What is Bad Credit Car Finance?
Bad credit car finance is a lending option for people who have low credit scores and negative marks on their report. Sometimes things happen that may be out of our control. Perhaps a bad decision was made and led to an overdue debt. Maybe someone lost a job and simply could not pay back a loan no matter how much they wanted to. At Zoom Car Loans we understand that things can go wrong, but that doesn’t mean you should be stuck with no way to recover.
Know Where You Stand
As much as you may not want to look, it’s important to know where you stand financially before applying for bad credit car finance. This includes two main parts: your credit rating and your current finances. First, you should review your credit report so that you know your score and can prepare for any questions a lender may ask. If possible, you should try to find ways to remove any negative items as much as you can. That might mean making a payment arrangement, paying off smaller debts, or having incorrect data removed.
Then you will need to write a budget. This should include everything, even the smallest detail. If you like to buy a cup of coffee each morning, add it in, or if you like to go to a restaurant once a week, include that as well. Anything that could affect the amount of money in your pocket each month should be included.
Know How Much You Can Afford
Now that you have a budget, you can determine how much you can afford to pay overall and per month. You should try to find a vehicle that you can comfortably pay off, ideally one that doesn’t come in at your maximum affordable amount. Find a model that offers a good balance of cost and quality. You need a car that’s reliable and safe, but you may be able to sacrifice a few extra features to keep your payments manageable.
Let Us Help You Get Approved for Bad Credit Car Finance
You don’t have to feel alone when applying for bad credit car finance. Zoom is here to help. Our experts understand the difficulties you face. We treat every customer with respect and care. We know the industry and can answer questions and help you find a path to a new vehicle that fits your budget and situation. The first step is to go to our website and fill out the assessment form or to pick up the phone and call 1300 138 273 to discuss your bad credit car finance needs.