Does your credit history have a chequered past? Do you find it hard to get credit for anything these days? If so, you’re not alone. Thousands of Americans have trouble obtaining credit in 2014.

And it seems that even those with otherwise perfect credit scores have trouble getting credit. Ever since the global economic crisis of the last decade, lenders have become picky about who they lend to nowadays.

What happens if you want to buy a car, but you get declined for mainstream finance? You might be thinking that it’s time to give up on the idea of buying a car. But the news isn’t all bad, because it’s still possible to get credit!

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In this useful guide, you will learn how anyone – even you – can get credit to buy a car! Here is what you need to know:

Check your credit file

Before you do anything, you need to get a copy of your credit file. The reason for that is simple; it might have mistakes in it from past creditors!

Another reason you should consider getting a copy of your credit file is to check if you’ve been the victim of identity theft. It’s a problem that affects millions of Americans each year. Sometimes, you won’t know it’s happened until you get bills in the mail from cell phone companies or credit card firms!

 

If you do see any problems with your credit file, you can work with the creditors to get them addressed. You never know; it might be those problems that are preventing you from getting mainstream car finance.

Start saving up some cash

Car finance companies want to find out if you can afford to pay for a car you buy or lease with their money.

One way of “proving” that is to put down a big down-payment on your next car. It will show them that you have spare disposable cash, and it also means that your monthly payments are low.

If your long-term goal is to buy a mid-range or premium car, you will have to save up a lot. But here are some tricks to reaching that goal quicker:

* Get a better-paying job;

* Sell unused items around your home on Craigslist or eBay;

* Do some online work from home in your spare time.

Get pre-approved for finance

A lot of folks think that you have to get car finance from car dealers. Let’s say that you want to buy a car from McDougal & Breen. It’s true that they, like most car dealers, offer financing facilities.

But did you know that you can arrange car finance yourself? There are plenty of firms that will pre-approve you for finance. You just tell them what your budget is and how much you want to repay each month.

Once you both work out an agreeable finance plan, all you have to do is go out and choose the car that best fits your needs. The finance company will then arrange for the money to get paid to the dealer, and you can drive home in your new car. It’s as simple as that!

I hope you have enjoyed reading today’s article!

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Emily Muelford

Emily is a British writer whose love of car culture is augmented by a fascination with both the European and American automotive markets. Her perspective is uniquely fish and chips.

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