Scott Lot takes pride in offering some of the best used car financing in the Allentown area. While we work with drivers who are beginning to build or repair credit, we know that some of you may encounter challenges when applying for a loan. That is why we’re sharing these best practices to follow in the rare event you are turned down for financing.
Improve Your Credit Score
Credit is one of the most significant factors to consider during the vehicle purchasing process. Credit tells lenders how reliable you are to lend money to, which is why drivers with higher credit scores have access to more favorable financing terms and conditions. If you’re denied a loan, consider taking the time to raise your credit score.
Explore Other Vehicles
There are many exciting vehicle options to pick from here at Scott Lot, but be flexible enough to adjust your goals and expectations throughout the vehicle financing process. If you got turned down for financing, you might want to set your sights on a different vehicle that better fits into your budget.
Purchase in Cash
If you cannot find a cosigner and have exhausted your other alternatives, trading in your current car is an excellent way to offset the cash purchase price of a vehicle. Sometimes being able to show a higher down payment can tilt the odds in your favor.
Test Drive Pre-Owned Vehicles at Scott Lot
There are many benefits to purchasing a pre-owned vehicle and many exciting vehicles to pick from when you come to Scott Lot. Learn about the pre-owned vehicle financing process and begin picking out the perfect new pre-owned vehicle with support from our expert team today.
