California is a beautiful place to call home, but it’s not always as beautiful as it seems for all residents. Those with bad credit cannot help but live a life that’s more stressful than it is for others. Some people can’t even find financing to purchase a new car, which is a must-have in many locations. While it’s easy to find public transportation in many of the bigger cities, it’s not so easy in the smaller communities. When this happens, residents are unable to get to and from work, to commute to their activities, to the store, and to their appointments. Life is difficult when you have somewhere to be and no way to get there. It’s why so many people with bad credit in California are confused about how they’ll purchase the car they so desperately need.
If you are a California resident with bad credit, there are options for you in terms of car loans. Not every loan available to you is a good one, but there are some that are much better than others. One solution is your credit union. This will only work if you have good payment history as of late. If your credit report shows you’ve been handling your finances well for a year or more, you’re going to find a banker or credit union lender is more likely to lend to you. They know that sometimes bad credit happens to good people in a bad situation. Since you can’t remove bad credit items for 7 years, it makes your credit score drop tremendously. If you have good payment history in the recent past, however, it shows you’ve gotten your financial life in order and are working on your credit score. This bodes well for you when lenders are willing to look past the number into the actual story behind your score.
If you can’t do that, you can always work with a lender at a dealer that specializes in bad credit. If you know a dealer like this, you can head there and see what they can offer you in terms of a bad credit loan. There are some options for you, but you’ll probably need a relatively large down payment. Expect to pay at least 10% of the car’s value when you sign the paperwork for your loan. The worst your score is, the more you’ll pay. Finally, you can always resort to picking up a car at a lot that specializes in their own financings.
These are commonly referred to as buy here, pay here lots, and they’re a bad idea for anyone who has another option. If you have the worst of the bad credit in California, it might be your only option. These lots require large down payments, and they don’t report your loan to the credit bureaus. They require bi-monthly payments, and they make sure you pay more interest here than anywhere else. Only go this route once you exhaust your other options.
Dealer Requirements and Regulations
California law is strict regarding car dealerships. All cars must be as environmentally friendly as possible, and dealers must employ a mechanic with proper certifications to inspect all vehicles that come onto the lot. It’s not always easy for these dealers to obtain the certifications and licenses they need to do business, but it’s law in California. If you don’t see any of these displayed in the offices of a dealership, ask to see them. If a salesperson can’t show them to you, you know it’s time to walk out of the dealership because they’re likely operating illegally.
California law also requires all dealers provide buyers with any Carfax report they ask for. This is free of charge to the consumer, and it’s something they should okay without hesitation. Any dealer that makes this a big deal or refuses to provide it probably has something to hide, and you don’t want that car. You should also ask the dealer how they have their vehicles inspected when they come onto the lot, especially when it comes to picking out a car with higher miles. These laws are in place to protect consumers, which is why they’re so important.
Driving in California
It’s not easy to drive in California when you’re not accustomed to it. The traffic is terrible in many locations, but the weather is usually lovely. Insurance is a bit more expensive, and it’s always a hassle for car owners to have their vehicles inspected each year to renew their tags. You can expect to pay more to keep a car in the bigger cities such as LA, San Diego, San Francisco, San Jose, and Bakersfield. You can also expect to obey some strict traffic laws in California.
It’s illegal to go hunting inside a moving vehicle in California. It’s not, however, illegal to shoot a whale from a moving car on a California highway. If you are a woman, you should know it’s against the law to drive while wearing your housecoat. These are just a few of the laws you must obey while on the road in California. These laws are all designed to keep drivers safe, to protect their vehicles, and to make driving more enjoyable. Since it’s difficult enough to secure a bad credit loan, you want to pay attention to the rules of the road so you keep your car safe. Getting a second bad credit loan might prove challenging.
Driving in California is enjoyable, but only if you can get the kind of car you want. You might not get your dream car with a bad credit loan, but you’ll end up with something you enjoy. It’ll get you from point A to point B, which is what you need a vehicle for in this state. There’s always public transportation in the bigger cities, but you can still find someone to loan you the funds for a new car if you look hard enough.