When you’re in the market to find used cars, the ins and outs of financing matter, especially when you have some credit challenges. Whether you’re browsing through car sales of used cars or searching for used car lots near you, it’s important to know how bad credit and no credit loans can impact your purchasing power: and how they can benefit you.
Key Considerations When Financing with Bad Credit
Knowledge Is Power
Arm yourself with knowledge. Learn about some of the essential factors in a loan decision, like NADA values, prevailing interest rates, your debt-to-income ratio, and the terms of potential loans.
At Matthews Motors of Goldsboro, we specialize in helping people get back on their feet with bad credit or no credit loans, and our finance team can help you fully understand everything about your loan.
Know Your Vehicle’s Worth
Use platforms like NADA.com to ascertain the worth of the car you’re eyeing. By ensuring you’re not paying above the vehicle’s value, you protect yourself from negative equity, which essentially means you own more on a vehicle than it’s worth.
Access Bad Credit Financing
Sub-prime auto loans can be a lifeline for those who need to rebuild their credit. Don’t get snagged by exorbitant rates or unmanageable terms, though. Our finance team at Matthews Motors can help you understand all your options and find a loan with terms that fit your budget.
Rebuild Your Credit
Once you find used cars you’re interested in and then get your loan, just keep making the payments and watch your credit score go up.
Bankruptcy and Car Financing
Many believe that bankruptcy closes the door to potential financing options, especially when it comes to big purchases like cars. But here’s a reassuring fact: buying a car during a Chapter 7 or Chapter 13 bankruptcy case can be one of the swiftest ways to enhance your credit score.
Benefits of Buying a Car in Bankruptcy
- Immediate boost to your credit score
- Fast way to establish a positive credit history
- No more negative equity on your current vehicle
Why Matthews Motors Goldsboro Is Your Go-To
Experience and Dedication
For over a decade, Matthews Motors of Goldsboro has been helping people secure cars and pave the way to a more stable financial future. We’re known regionally as the “Walking Man’s Friend” because we pride ourselves on a commitment to great deals on cars for people in any financial situation.
Expertise in Bankruptcy Financing
Our alliance with banks specializing in bankruptcy financing, coupled with our collaboration with bankruptcy attorneys across various states, ensures we’re always aware of the latest in bankruptcy laws. If you’re looking for a car dealership in Goldsboro, we have the inventory and expertise to get you what you need.
Reach out to us at Matthews Motors online or at 919-234-7775 today and see how we can help.
