Purchasing a vehicle when you are fresh out of a bankruptcy is a challenge for most. The only thing I try to tell many applicants is to be sure regardless if you go with a co-signer or not, to try to make sure you do not get taken advantage of. Yes, there are many sharks out there and when you have a few dollars in your pocket everyone is looking to reach deep into your pocket and leave it empty with lent.
We are not wanting you to just jump into any car because you are desperate to get to and from work. Allow the public transportation system to help for 5 more days if needed. Not that it will take this long to get into a car however you want to leave at least a 5 day window open just in case you need to get the paperwork complete with us. We typically get you approved for a vehicle within a few minutes but if your income or your housing situation is kind of limited you want to be sure you have all your letters and documents in place to explain any gaps in employment over the past 2 years.
Ask yourself these questions:
1. Do you have proof of employment like a pay stub or some thing showing the date you started working?
2. Do you have a w-2 tax document for the past 2 years.
3. Do you have a bank statement or some proof that you live at your place of residency.
4. Can you show that you have references just in case they need to follow up with people you know.
With be able to show these items the buy here pay here dealers that offer in-house financing can get you into a vehicle with 1000 dollars. I haven’t seen any cases where people was not able to get a loan, only people who wanted to shoot for the stars without considering the moon. Yes, nice car but wrong color.
When looking for a buy here pay here loan you better be ready and have all these items ready. Looking professional is important due to the fact that they have nothing else to go back on due to not being able to rely on your credit history.
No credit history or bad credit may haunt you when going with a traditional dealership and this is why we know and expect that our services will always be above par and allow you to get exactly what you need when you are in the car market.