by Did you know that only 20% of all American consumers have a good credit score? And more than 22% do not have any FICO score at all. Just in July 2020, almost 660,000 Americans filed for bankruptcy and the percentage of subprime score holders has been increasing every year. So, if you have just started your career or adult life with no or bad credit score, know that you are not alone. More and more Americans are adding more debt to their personal finances as income has hardly increased in the past decade while expenses have gone on compounding at the rate of 2%.
Now, a bad credit score can literally bring your life to a halt. Auto financing becomes impossible as most conventional financial institutions deny you further loans until you can present a good credit score. But a buy here pay here no credit check dealership can paint a very different picture. It can enable you to buy a used car, despite your bad credit score, and help you to start your life.
The perils of bad credit scores
As per Experian data, 37% of the present workforce start their careers with a bad credit score. And the best way for these consumers to improve their credit scores is to make timely payments of their existing debt. Obviously, timely payments are going to take time. Students loan spans run for 21 years on average while house mortgages are spread over 30 years. Even if you do not have to wait that long to improve your credit score enough to buy a car, but you will need to pay consistently for 5 years on average.
That is indeed a long time to wait for your first car. Think of the number of opportunities you will be missing in that span. A better job with higher income if you could commute regularly to a different location. Save travel time daily and instead use it to improve your work productivity and, in turn, your work-life balance. You may even need a car to support your family or just shift to a better apartment. A buy here pay here no credit check dealership holds the key to these benefits. You do not have to wait for your credit score to improve to buy a used car. You can get one now.
How can buy here pay here dealerships help?
No credit check car dealers are exactly what they sound like. Dealers like Family Auto do check a credit score but they are not worried about your credit score while approving your auto loan request. You may have a bad credit score or a no credit score but your auto loan will stand approved at Family Auto buy here pay here dealership. You can buy any used car you want, take advantage of our flexible financing offers, and gift yourself a quality commute, that too with an assured 2 years/36,000 miles warranty. Even past bankruptcies or high alimony payments do not matter to us. As long as your pay check can cover the monthly payments, you are eligible to buy a used car at Family Auto.
So, search for car dealerships for bad credit financing and start your life now. Do not pass over the better job opportunity or better living situation just because the bank will not approve your auto loan. You can continue to work on your credit score by making timely payments but do it with a personal car. After all, statistics also say that people with homes and cars live better lives than those without such properties.