Those who live in Wisconsin appreciate the simplicity of life. The warm summer weather, the beautiful winter snow, and the fact they have so much beautiful space around them are just a few of the things many people around here appreciate more than anything. Living here means driving yourself around in your own car. It’s not exactly simple to drive around in Wisconsin without a vehicle, because public transportation is not as widely available here as it is in bigger cities. Even the largest cities work with limited transportation. If you have bad credit, it’s not easy to obtain a loan for a vehicle in any city in Wisconsin. Your credit history challenges banks to want to lend to you, and they’re not going to work with you when your most recent payments are delinquent and your score is low.
It’s a different story when your recent payments are on time and your score is low. Bad credit lenders tend to look favorably upon consumers who have bad credit provided their bad credit issues are in the past and their recent payment history is favorable. It’s why so many Wisconsin credit union lenders are willing to work with those who don’t score highly on the credit scoring system. If you have a credit union, apply for a loan there for a new automobile. They’ll ask what made your financial situation change to cause you to become incapable of paying your bills on time. They’ll also ask you what’s changed in your life and how you can work around that to help them become better acquainted with the entire story.
You can also apply for a bad credit loan with many Wisconsin car dealerships. These dealers make it possible for you to buy a car from their lot of used cars specifically held for those who have a small budget or bad credit. These cars might not be the best cars in the world to drive, but they’re also not the worst. They’ve all been inspected and certified, and they’ve each been repaired to make them functional for drivers. One of the biggest stipulations for this type of loan is a large down payment. It’s not uncommon for people to need a down payment of this large variety when you have poor credit. It’s how lenders ensure they’re able to get a portion of their own funds back in return.
If you’re considering a buy here, pay here lender, beware. These are lenders that do offer credit to those unable to get it elsewhere, but they’re also lenders who take great advantage of buyers. Interest rates can be in the hundreds, and you have to make payments every two weeks rather than every month. The fees are expensive, and these lenders don’t send your payment information to the credit bureaus. You could spend years making on-time payments on a car that no one is able to verify when you do want to raise your credit score.
Dealer Regulations in Wisconsin
Wisconsin law states all car dealerships must adhere to specific laws and regulations. There are those that have a truth in lending act association, and there are laws that detail how a dealer can do business and what kind of vehicles they can sell. No dealer is authorized to sell a vehicle that doesn’t have much in the way of an inspection. It’s a requirement that dealers are in business with a mechanic for this reason. These mechanics should do the work to ensure all vehicles on the lot are in good working condition. They should be well-maintained, they should be inspected for any open recalls, and they should be checked to ensure they’re not a danger to anyone driving them.
All dealers are required to provide a free Carfax report to all the consumers who come into the dealer asking for one on a specific car. This is how buyers know whether or not a car has a questionable history they might not choose to work with, and it’s how they know where to go when they need to find out if the car was maintained. Any dealer that refuses to provide this information is incorrect, and it’s grounds for discipline according to state laws. It’s also imperative all dealers have the correct licenses and certifications provided by the state.
Driving in Wisconsin
The biggest cities in Wisconsin are the worst for driving, and they’re not even that bad. Milwaukee, Madison, Green Bay, Kenosha, and Racine are all the largest, but they don’t have that much issue with traffic. There are inclement weather days that make it difficult to drive around in the snow, and many people are uncomfortable driving in this type of weather, which means it’s safer to simply stay off the road.
The other issue is some of the laws regarding driving on Wisconsin streets. Did you know it’s illegal to fail to provide livestock with the right of way on the road? It’s also illegal to fail to adhere to any other rules of the road, but most people are aware of those rules and avoid breaking them by anything other than their own choice.
If you have bad credit, you’re not alone. Millions of people across the nation suffer from bad credit as a result of the downfall of the economy less than a decade ago, a lack of financial education when they were younger, and the sudden realization they have hundreds of thousands of dollars in student loans. It’s not ideal, but there are options available for you when you have a need to buy a car. It’s not always the most pleasant situation, but it’s possible to find a loan that works for you and your financial situation in Wisconsin. You can have a bad credit loan, but it’s a good idea to try and fix your credit first.