If your credit score is low, this doesn’t mean you can’t buy a car; you just have to find the right one. For many reasons, looking for used cars near me makes the most sense. Cook Mazda is a great place to start.
You’re More Likely to Be Approved for a Loan
Before lending money, banks and other financial institutions evaluate buyers and lessees in terms of risk. Because they see people with lower credit scores as higher risks, they are often reluctant to give them a loan. However, since a less expensive car means a smaller loan, there’s a better chance that you will be approved.
A Used Car Can Help You Build Your Credit
Used car financing has another significant benefit: if you keep your car payments on time, your loan can improve your credit score. A higher credit score can let you leverage a refinanced rate later or improve your chances of financing or leasing a new car when the time comes.
You May Not Need a Loan at All
Another potential solution to your dilemma is simply to sidestep the loan process altogether. If you have a car to trade in and a fair amount of cash on hand, you may be able to purchase a lower-cost vehicle outright.
Find the Right Used Car at Cook MAZDA
No matter what your credit score looks like right now, Cook Mazda in Aberdeen can help you get a loan and a car that best fits your budget. We work with several lenders, so you have more options than you may realize. You can start the financing process now by filling out our online application to get pre-approved for a loan.
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