Find Used Car Dealerships in Memphis TN

                                                                            

Car dealerships in Memphis, TN can offer customers who do not have stellar credit the option to purchase the car of his or her dreams. Many things can affect a person’s ability to secure a car loan. These situations can make it easy or difficult to buy a new car, but some people don’t have to fret about getting a new car.

So what can hurt your ability to secure a car loan? Things that can hurt your ability to secure a car loan are divorce, home loan issues, credit card debt or other credit issues. These things can definitely make it difficult for some people to get a car loan from Memphis auto or other car dealerships in Memphis, TN.

But those with bad credit can still get a car loan. Some dealerships like Memphis auto will look at individual situations when deciding whether or not to provide a customer with a car loan. Certain situations, like old credit card issues that could be more than five years old, or some home financing situations, may not affect someone’s ability to get a car loan. Some dealerships will look past these issues in today’s economy.

If a customer has one of these issues, a car dealership may approve the person for a car loan, but will then require the person to pay a higher interest rate than a customer with good credit would be required to pay. The lender sees this as a better gamble because the person is essentially paying more money back to the lender as a promise that they will pay the loan back.