Hand Shake

Unless you live in a busy metropolis with various forms of reliable public transportation, or you like taking taxis and ride shares everywhere, you need a car. But for many people, getting a car can be a challenging proposition. Few people have the means to pay cash upfront for the entire vehicle purchase, and traditional auto loans have tough financial and credit formulas to meet.

Banks and credit unions have strict credit requirements. Financing a car purchase and coming up with big loan down payments can be difficult for many people. Buying from a low down payment (LDP) car dealership can be the best option if you have bad credit or few resources.

What is a Low Down Payment Car Dealership?
A low down payment car dealership, unlike traditional car dealerships, provides financing for the cars they offer. They don’t use the strict credit requirements of traditional auto financing by banks and other financial institutions. They look at other purchasing and payment criteria so they can accept low down payments from customers.

They handle financing in-house rather than work with outside lenders like banks. That way, with other forms of ensuring the ability to pay, an LDP car dealership can help customers who otherwise might not be able to buy a car.

If you have poor credit or limited credit history, there are a lot of benefits to buying from an LDP dealership. You may not drive off with the newest model vehicle, but you will have your choice of good deals on financing that you can afford and can obtain quickly. When you deal directly with the car dealer, the financing decision process is quicker, and that means you have your vehicle more quickly and you start building your credit more quickly too.

How Financing Works
When you finance with LDP car dealerships, your financing options are more tailored to your financial situation than with banks or credit unions. You’ll provide proof of identification and income, residence, and references. The LDP dealership can be flexible on down payment and timing of payments. You get credit terms tailored to your financial situation and will deal directly with the dealership for financing, not third parties or traditional financial institutions.

Since the coronavirus pandemic hit in early 2020, many people have faced financial and other hardships. When throws you curveballs that hit you in the pocketbook and affect your credit and financial well-being, it’s good to know that there are options to get the things you need, like a reliable vehicle. LDP car dealerships can be a lifeline when you need transportation for work but are in a tight spot with funds.

When you need a used car but have a spotty or poor credit history in Arizona, consider an LDP car dealership like Auto Action. With basic information other than your credit score, you can quickly get a fair loan for the car you need today!