Recent Repossession? Multiple Repossessions?
No Problem! Get A Vehicle Loan After A Repossession From Toyota Of Fort Walton Beach.
If your property has been repossessed, it can mean a whole lot of trouble both in your life and for your credit score. However, if you do have a repossession on your record, it doesn't mean that you can't get an auto loan. If you need to buy a vehicle and also need a loan, come to Toyota of Fort Walton Beach.
We offer bad credit opportunities to all of our customers, even those who have gone through a recent repossession or have multiple repossessions on their records. Most financial advisors will tell you to wait as long as you can after a repossession to apply for any type of loan, but if you need a car now, a bad credit loan is a great way to get reliable transportation fast! No need to wait another moment; if you're looking for a reliable car in FORT WALTON BEACH, FL, come to Toyota of Fort Walton Beach and let our financial specialists help you get a hassle-free auto loan. Our location serves all of the following: Pensacola, Panama City, Wright, and Navarre.
If you are applying for a bad credit auto loan and have recently had a repossession or have a past repossession on your record, here are a few tips to make applying for a bad credit loan easier:
- Determine the exact state of your credit: if you have had a repossession, be it of a vehicle or other property, it might not be as bad as you think. Get a copy of your credit report and read it thoroughly before applying.
- Check your credit report for errors: correcting errors, even a misspelled name or incorrect address, can have a positive impact on your score.
- Fix what you can: determine which credit issues you will be able to resolve, whether it's settling balances in collection, bringing past-due balances up-to-date, or simply being more disciplined with your spending and borrowing.
- Prepare for an increased down payment: having a large down payment available will help you greatly. Prepare for a down payment somewhere around 20% of the value of the vehicle you plan on purchasing.
- Have the necessary documents on hand: it will be easier to secure a personalized loan if you have all the necessary documents available when you apply for your loan. Ask your lender what documentation they will need before you start. Your driver's license, a recent pay stub, proof of insurance, a utility bill, and possibly your most recent federal income tax return are commonly requested.
- Be upfront with your lender and finance advisor: most sub-prime lenders are going to do their due diligence, so it's best to be truthful from the start about your finances.
- Buy a vehicle that fits your budget: focus on the basics, choose something reliable and without a lot of bells and whistles. You might not get your dream car, but you will have reliable transportation that you can afford and that won't require a huge down payment.
Apply for financing today with Toyota of Fort Walton Beach by filling out our secure online credit application. Get the auto loan you need today!