When you have been refused a car loan because of the mistakes of your past, it can leave you wondering how you can get approved for auto financing with slow credit. Dealerships just don't tell the whole story when it comes to car loans.
Part of the story that they won't tell you is that there are options available for just about everyone when it comes to getting approved for auto financing. Some of the best options for people that have slow credit are available on the Internet.
A common scenario that a lot of people that have slow credit find themselves in, is picking out the car before they have found out if they will qualify for a car loan. This adds insult to injury.
The following tips will arm you with information you can use to get a better deal.
Ask the dealer if there is a three month or 12 month warranty that is included with the vehicle. Sometimes dealerships can include these at no additional charge, although they are actually paid for by the dealer and subtracted from his profit.
When you negotiate the price, be passive about it. Don't act desperate to get approved as the dealer will know at that point that the cards are in his favor. The less interested you act about getting the car, the lower the price will drop to entice you. It's simple, but it really works.
Keep in mind that dealerships are not the ultimate authority when it comes to car loans. Lenders are. In fact, by working with lending sources directly, you stand a much better chance of getting approved, and with terms that are much more advantageous to your financial situation.
