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Don’t let your credit score keep you from the car of your dreams

Purchasing a car can be one of the most exciting moments in your life but the process can be stressful, especially if your credit score isn’t flawless.

Contrary to popular thought, purchasing with a not-so-perfect credit is possible. Chapman Chrysler Jeep is here to show you how.

First, what is a good and bad credit score, you ask?

Scores range from 300 to 800 and the average sits at 620. A poor credit score, according to freescore.com, is below 500 while an excellent one exceeds 720 points.

Your first step should be to determine your personal credit score. This can be accessed at your bank and is the most secure option, but you can also attain it through various websites including freescore.com, equifax.com and others. Be wary of scams.

Credit scores lower than 600 will encounter hurdles when trying to secure a loan to purchase a vehicle but rest assured that it isn’t impossible. Programs, tips and tricks are available to those who need them.

Your Vegas Jeep dealer has them.

First, select a vehicle that reflects your budget. Assess how much you can realistically dedicate each month to a car payment and share this with your car dealer.

If you wish to seek out a loan yourself, secure a list of banks in your area and conduct some research. Which bank is most reputable? Your best bet is to speak with a representative of the bank directly. Consider the interest rates and contract terms of the information they provide to you.

For example, Wells Fargo Bank has a program that provides auto loans to individuals with poor credit scores. You can apply online and receive a preemptive decision from the bank within seconds. There are also 104 Wells Fargo banks in Nevada available to you.

You can also arrange financing through Chrysler Henderson. Dealers work with you and several financial institutions across the nation to secure you the best deal. When visiting the dealership, bring with you pay stubs to prove a steady source of income, and utility bills from your residence (it is best if you have been there for a year or longer).

When at the dealership consider putting a considerable sum of money down, or lease a vehicle rather than purchasing one outright. Leasing typically has lower down payments and monthly payments. Not only that, but you would have access to the newest cars, trucks and sport utility vehicles.

If you have more time, consider improving your credit score before applying for an auto loan or purchasing a vehicle. Pay down or pay off credit card balances and try not to exceed using 30 percent of your given limit. This produces the quickest and most effective result.

Of course, Chapman Chrysler Jeep enjoys working with individuals on a case-by-case basis. Forget stress! They are available to provide customers with the car of their dreams.

See a dealer for questions.

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