Connecticut drivers don’t always drive their own vehicles wherever they go. Many commute to the city for work, and they take the train. They take other means of transportation, too. However, the area is not always conducive to car-free living. If you live here and need a car, you want to find the best vehicle for the least amount of money. If you have bad credit, that’s almost impossible. Before you panic at the thought of not qualifying for any auto loans, know that what you do from this point forward makes a big difference in your future car-buying power. Whether you need a new car now or in a few months, there are a few options for you.
The first option is to put off the purchase as long as possible while you have bad credit. The better you can make your credit score, the more money you’ll save on interest payments. Now is the time to check your credit report to see if there are any negative items on it, if there are any issues on it that might not be true. If there are, you must write a letter to the credit bureau disputing these items. From there, the credit bureau will send a copy of your dispute to the creditor in question. The creditor has 30 days to respond agreeing to remove the false item or disputing your dispute. If the creditor doesn’t respond, the item is removed following the 30-day process. This raises your score.
It’s also the best time to pay off as much debt as you can, make only on-time payments, and start using your credit wisely. We’ll get into why this is important in a few moments. Now you know how to work on your credit, it’s time to learn which options are available to you when you need a bad credit auto loan.
The first is a credit union loan. These are lenders who want to lend you money if you have a relationship. Even if your score is low, they’ll look past that to the best of their ability. They’ll look to see where you are financially right now by asking for proof of your income. They’ll also check your credit report to see how long you’ve gone without missing or making any late payments.
You can also apply for a bad credit auto loan with an auto dealer. This is possible if you find a local Connecticut dealer that works with those types of lenders. It’s more common today to find a dealer like this than it’s been in the past, which makes it very easy for you to find a lender to work with and a dealer to buy from. You might need a large down payment for a loan of this nature, which is why you want to put off the buying process as long as possible while you save. It is possible, and it’s something you can do without too much fanfare.
When you’re ready to begin the search for a new car, it’s time to see what you can get in terms of a dealer. Working with smaller dealers without a nationally-backed brand name is tricky and sometimes risky. These dealers aren’t usually problematic, but there’s always one or two that works without the proper licenses and certifications. This is illegal in Connecticut. You want to work with a dealer that does abide by the law and makes it easy for you to work with them. There are laws regarding the type of vehicle a dealer can sell.
It must be thoroughly inspected by the dealer, and it must pass all emissions and safety tests. If a dealer isn’t working with a mechanic who has the correct knowledge and certifications to do this, you’re not doing yourself any favors working with them. The final thing you want to look for is an honest dealership. You are entitled to a free Carfax history report anytime you want one on a car you’re considering for purchase. If the dealer doesn’t provide you with one, they’re breaking regulatory laws. This is a requirement in addition to providing this to you without charging you for it.
Driving in Connecticut
None of the cities in Connecticut is very large. Bridgeport is the largest, but there are only 147,000 residents. The five largest cities in the state have more than 100,000 residents, but none are very large. This means traffic is not so bad for most and with so many commuters, the roads are typically clear most of the day. The weather can be tricky in the winter, but it’s lovely to drive here in the summer.
The most important thing you can do when you drive in Connecticut is abide by the rules of the road. The laws are in place to protect you and the car you fought so hard to buy with a bad credit loan. Obtaining a loan like this is such a hassle for so many people, you certainly don’t want to do it again right away if your car is damaged or destroyed because you didn’t abide by the law of the road.
The speed limit is one of the most important rules on the road, and it’s important for all people in the road. If you’re driving your new car and see a bicyclist going more than 65 miles per hour, call and report them. This is illegal and very dangerous, and they could be ticketed for this offense.
You aren’t alone in the desire to buy a new car with bad credit hindering your shopping experience. It’s something many people face when looking for a new car in this state, but there are options available for you. While you might not be able to get the kind of car you want right away, you might not be able to get the kind of deal you want, and you might have to compromise a bit, it’s possible. Know your options.