How to Buy a Car With No Credit in New England

May 1st, 2015 by

auto financingIf you’re wondering how to buy a car with no credit in New England, it may seem like a daunting process. After all, the financing process is complicated enough, but what about situations where you may not have the necessary credit rating for loan eligibility? To address this problem, we at Shannon Motors have compiled this special report exclusively for New England drivers with less-than-stellar credit who are in the market for a reliable vehicle that matches their unique financial situation. Here are a few of your options.

Pay for Your Vehicle Completely in Cash

Paying for your vehicle completely in cash is a great way to avoid future cash-flow problems. Since your vehicle will begin depreciating as soon as you drive it off the lot, you’ll be saving the most money possible by investing in a vehicle that allows you to rely on the cash you have on hand to afford it rather than resorting to an auto loan or another financing arrangement. Although this option isn’t available to everyone, it’s definitely one to consider.

Direct Attention Toward the Length of the Loan

Here is the general idea: the longer the loan, the more you will pay. It’s very important to consider the time frame of a loan if you need to rely on one to afford your vehicle. Long loan time frames may allow you to spread out your payments and manage your cash flow better, but they will inevitably result in you paying more due to interest and depreciation of the vehicle.

What is a Buy Here Pay Here Dealership?

An alternative option to paying with cash or getting a bank loan when purchasing a new vehicle is to visit a Buy Here Pay Here dealership in New England. A Buy Here Pay Here dealership (like Shannon Motors) provides both the vehicle AND the financing. Instead of relying on a third party financier like a bank, a Buy Here Pay Here dealership will handle everything in-house for you. This is a great option for New England drivers who want a custom-tailored financing arrangement that takes their unique circumstances into account.

Stop Wondering How to Buy a Car With No Credit — Come to Shannon Motors!

For a dealership that truly cares and is willing to help drivers of all financial situations afford a great and reliable vehicle, visit Shannon Motors today!