subject: I Have Really Bad Credit Can I Get A Discount On The Vehicle I Am Purchasing? [print this page] If you have bad credit or no credit, you may have a negative experience after your recent visit to your local dealership. Having bad credit or no credit is not a crime, but in the business world of automotive sales, having poor credit history means you will be mistreated or completely ignored. Been able to get a car loan is the key behind every sale from the dealership, after all if you can't get approved for the loan a lot of folks will be pissed off because they worked for free for few days. Bad credit is much like a criminal record in the eyes of the car dealers because it will stay on your record and it will definitely affect your chance of an approval when it comes to financing. In my opinion if you need a vehicle for work or family you should be more concerned with the approval rather than the price of the vehicle. When you are looking for a vehicle, make sure you are picking out something that is affordable to you.
Price of the vehicle is less important if the dealership can approve your loan, after all what is the point of getting a great deal but you can't get financing? If you are seeking credit from a new car dealership, your chances of approval is minimal due to the strict requirements from the manufactures for loan approval. You can try to apply to a bad credit car loan service where they specialize in bad credit or no credit car loans. The approval maybe a lot quicker and easier but the interest rate will be higher. If your credit score is so low, you shouldn't be concerned with the vehicle price or the interest rate, simply take the loan they are offering and begin your credit rebuilding or "recovery" process right away.
With good repayment history your credit score will rise over time making it easier for you to take out a car loan in the future. Remember these types of loans are usually the "transitional" loans where you can use it towards your benefit. Once your credit score recovered enough you will be able to negotiate on the price of the vehicle as well as the interest rate on your next car loan. So be patient and wait out this period in your recovery and once you are back on top you will have a lot more negotiating power.
