If you have bad credit and live in Oregon, you may have had a hard time finding an auto loan. Bad credit is basically anything in your credit history that will make it difficult to get a loan or hard to get a good interest rate. People that have had a bankruptcy, foreclosure, limited credit, self employed income, or no credit may have a hard time finding financing. Here a three step to getting an auto loan with bad credit in Oregon.
- Gather up all the necessary documents. Lenders may want to see a few documents before they give you an auto loan.
Proof of income – recent check stubs if you are a regular W2 employee with a check stub. Award letter – if you get your income from social security, pension or other forms of set income. Tax returns and three months worth of bank statements – if you are self employed. Next, you will need proof of address – usually, a utility bill is best. References – get name, address, and phone number of 5 friends, relatives, or anyone who knows you. - Determine how much money you can put down. Even if you don’t have bad credit you should ALWAYS put money down on your auto loan. Money down will get you to a better equity position which may give you more car choices, bring your monthly payment down, and avoid a bunch of interest charges. Money down may also be the determining factor in whether or not the bank says yes.
- Find a special finance program – Rather than search all over and talk to every dealer in a 50 mile radius, just let us match you to the best program in your area. Simply complete the Easy 90 Second Application to be matched to your best special finance option near you.
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Some cities we can help: Portland – Salem – Eugene Gresham – Beaverton – Hillsboro – Medford – Bend – Springfield – Corvallis
