The process of buying a car while having bad credit or no credit can feel like an uphill battle, but when you partner with the right people, it doesn’t need to be stressful or confusing. At Source Save Money we’ve helped hundreds of Seattle drivers secure auto loans, even while facing tough financial challenges.
And, we can do the same for you.
Ever wonder what you need to secure an auto loan and make your car ownership dreams a reality? Here are a few things to consider:
1. Income: If you are employed and have been at your job for more than three months and earn at least $1,800 monthly, you’ll have a better chance of being approved for an auto loan. Other forms of income are acceptable too, such as pension, disability and child tax benefits.
2. Driver's license: Since you are buying a car, you’ll need a valid driver’s license.
3. Bank Account: Auto loan payments will be withdrawn via your bank account each month, so you’ll need to be able to provide a void check or complete a pre-authorized payment form.
4. Down Payment or Trade-in: Although a down payment or trade-in isn’t always necessary, it can work in your favor when securing an auto loan by lowering the amount of money that you need to borrow.
Are you ready to apply for your car loan? Our online application only takes a few minutes to complete and a Finance Specialist will be in touch with you within 24 hours to get the ball rolling. For more information, contact us or apply now.