If your credit is wrecked and you need a car in Chicago a used car is not a bad way to go. Used cars with bad credit in Chicago usually have a lower price tag than the new cars with bad credit do. Plus the car dealer isn’t going to try and kill you with the high interest rate on the loan.
Best thing to do with bad credit and buying a used car in Chicago IL
The best thing you can do when you have bad credit and want to purchase a car is to shop around and see what car dealers are going to have the best used cars for your budget.
We know that car buying comes down to 2 things and those are your credit score and how much you’re looking to spend on the used car.
If you have good credit you more than likely will see the loan rate at 2-4% but if you have bad credit or what car dealers call subprime credit you could see the auto loan rate at 11-13% and higher.
See you would be considered high risk for a car dealership in Chicago even with a used car.
That’s why it’s important to pay of your debt and other credit cards and apply once you have a solid budget in place and a down payment for the used car.
Not saying that used car dealers won’t try to pull string for you but you want to make sure the used car dealer has your best interest in mind.
Bad credit auto loans for used car in Chicago Illinois
One thing you could do with bad credit auto loans in Chicago is take the total price of the car down that allow you to put down less and save money in the long run.
You can get started on your auto loan now and be in the car dealership in the morning. At Southchicagoautoloans.com that’s what we aim to do for bad credit car buyers. Applying takes 3 minutes or less.