Bad credit auto loans at 14 Washington dealerships
Late payments, collections, a charge-off or a thin file. Tell us what happened in plain words, pick a dealership, and its finance team takes it from there. Lenders decide.
Wherever your credit stands, start here
No judgment
Late payments, collections, a layoff or a medical bill that got away from you. Our finance teams see credit like yours all the time. Tell them what happened in plain words.
Turned down before?
A lender that turns down your application has to give you the reasons or tell you how to ask for them (Regulation B). That letter shows what to work on.
Your score is one line
Lenders also weigh your income and debts, how much you borrow, what you put down and the vehicle you pick (CFPB). Several of those are still yours to change.
Not buy here pay here
Our dealerships arrange financing through outside lenders, and our used vehicles get a 137-point inspection, a 3-month / 3,000-mile limited warranty, a free CARFAX report and a 3-day / 300-mile exchange.
What a lender looks at besides your score
What lenders weigh
From the CFPB's list of factors lenders generally use to set a rate and terms:
- Your credit scores and credit history
- Your income and the debts you already pay
- The loan amount and the length of the loan
- Your down payment measured against what the vehicle is worth
- The type of vehicle, and whether it's new or used
Income that can count
Under Regulation B, part-time pay, a pension and other retirement benefits can't be discounted for what they are, and public assistance can't be held against you. A lender may still weigh how much it is and whether it will keep coming.
- Wages, including part-time work
- Self-employment income, shown on your tax returns
- Social Security, disability and other benefits
- Pension or retirement income
- Child support or alimony, only if you want it counted
Read your own credit reports first
Each of the three nationwide credit bureaus lets you check your report for free once a week at AnnualCreditReport.com, the official site for free reports.
A credit score isn't part of those free reports (CFPB), and a score you buy may not be the one a lender uses. Read the reports for what they say about each account.
Old trouble doesn't last forever on a report: the CFPB puts the limit at seven years for most negative items and up to ten for a bankruptcy. Be wary of companies that charge to remove items from your report; real errors can be corrected at no cost.
Before you sign anything
Washington gives you no cooling-off period on a car purchase: the Attorney General's office notes there's no three-day cancellation right once you sign. Read every page first, and ask about anything you don't understand.
Some deals are written subject to financing. Then the dealer has four days, not counting Saturdays, Sundays and legal holidays, to accept the contract as written or call it off (RCW 46.70.180). If it's called off, the dealer must offer back what you put down and your trade-in, and the vehicle goes back to the dealer.
You can also get a quote from your own bank or credit union and compare it with what the dealership arranges.
Get your Fresh Start plan
Tell us what's going on with your credit and pick your dealership. Its finance team will tell you what lenders are likely to ask for.
- Pick your town, then the dealership
- No Social Security number asked
- The dealership's finance team follows up with you
This isn't a credit application. When you apply, lenders check your credit and each lender decides. Approval is never guaranteed.
Questions people ask
How do you get a car loan with bad credit?
Start with a credit application, either through a dealership's finance team or directly with a bank or credit union, and have proof of income and residence ready. At our dealerships one application can reach more than one outside lender, and each lender decides. Reading your free credit reports first shows you what those lenders will see.
What if I have no credit history yet?
You can apply. With no file to go on, a lender relies more on what you can prove, like your income and how long you've lived where you do. A co-applicant can join the application; the FTC points out that a co-signer shares full responsibility for the contract.
I was turned down somewhere else. Should I still apply?
One lender's no is one lender's decision. A lender that turns down an application has to give you the reasons or tell you how to ask for them, and that notice shows what to work on. Bring it with you.
Can I apply without a Social Security number?
Our Auburn, Moses Lake and Yakima stores take applications with an Individual Taxpayer Identification Number (ITIN) in place of a Social Security number. The lender decides whether to approve.
Is a buy here pay here lot my only option?
No. Our dealerships aren't buy here pay here lots: they arrange financing through outside lenders. The CFPB says buy here pay here rates tend to be higher.
Sources
Wherever your credit stands
Answer a few questions, pick your dealership, and its finance team takes it from there.