Bad Credit Financing at Burlington Volkswagen
If your current vehicle is no longer reliable and you’re looking to replace it but don’t have the best credit history, don’t give up. Let Burlington Volkswagen put you behind the wheel of a dependable car regardless of your financial past. We can help you get a fresh start with a vehicle you can rely on.
What are Bad Credit Loans?
When you’ve had credit issues in the past, you may worry that you won’t quality for an auto loan. Fortunately, some lenders offer what is known as bad credit loans to help those buyers get into a vehicle. Bad credit loans are simply subprime loans, which means they come with a higher interest rate to offset the added risk the lender takes.
Bad credit loans allow people who have had credit problems in the past to qualify for financing and give them the opportunity to rebuild their credit. They have lost their job, gone through a divorce, or had major medical issues. They may have missed payments, had their car repossessed, or even filed for bankruptcy.
Lenders of bad credit loans are willing to look past these situations if enough other positive information is available. They look at your employment history and current job as well as other factors.
How a Bad Credit Loan Can Help You
When you qualify for a bad credit loan, you are able to afford a vehicle that will get you where you need to go. These lenders say yes when others say no.
Another benefit is that these bad credit loans allow you to afford a vehicle with payments that fit your budget. The terms are flexible with competitive rates to make it affordable for many different budgets. When you make payments on time, it will help improve your credit rating. You may even be able to get refinanced at a lower interest rate after making payments on time for several months. Once you’ve paid off your bad credit auto loan, you can qualify for a new car.
How to Get a Bad Credit Loan
With Burlington Volkswagen, it’s easy to qualify for a car loan even with bad credit. We understand that bad things happen, and we’ll work with you to get approved for a loan regardless of your past. You can qualify for a loan even if you’ve been through any of the following situations.
- Late payments
- Collections and charge-offs
- Serious delinquencies
You can even get started by filling out an online application from our website. You can also call Burlington Volkswagen if you have question or stop by. Our finance department will review your application and let you know how much you have been approved to receive. The team will go over the terms with you.
Your next step is to pick out your next vehicle from our vast selection of used models here at Burlington Volkswagen. Many times, you can get approved and drive away in your new ride the very same day.
Stop by Burlington Volkswagen today and find out how we can help you get into a vehicle with bad credit financing.