In Part One of the series, we discussed the advantages of having current income in order to get approved for a car loan despite bad credit.
In today's post, we'll discuss another important component of applying for a car. These tips, while specifically structured around the custom car loan program at Easton Motors, can also work across a wide range of credit applications, and we encourage you to seek out professional education whenever possible.
References: One of the Keys to Unlocking Credit
A handful of good references--people who can vouch for your character--are always a smart component to any credit application, and, if you happen to be getting a car with bad credit at Easton Motors, we require that you have at least 8 personal or professional references if applying as a single person (12 references for couples, and 16 references if you're applying as a single person with a co-signer) before we will sell you a car. [Note: not all applications require that many references, but this amount is intended to protect you and give you as many opportunities to get a car as possible.]
When hoping to get a car with bad credit, here are just a handful of good people to approach for references:
- Your current boss or manager
- Long-time co-workers (preferably those in positions of authority at your company or organization)
- Teachers or school administrators
- Your landlord
- Your religious leader or mentor
- Community leaders
- Former or current coaches
Asking the most responsible people in your life to vouch for your character is always a good policy, whether you're applying for a car loan or applying for a job. And, as always, make sure you check with your chosen references before listing them on a car application--no one likes to be blindsided, and giving your references a heads up help them give you the best reference possible.
If you're just starting your car search and need some help establishing income, check out our FREE PDF below for some printable tips.
And, for those of you in the middle of your financing process, making sure that you have all your ducks in a row will always ensure the quickest path from car loan applicatant to car ownership.
Best of luck for all of you hoping to buy a car, and be sure to check our blog for weekly insider tips!