Before you get an auto loan from independent dealer, you should know that getting a loan where the dealership is the loan supplier usually means a higher interest rate. Since they do not go through another company to finance you, they are able to charge you the maximum interest on the vehicle you purchase. If you have bad credit, and don’t want to have your credit pulled, then auto loan independent dealer may be your only option.
Lenders don’t want to lend money to people blindly. When you apply for auto financing they pull your credit report to see if you have a good credit history and how well you paid on past accounts. This signifies to the finance company whether you would be a good candidate for bad credit auto financing. If all of them turn you down and you do not have a strong cosigner, then your only option would be to get an auto loan from independent dealer.
Doing this type of financing may not help rebuild your credit, but it will get you into a vehicle so that you have transportation to and from work. For people with credit problems, that is the most important thing seeing as the more they are able to work, the more money they will have to pay their bills.
Doing some research on the dealership you plan on getting your vehicle though is very important since you will be dealing with them for the entirety of your auto loan independent dealer. Knowing that they have been around awhile and reading any reviews about the dealership will ensure that they have quality vehicles and you are in good hands.