Slow Credit Car Loans in Silverdale

Slow Credit Car Loans in Silverdale

Your credit is considered "slow credit" when you’ve shown a pattern of constantly paying your bills late. While the adage "better late than never" may be true, it still drops your credit score, and puts you on shaky ground with lenders—and if you delay too much in paying off a loan, you could go into default, or get your assets repossessed. Slow credit needs to be fixed, but if you need a car while your credit report still looks bad, you could have some trouble. Slow Credit Car Loans in Silverdale let you get a good-quality used car, while also giving you a chance to redeem yourself in the eyes of creditors.

Slow Credit Car Loans Application

When you apply for a loan with slow credit, you need to take a few steps to make yourself ready. First of all, have your down payment ready—between 10 and 20 percent of the car’s total value. Get ready for it to be a little higher than usual, since Slow Credit Car Loans in Silverdale may have higher rates than good credit loans. To improve your chances further, you can also have a co-signer with you, in order to insure that the lender has somewhere to turn to in case you can’t make payments on your loan. Applying with a co-signer can also get you slightly better rates.

Other factors that will boost your chances of receiving Slow Credit Car Loans in Silverdale include having money in your bank account, or a steady income from a job.

Post Slow Credit Car Loans in Silverdale

You were approved for a slow credit car loan—congratulations. Make sure that you have the budget to pay not only your loan, but to factor in gas, insurance, and emergency repairs for your automobile. This means keeping a close eye on your finances. Always make sure to pay your bills on time, as well: tardy payments hurt your credit in the first place, so making sure that you have reminders or some other tool in place so that you always pay should be critical.

Within a while, you should be able to see a steady increase in your credit. As long as you keep up with this pattern, your Slow Credit Car Loans in Silverdale can help get you back on the right financial track.

Apply for credit with Best Chance Auto Loan, a Kirkland dealer that also serves the Silverdale area. Call us to find out more.