There are times when you may need a new car, but you just do not have a good enough credit score. You may be wondering how you will get the car you need. One way is to use car dealerships that work with people who have bad credit. The important thing to remember before you visit one of these car dealers is you need the right documents and a steady income. A steady income is something you likely already have. Here are the documents you need and what to know about each one.
Proof of Income
You can have a steady income, but you also need proof of that income. This means bringing in a bank statement that shows your direct deposits from your place of business. If you are a contract worker, this can be a bit difficult. If you do not have a bank with direct deposit, you may also have some issues. These issues are fairly easy to solve. If you do not have the bank direct deposit proof, consider obtaining a proof of employment letter or an income verification letter from payroll. If you are paid through a third-party service, make sure to get a printout of your deposits that will show your income.
Many of the car dealers that handle bad credit car sales and bad credit car dealerships will be able to work with you. However, you will need to sign paperwork and agree to some form of automatic withdrawal payment. This means you will need an account that allows this feature. You can get a bank account or debit card attached to a bank account from many resources. You will need to give your routing number and account number to the dealer for the funds to be withdrawn on your designated payment day
Finally, you will need a valid license for your state. This is something fairly easy to produce. You likely will already have it in your wallet and with you during the visit to the dealer. Make sure the license is valid as well as up to date.
When you have all of your documents ready, and you have a down payment amount you are willing to pay, visit a bad credit car dealership in your area. They will show you what is available in your budget and price range. They will also discuss how they can work with you in order to get you the car you need, even with your bad credit score.