Does your bad credit leave you wondering how you’ll buy a new car? If you live in Hawaii, you need a car. Most places on the islands are too far from cities and towns to walk or commute to and from work, which leaves residents in a bind when it comes to working and living on any of these beautiful islands. Since public transportation is available in the bigger cities, it’s a little easier to get around without a car. If you live outside the cities, however, you’re going to find it difficult to get to work and home without a vehicle. If you have bad credit, you might think it’s impossible to buy a new car.
There are options. The first thing to do is get your credit report from the three major credit bureaus. You need this to help you get a loan from any lender, and to understand where you stand in terms of your credit score. Bad credit is not good, but the higher the number of your bad credit the higher the chance you can secure a loan. Many dealerships will work with bad credit buyers if they have a down payment. There are banks and lenders with a specific department for those who want a loan but have bad credit.
There are requirements for people who have bad credit to secure a loan. Most lenders want at least 10% of the value of the car used as a down payment. It’s not easy to get a loan for a new car without a down payment, which is why so many bad credit dealers are willing to work with those who receive a large income tax refund. Down payments are necessary, and they’re often required. Another option is to seek financing of your own before you purchase a vehicle. If you are able to find financing for a ride, you can go to a dealer and buy a car without any hassle with proof of funds. If you have bad credit, your best bet is to seek the help of your credit union.
The people at credit unions do look at your credit score to help determine your worthiness for a loan, but they don’t look at the number by itself. They look at the history that goes along with it. If you have bad credit because you were unable to make payments on your credit cards for a year several years ago but have made timely payments since then, your credit union might still work with you. It’s easy to get a bad credit score, but it’s not easy to build it back to a good score. This is why recent credit history is sometimes more important to lenders than anything else. Bad credit items stay on your report for 7 years, and there’s nothing you can do about that. Speaking with a lender about why your credit went south so many years ago, however, is a good starting point if you have great payment history, income, and other financial information for at least a year.
Dealership Requirements in Hawaii
Hawaiian car dealerships are not permitted to work outside the realm of the law in this state. Each dealership must operate with specific licenses, and all their sales personnel must have the proper licenses. Every car that enters the lot of a dealership must have the correct mechanical checks performed on all cars that come onto the lot. This means they must have a mechanic on staff that has the correct certifications and the correct background. All cars must be checked for water damage, the Carfax reports pulled, and any recalls on the vehicle must be cleaned up and fixed right away.
If you buy a car that doesn’t have this kind of history, you’re not going to enjoy driving it. If the dealer doesn’t do their part to adequately handle their part of this job, it’s grounds for serious trouble within the state. Each dealership has a duty to care for their clients and customers by providing Carfax reports to anyone who asks for one regarding a specific vehicle, and they cannot knowingly advertise a car with a negative history as a brand-new car or one that’s never been damaged or repaired due to an accident.
Driving in Hawaii
Honolulu, Mililani, Pearl City, Waipahu, and Kaneohe are the biggest cities in Hawaii. They’re not all on the same island, and only Honolulu has more six-digit residency. This island is not known for its large population so much as it’s known for being a vacation destination. This is one thing drivers in the state must know. There are always tourists on the road, the roads are sometimes steep, and driving here is always a risk if you don’t obey traffic laws.
On a lighter note, Hawaii laws are often entertaining and fun to learn. You’ll never see a billboard in this state, because they are illegal. While it’s illegal to sit in the backseat of a car without wearing your seatbelt, you can sit legally and without any safety measures in the bed of a truck if all the seats are occupied and the seatbelts are in use. These are just a few of the interesting laws in effect when you’re behind the wheel of a car in Hawaii, though they can be changed at any point. In the past, it was illegal to drive in Hawaii if you didn’t know where you were going.
Finding a new car in Hawaii isn’t difficult if you have good credit, but it’s a challenge when you have bad credit. You know your financial situation isn’t the best, but you also know you have a chance to fix it by fixing your credit. You can still get a loan with bad credit, it just requires a lot more money upfront, and it requires finding someone willing to work with you. You might not be able to purchase the car you want, and you might not be able to buy something brand-new, but you can buy a new car and use it to make on-time payments in hopes of raising your credit score.