The first thing when buying a new car usually involves financing paperwork. Whether it’s through your financial institution or that of the dealership, running a credit check is the first thing that happens before a loan can be secured. In most cases, this goes smoothly. But if you’re like the millions of Americans with less than pristine credit, all you’ll have to show for the time is a rejection from the financial institution and a hard inquiry that lowers your credit score even further. This process can leave you disheartened and make getting a car loan even harder to get. But you need a vehicle. Where you go from here are independent finance companies.
What Specialty Finance Companies Can Do for You
Independent specialty finance companies provide indirect auto financing specifically to people with low incomes, or limited and poor credit. By purchasing retail installment sales contracts from franchised auto dealers, they can fund the contract for you and deliver the title once it has been paid off. Using your information, companies such as Consumer Portfolio Services run on a custom payment plan designed to be easier on your budget and not held back by a poor credit score. Delivering service in 48 US states means that they can finance almost everyone, regardless of where they live.
Make Car Buying Easier and Worry-Free
Spelling out the details of the contract up front means you know exactly how much you’re paying per month and how long it’ll take to pay off. All taxes, fees, and interest are included in the final price and your custom finance plan means that the payments can be sustainable for you over the long term. With servicing through the entire life of the contract, the same people will be there for you when you have questions, concerns or need to work out something such as a payment arrangement. Twenty years of experience means that they’ve seen many situations and are always happy to help you.
A vehicle and the security it gives to you and your family is important. Contact an independent financial company to see your options for a car that’s no longer out of your reach.