This is a great question. We hear it all the time.

When you have good credit, you apply for an auto loan and the lender typically says, “You are approved for XX,000.00. Go pick out a car.” Or, something like that.

When your credit is not so good, the lender says something like “The applicant is approved for up to $400.00/month. The vehicle must have under 45,000 miles, and be a 2008 or newer. If the vehicle has more than 40,000 miles, you must add 2% to the interest rate and shorten the term to 48-months. If the vehicle make/model is not preferred, the applicant must put $2000 down.”

Bad credit auto loans are more complicated.

Now imagine working on 3 or 5 different approvals for the same person on a hundred or so used vehicles. Each approval having different guidelines, and each vehicle having a different affect on the loan. It is a lot to figure out.

Because of all the variables, the amount varies. There could be two vehicles with the exact same price, however, the payment on one could be $515, and the payment on the other one could be $399. Well, you would only be approved on one of the vehicles, not the other. So, even though you are technically approved for the amount, you are not approved for the amount on every vehicle.

That is why once we actually have an approval for you, we will setup a time to have you come in and go over your options. We do not do it ahead of time because it is too much work to do without a client that is committed enough about buying a vehicle to at least come see us.

For most people, it is better to get approved for a loan before car shopping.

If you have good credit, you are able to calculate what your payment and interest rate will be. You will be able to tell exactly how much vehicle you should be looking for, and you will know if the dealership you are working with is being honest with you.

If you have bad credit, you do not even know IF you can buy a particular vehicle. You could spend hours or days looking for the best car out there, but not be able to buy it. Why not skip the frustration? If you have credit challenges, the lender will have a major say in what you end up buying. It is better to get the lender involved early on.

When you apply with us, we help you get approved for an auto loan. Once we have verified your car loan documents, to make sure the loan will make it through the funding process, we filter through the available dealerships and help you pick out the car that works best for you and the lender. The year of the vehicle, the mileage, even the make and model, will all play a part in what your final interest rate and approval amount will be. Bad credit auto loans are complicated, but we do everything we can to simplify the process and send you home in your new car.

We are located in the Olympia Auto Mall. Our office is in the WHITE BUILDING at All Star Ford.

We ONLY work on appointments. Please do not just show up without an appointment. Call 888-300-3502 to schedule.

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