Do you feel like your options for buying a car online are limited if you have bad credit? Not necessarily. we look at how you can still buy a car online with bad credit.
How can I buy a car online with bad credit?
People may think they cannot buy a car online if they have bad credit, but it is possible, if you have a good credit score it is true that many more options and better rates will be available to you, but options are still out there for those with poor credit.
What about if you have really bad credit?
You may still be able to buy a car online with bad credit, even if it is really bad, it will just mean your options may be even more limited, but there are loans out there specifically catered for people with really bad credit scores.
What types of car loans are available?
Car finance usually covers three different types of finance, Personal contract purchase (PCP) Hire purchase (HP) and personal loans.
Who do I speak to arrange car finance?
If you want to buy a car online with bad credit, you can speak to a salesperson online on a chat or over the phone if you would prefer. They will be well equipped to answer any questions you may have.
What is the recommended credit score to buy a car?
The recommended score is 660 and above but do not worry if yours is lower as 660 above usually guarantees a certain interest rate for example under 6%, so even if your credit score is below the recommended you may still be able to get car finance.
What is a FICO score?
A fico score is something a dealership may use to qualify and evaluate an individual’s credit worth. It is the same as a credit score but just uses a different numerical scale. In both cases the higher your credit score, indicates a lower credit risk.