If you have bad credit you want to make sure that you’re going to get credit when you need it. You need to make sure that the loans you need are available to you and you definitely need to know what your interest rate is going to be. These things are not always clear until after you’ve gone through the exhausting process of picking out your vehicle, negotiating the price and starting on paperwork. Then your credit gets run and suddenly your deal is off the table. But it doesn’t need to work that way.
The best thing you can do is get pre-financing. What that means is you go into the institution that you’re hoping to get credit from before you even know what you’re going to get for sure. You sit down with someone and talk to them about your credit and your income and they help you figure out what you can afford and what they’re willing to give you. They’ll even hand you a piece of paper before you walk out that says how much money you’ve been cleared to borrow from them. That way, you know when you walk into a dealership or on a lot just how much money you have available and you don’t need to worry about your credit for any of that anymore.
Now getting pre-financing will not only help you make sure that you’re getting a loan in the end, it will help you get the best interest rates as well. You don’t have to worry about what the dealership is going to offer you, if they offer anything, because you’ve already got a deal. So if they offer something that’s a lot higher you can refuse. On the other hand, if they offer something lower you’re free to accept it and take the better deal. It works out best for you either way that you go with it.
The key is making sure that you have the offer because if you have an offer, even if you have bad credit, the dealership or lot is more likely to work with you and help you get what you really need. They know that the money is good and it’s going to come from somewhere that will help them. In the end, they get what they want and you get what you want so everyone is going to be a winner in this situation. It’s important that you keep working towards that.
Not everyone works on getting pre-approved and that can mean trouble for you when it comes time to get financed. So make sure you’re not getting taken to the cleaners by your dealership. Instead, make sure that you get the credit that you really need right from the start and you’ll be more than ready for whatever comes your way later on. If you need a loan then you can check it out right here and get started on the loan process for yourself. There’s plenty available for anyone who needs a loan.
Sometimes it can be difficult, when you walk into that car dealership in Ontario, not to get overwhelmed by what’s out there. You find yourself drawn to the big cars. The fancy cars. The flashy cars. You get drawn in by the cool features (that you don’t really need) and all the amazing gadgets that can come with your vehicle now. And it ends up, at the end of the line, you’re spending a whole lot more than you originally planned. The best way to avoid this however, is to make sure you go in with a plan.
What Can You Afford?
Before you ever walk into that dealership think about how much you can afford to spend on a new vehicle. Do you have a lot of money or are you shopping on a budget? You want to make sure you have a number you’d like to spend and then another number that’s your absolute max. You want to tell the person helping you the low number because chances are they’ll try to push you a little and flex your budget. You definitely don’t want to tell them a high number and then they push the budget.
- Don’t get talked out of your budget.
- Don’t get distracted by vehicles ‘out of your league.
When you walk into the dealership let the salesperson you’re working with know that you’re on a strict budget. Before they walk you up to any vehicle ask how much it costs and if it’s over the budget just tell them you’re not interested. If you do this a few times they’ll realize you’re really strict on your budget and they’ll be better about showing you what you can really afford. Of course, if you’re not sure what you can afford and need some more advice about loans you can check that out right here.
Find the right good credit bad credit no credit car dealerships in Ontario. There are a lot of options in this industry, you just have to make sure you are making the right choice.
Be Polite But Firm
If you’re interested in something in particular make sure you talk with your salesperson about it. Let them know what you absolutely do want and what you absolutely don’t want. After all, you’re the one that’s going to be paying for the vehicle, so you should get what you want rather than what someone else wants to sell you. If you give them information about what you want make sure they stick to that information. If they’re starting to veer off just remind them politely what you’re really looking for. Maybe they misunderstood or they have a different idea of what might work. It’s perfectly fine to listen to their ideas but if you don’t like them remember it’s your vehicle.
Dealing with someone at a dealership doesn’t need to be an ordeal. They really do want to help you get a good car and a car you like because no matter what they really think about the vehicle you purchase, if you’re happy you’re going to tell other people about it and they’re going to get more business. So just make sure you let them know what you want, and make sure they show it to you.