Bad Credit & Bankruptcy Car Loan near Fort Worth, TX

Bad Credit & Bankruptcy Auto Loans Available at Norm Reeves Honda North Richland Hills

Bad Credit & Bankruptcy Car Loans & Auto Financing Available Near Fort Worth TX

Gone are the days when bad credit or filing bankruptcy was a stigma and getting bad credit car loans was very difficult. As compared to the situation even five years ago, it is much easier now to get a bad credit car loan, even if you have filed bankruptcy. Having got this loan if you make the payments for your new car loan regularly, you will be able to rebuild your credit.

Everyone needs some sort of financial help at some point in life. Whether its finance to buy a home or an automobile. But if a person has bad credit, or has filed for bankruptcy in the past, he needs to look at more specific options or face the rejection. All leading banks and credit unions may reject his application for loans. But there are separate leagues of lenders who specialize in offering loans to people with bad credit. You can apply for bad credit car loans with them and your application is more likely to be accepted.

Norm Reeves Honda North Richland Hills has helped many North Texas customers secure a bad credit auto loan. It is a simple definition for a bad credit auto loan. It applies to people who have a low credit score, or a first-time buyer with no credit history. This type of car loan is referred to as sub-prime financing. These loans could be initially funded by a car dealership, like Norm Reeves Honda North Richland Hills, or by one of several institutions that specialize in providing sub-prime auto finance to customers whose credit score is typically below 620, or a customer with no established installment credit, usually referred to as a “Ghost”.

Auto financing for this situation is typically not determined by your credit score, but your ability to demonstrate several factors, known as “STIPS”, such as a fixed income of at least $1,800 per month, a Texas resident, American citizen or legal resident, ability to provide a valid drivers license and current proof of full coverage insurance, proof of residence (usually by providing a utility bill for your electric service, natural gas service or water service).

This proof of residence must be a bill for the service, that is in your, or your spouse’s name, comes to your residence and cannot be changed without moving. A valid phone number that you can be reached at is required. Then six (6) references are required for most all institutions. These references must include the person’s full name, address, city, state, zip code, phone number, and their relationship to you. It could be a family member, friend, co-worker or a neighbor. If a customer can provide all of this documentation, and it all checks out as valid, they are eligible to submit for bad credit auto financing at Norm Reeves Honda North Richland Hills.

Bankruptcy Auto Financing Specialist at Honda Dealer Serving Fort Worth TX

The Norm Reeves Honda North Richland Hills Finance Department works with a league of lenders who specialize in helping people who have filed bankruptcy in the recent past. It is possible for residents of the Dallas Fort Worth Metroplex to obtain favorable auto financing with a discharged bankruptcy at our North Texas Honda Dealership. We work with people who have a discharged bankruptcy to get them into a new car, or clean used car, and help them to re-establish credit with a great auto loan. Use our easy Auto Finance Application to get pre-approved today.