If you live in Los Angeles and need a car loan but worry that bad credit is standing in your way, then you’ve come to the right place! At Auto Credit Express, we know what it’s like to have bad credit get between you and your auto financing dreams. We’re here to let you know that credit issues don’t have to hold you back.
Types of Bad Credit
Car loans differ depending on many things, most importantly, your credit. When you have good credit, lenders in LA can see how responsible you’ve been with credit in the past, so they’re not as concerned about a lot of requirements and qualifications in order for you to get an auto loan.
With bad credit, on the other hand, lenders can see that there have been some hiccups in your past. The right kind of lenders, however, know that there are a lot of things that can contribute to a lower credit score, and they take this into consideration.
There are two types of bad credit that people can have: situational bad credit and habitual bad credit. Situational bad credit comes from an unforeseen event which causes your credit score to drop, such as unexpected medical bills or a job loss. This is noticeably different from habitual bad credit because your credit was good up until a certain point.
Habitual bad credit is when a pattern is evident from a history of late payments, missed payments, and collection accounts on your credit reports – or a previous repossession or bankruptcy. These are all things that contribute to a low credit score.
Repairing Your Credit with an Auto Loan
Fortunately, credit isn’t a static thing, and no matter how low it dips, it can always recover with a bit of care. One way that’s particularly effective in improving your credit score is a car loan.
Auto loans give you the opportunity to begin making on-time payments on a new line of installment credit. As long as you focus on repairing other areas of your credit as well, you should begin to see your credit score improve over time.
But, wait, what does this have to do with getting a car loan in Los Angeles? Plenty.
Getting a Car Loan in Los Angeles
In order to use an auto loan to help repair your credit, you need to be able to get a loan in the first place. That’s where we come in. At Auto Credit Express, we’ve been connecting people with bad credit to local special finance dealerships for over 20 years, and we want to help you, too.
We do this by matching you to a dealer in your area that works with subprime lenders that assist people who have bad credit. Not all dealerships are signed up with these kinds of lenders, and not all lenders work with bad credit borrowers.
Subprime lenders can help where others can’t because they look beyond your credit score to get you approved, to factors such as income, employment, and residence stability. All you have to do is meet the lender’s requirements and you can get the loan you need – even with bad credit!
To get the process of getting a bad credit car loan in LA started today, simply fill out our easy and free auto loan request form, and we’ll get right to work for you!