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Buying a car with bad credit. What you need to know to not get scammed.

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Buying a car with bad credit. What you need to know to not get scammed. – Most Popular?

Over 50% of Americans have a 700 or better credit score. However, the people who get scammed the most are the ones with under a 630 credit score. In this video, I give you some tips and tricks on how to buy a car with not so perfect credit.

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Read this very carefully.

TIPS TO GET YOU APPROVED FAST AND HASSLE FREE when you have challenged credit.

Money down or trade equity is key. The more you have the better terms and conditions you’ll get. (% rate, term of the loan, actual car the bank will approve, lower payment, etc) 10% is a good number, 20% is a better number.

Bring with you your Most recent pay stub of 2017 showing income and taxes, your last pay stub of 2016 showing income/taxes, and your 2016 W2,

2 utility bills showing proof of where you live,

6 names, addresses, phone numbers of different household family members or friends,

proof of full coverage insurance.

1099/self-employed employees your need the last 3 months of bank statements and possible 2 years of tax returns,

If your income is a government source (social security, court-ordered child support, etc.) you will need 3 months of bank statements showing direct deposited, and an award letter from the agency of income.

When you show up to the dealership with all the above-referenced info the transaction will go SMOOTH and in a TIMELY manner.

Remember, Buying a Car Doesn’t Have to Suck™

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30 Comments

  1. American Cleaning Solutions
    July 17, 2021 at 6:39 am

    Chevy dude do you have a contact number . I’m in the market for a work truck

  2. Benjamin Wagner
    July 17, 2021 at 6:39 am

    I went to one of those third party dealerships and got screwed. Won't happen again

  3. pam gevelinger
    July 17, 2021 at 6:39 am

    All these does and donts are overwhelming. To remember them all..ugh! Getting a car should be a happy moment not one you leave the car dealership crying like I did.

  4. Daniel Kays
    July 17, 2021 at 6:39 am

    Where are you located

  5. Dewayne Bennett
    July 17, 2021 at 6:39 am

    I’m looking for a car 🚙

  6. Michael Morales
    July 17, 2021 at 6:39 am

    I like his advice.. I feel like I’m walking out with clear answers and a lot of information for the amount of time I spent watching this video. Great job

  7. Indiana the 3rd
    July 17, 2021 at 6:39 am

    I literally have 580 as a credit score and interested in going to the car dealership on the next 6 months

  8. jvolstad
    July 17, 2021 at 6:39 am

    A shady dealership? Say it isn't so.

  9. Dennis Svitak
    July 17, 2021 at 6:39 am

    What you need to know is DON'T BUY A NEW CAR IF YOUR CREDIT IS BAD. PAY DOWN YOUR DEBT. You're welcome.

  10. mom5cats kyle
    July 17, 2021 at 6:39 am

    When you say have equity, do you mean only that I need money for a down payment? Would I still be able to buy any car if I literally do not have anything left to save at the end of the month? What documents do I need?

  11. Zip_Zero_ZILCH
    July 17, 2021 at 6:39 am

    I am nearly two years out for my bankruptcy now but after making that first car purchase after the bankruptcy they judged me quite a bit on my prior repossessions. I was understanding that they couldn't judge you in anything pre bankruptcy once it had been completely discharged. Was it wrong of them to judge me on my previous repossession or is this okay? I feel like it was a double whammy judging me not only on the bankruptcy but also on the repossession. They came back with a ridiculously high rate even though I had come in with $3,000 down. Is it appropriate or have I been had? I thought the idea of the bankruptcy was to stop having them judge me on those. Thanks

  12. 1879gym
    July 17, 2021 at 6:39 am

    Deal with the bank not a dealership and keep them from making money from your loan

  13. Steven GENNERO Bootz
    July 17, 2021 at 6:39 am

    I just want me to car salesman that’s gonna work and try to get me a car not check one bank and say no I can’t sorry her is your deposit back

  14. William Driver
    July 17, 2021 at 6:39 am

    What if your credit score is over 700 but have nothing in your name

  15. Paul Kane - Buyer's Blueprint
    July 17, 2021 at 6:39 am

    100%!! nowing yor credit and what prime rate is for your score is the best ammo you could have going into the biz office.
    Sales people should not discuss rate, payment or products. If they are it is a distraction. Concentrate on OTD price for the car you came in on.
    BOOM!

  16. Green Aacres
    July 17, 2021 at 6:39 am

    I have poor credit… was trying to buy a new truck for work I had to come up with 15-20k for a 40k pickup. 7% from a non brick and mortar credit union.

  17. David Morris
    July 17, 2021 at 6:39 am

    How about fudging monthly payment for rent to get approved? I know a dealership that did this.

  18. Sheila Pendley
    July 17, 2021 at 6:39 am

    Thank You!

  19. LC G
    July 17, 2021 at 6:39 am

    How about just buy a $100.00 car….Car dealers are crooks

  20. Archer
    July 17, 2021 at 6:39 am

    Rule #1 of financing a car. Don't finance a car.

  21. William Giesecke
    July 17, 2021 at 6:39 am

    I noticed you guys have a Chevy Bolt I noticed it has a huge discounts .. Would that be a car that could work with Challenged credit ??

  22. Jman 2081
    July 17, 2021 at 6:39 am

    Why would I give the info of 6 friends and family members? They have nothing to do with buying a car.

  23. Mike Q
    July 17, 2021 at 6:39 am

    I was a victim of bad dealership just looking out for themselves and not helping someone. I had 20% down and a trade in. All they did is pulled 3 hard credit and ruined my credit worse.

  24. Sara G
    July 17, 2021 at 6:39 am

    How to buy a car with bad credit? Save up $3500 and buy and old school Toyota or Honda.

  25. Barry O.
    July 17, 2021 at 6:39 am

    Finally an honest dealer, if I lived in KY I'd buy from you . I have good credit so it might be worth it to take a drive to KY from PA to get a vehicle from somebody that is truthful .

  26. Jesse Greathouse
    July 17, 2021 at 6:39 am

    Basically any bank or dealership, who offers you a loan, when you have bad credit, is a predatory lender. The industry is set up this way. Don't do it. Get a cheap car, and get rid of your car payment to give yourself the opportunity to improve your credit with the cash flow that you would have been spending on a predatory loan. There are lots of cheap, used cars out there, which are good enough to get you from point A to point B semi-reliably. People think new and newish cars are more reliable than used cars. That's not necessarily true. It depends on the car. Do yourself a favor and get a cheap, reliable used car, and with the money you save, work on rebuilding your credit.

  27. Jim Mulderig
    July 17, 2021 at 6:39 am

    Thanks

  28. Kobby Dee
    July 17, 2021 at 6:39 am

    So does who disliked this video are the car dealers lol

  29. Christopher Woodard
    July 17, 2021 at 6:39 am

    I have a 690 credit score is this bad if I want to go to car lot?

  30. RoyalCalvin
    July 17, 2021 at 6:39 am

    You may want to give me a call then. I'm getting letters with 0% APR's and offers for a buyback but no equity? It doesn't make sense.