Maryland offers a lot of choices for consumers who need a bad credit auto loan. Regardless of their credit, potential car buyers can head to their local dealership to speak with a finance manager about their situation or apply at a number of different banks themselves. Speaking with a finance manager at a car dealership is the best option because they’ll be able to forward your application to the bank that they think will approve your loan. This method cuts out the time and hassle it takes to apply at different banks yourself, either online or in person. When applying for bad credit auto loans in Maryland, consumers must bring proof of income, proof of residence and a valid driver’s license to the dealership. Depending on which bank approves the loan, additional documentation may be requested.
Requirements for Purchasing a Car in Maryland
Those looking to purchase a car in Maryland must fill out various paperwork at the dealership.
If a new car is being purchased, the buyer must submit a completed title application, registration application, inspection certificate and application for specialized license plate, if relevant. The amount of fees that need to be paid will differ based on the purchase price of the car, the type of car, and what county the dealership is located in.
If a used car is being purchased, the buyer will need to fill out similar paperwork with the exception of a title transfer form. On the original title, both the buyer and the seller must input their contact information correctly in addition to the lien holder’s information on the back. A different inspection is also required for used vehicles.
Insurance is also required at all times for vehicles registered in the state of Maryland. The minimum requirements include $30,000 for bodily injury, $60,000 for two or more people, and $15,000 for property damage limits. If you plan on trading in your old car for a new one, make sure the DMV and the insurance company are both notified immediately.
Driving Conditions in Maryland
While not a walk in the park, driving in Maryland is much easier than driving in other states on the east coast. Baltimore, the largest city in Maryland with a population of over 620,000 people, is by far the most crowded place in the state. Traffic on Interstate 95 and Interstate 83 can be very bad during commute hours. Since Baltimore is within close proximity to Washington, D.C., southbound traffic into the big city can be backed up for hours.
Silver Spring, a city of over 70,000 inhabitants, is located just north of Washington, D.C. The traffic here is not as bad as Baltimore, but the area can still get very crowded when commuters are heading home from work.
When it comes to winter driving, Maryland does experience some snow fall during January and February. Drivers are advised to be extremely careful during these months, especially when the temperature dips to below-freezing levels.
Bad credit auto loans in Maryland are not difficult to come by. There are numerous banks and finance companies that are willing to help honest consumers get into the car of their dreams, regardless of past credit indiscretions.