If you are with poor credit, 99 per cent of the people who you ask will advise you not to buy a new car because it is not the right moment. But fortunately, we are in the group of the 1 per cent and will advise you to do just the opposite because being with poor credit is not a serious obstacle which can make your dream (having a new car) remains unfulfilled.
However, we are going to be extremely objective and will tell you that there are really better periods in which you can buy a new car. But if you are I-want-it-and-I-want-it-now kind of person then we are going to give you some very useful tips or even tricks which you definitely need to use otherwise buying a new car could be impossible. All you need to do is reading the article to its end, you can be sure that you may feel anything else in the end but the disappointment will not be one of your feelings! And there is a simple reason- you will just have gotten a lot of information and will feel much more competent.
The first thing you need to know is that you are probably with poor credit because your credit rating’s status is not very good. What do I mean by saying good or bad status? Well, basically it is the amount of points which you have- for example, the status of your credit rating is good when you have more than 700 points, it is neither good nor bad when you have between 660 and 700, and it is bad if your “score” is below 660 points. Fortunately, the status of your credit rating is not a constant and it can be changed very easily, especially when you know which criteria are taken into consideration. I am going to give you a very simple example: when you know that your properties and salary are the ones which determine how many points you will have, then you will do everything you can in order to have more incomes and invest in properties as well. It is so simple, isn’t it?
There is another very smart trick which you may decide to use. If your parents have some money squirreled away or if you have some faithful friends then you can borrow a large amount of money and put it in a bank deposit. This way the bank will consider that the money is yours and your credit rating will be much higher than if you did not use that trick. Of course, you know that it is quite difficult to find somebody which will trust you so much that he/she gives you so much money! And perhaps it is the only obstacle which you will have to face.
Well, that was everything which you needed to know about the car financing. Hopefully, all you read was needful and interesting but the most important thing which you do not have to forget is that you can get car financing even if you are with poor credit!