, working on the presumption that no one will give you a loan.
The websites that are advertising these loans are not actually the lenders but just brokers that will sell your contact information to as many lenders as possible.
These services are convenient, but you could be getting yourself in hot water, mainly if the website is used to harvest your personal information for identity theft.
We are going to show you how to buy a car with less than 600 credit score in a little bit.
How to get your credit back on track
Once you have access to your credit report, look for accounts that have a high balance. If you are carrying a lot of debt, even if you pay your debts on time, your credit score will be under pressure. Therefore, you should aim to keep your credit utilization rate to 30% or lower if possible.
Another way to raise your credit score is by ensuring all of your debts are paid on time when agreed.
If you have a difficult time keeping track of your debts, you can sign up for payment reminders or just use a pre-authorized payment plan. By consistently paying your debts on time, your credit score will begin to increase dramatically.
Do you have an updated budget?
The pandemic has impacted the economy in a profound way, and you should make it a point to refine your budget to reflect these new realities. You should revise your budget whenever you have a change in income/debts or at least once a year.
Where to get a car loan with a 600-credit score
As promised, we will show you how to access a car loan with a 600-credit score. To access these loans, you will need to work with a local dealership that provides 2nd chance financing.
You should be able to find them by looking at the advertisements for the dealership.
The dealership will be able to identify which lenders are going to provide you with a car loan and can also show you a range of vehicles in their inventory that works for your budget.
Another benefit of working with the dealership is having access to their in-house credit experts. The experts will show you how to quickly rebuild your credit score and start enjoying life on your terms.
For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!
Click here to get approved for your next car loan online today! we have a team of credit specialists ready to help you easily buy a car with less than 600, and will work with you no matter your credit score.
For any questions or concerns, please don’t hesitate to contact us here!