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Guaranteed Auto Loans Bad Credit No Money Down

If you are searching for “guaranteed auto loans bad credit no money down near me” or “bad credit auto loans az” in Phoenix, this post should help! In-Power Motors 2 offers buy here pay here financing and can get you approved for a used vehicle for as little as $500 down. We are one of the only $500 down car lots that offer financing for buyers with bad credit or no credit.

As long as you make enough income, most bad credit no credit car dealerships will offer you financing, even with low money down. However, not everyone has $500 dollars to put down on a vehicle. So, we are going to show you how to get a guaranteed auto loan with no money down.

According to EarnHardtChevy, “The economy has been improving, many lending institutions and financing options are returning into the market. The fact is, that many consumers with bad credit issues are still able to receive financing on a vehicle

Tips For Guaranteed Auto Loans With No Money Down

Just because you have bad credit doesn’t mean you can’t buy a vehicle. As long as you can prove you have a job, make enough income, have a solid residency history and a bank account, you should be able to find no money down or low money down financing for a used vehicle. Read more about these qualifications below.

1. Job History

Anyone that is going to offer you financing wants to see that you have been at your current job for a while. They want to know that they can trust you to make your payments on time. If you change your job on a regular basis, your chances of getting a guaranteed auto loan are very thin.  A great tip for getting your auto loan is to have a couple of your most recent check stubs showing your year to date income.  This helps support what you make and that you’ll be able to make the payments.

2. Residency History

You will have a better chance of getting approved for an auto loan if you have lived at your current location for at least 1 year. It makes lenders worried when they see you move frequently. If you stop making payments, they want to know where they can come to pick up the vehicle.  For proof of residency, a current power or water bill is great to have with you.  They should say your name and the address you’re using for your auto loan application.

3. Open A Bank Account

Make sure you have an active bank account where you deposit checks or cash from your employment. You don’t have to have a large balance but some lenders like to see your bank account transactions before deciding to lend to you, especially if you are a business owner and don’t get paid with a check.

4. Get A Credit Card

Get a small line of credit like a credit card that you use and pay every month. Having some form of positive credit will go along way with getting lenders to trust you. The longer you have maintained this positive line of credit, the better chance you have at getting approved for a no money down car loan.

5. Trade-in a Vehicle

Did you know you can actually use a trade-in vehicle instead of using money as a down payment? According to RoadLoans, “if you currently have a car to trade, putting the trade-in value towards your purchase counts as a down payment. Look up your vehicle’s current trade-in value at sites like and to see what you might get.

What is a No Money Down Car Loan?

Also known as zero down cash loans and no cash down loans, a no money down loan is aimed at borrowers with a credit score of 700 or greater for the best chance to qualify for a loan. If the lender feels like you are paying a fair price for the vehicle or you are getting a loan from a reputable local dealer like In-Power Motors and have a trade-in, these loans can become much easier to obtain. You will have to provide recent pay stubs as part of the terms and conditions for this kind of loan to ensure you have the means to pay the loan back. A no money down car loan can be a fantastic option and the professionals at In-Power Motors are happy to discuss all your financing options to get you into the vehicle you want.

You can benefit from this is many ways, no matter what your financial situation. Here are some of the many benefits by using In-Power Motors no money down car loan programs where there is no down payment and no financial relief:

  • A new or used car without making a down payment
  • Instant financial relief
  • The ability to make affordable and realistic monthly payments.
  • The replacement part of your old one breaks down
  • The second car for your family with no hassle

Credit Score Needed for Zero Down Car Loan

We understand it is not anybody’s first choice to have to finance a car with no money down and with bad credit. But it is necessary from time to time. Usually, you will need a down payment of at least $500-$1,000 and an acceptable credit score to qualify.

According to SuburbanAutoFinance, “If you are at least eighteen years of age and make at least $1500 a month, then there is no reason why you should not qualify for auto financing.”

What Do Zero Down Lenders Look At To Get Approved?

  • Your income level
  • Job history
  • Credit score

It is very important to submit an accurate application. This will ensure your lender can substantiate that you are in a position to make payments regularly (and this will, of course, improve your credit score over time) says, “Car shoppers often think a down payment has to be a large portion of the vehicle’s final price, but dealerships are typically willing to take any amount down. Even $100 shows that you have some skin in the game and are serious about paying off the loan.”

How No Money Down Car Financing Works

Car dealers finance other loans and continue operating by using the upfront payment you make on a new car. Nowadays, because of rising demand, lenders are taking on more risks than before because the need for car loans with no money down and bad credit has increased a great deal. To be able to take on some of these additional risks, they need to make various adjustments.

Obviously car dealers would still rather you make a down payment is it is feasible. Without making a down payment, the total payment will be higher and the money you thought you saved at the beginning will, of course, be charged later. Obviously, over time the zero down loan options is more costly than a loan where you made a down payment.

Additionally, the loan company may subtract any repair warranties that may be offered with the car. Nonetheless, no money down car loans is still a good proposition for a short-term loan.

Two Kinds Of Car Shoppers:

  • The Quick No Money Down Car Buyer: Choosing a no money down car loan may be the choice for a quick buyer. It is a good option for those incapable of making a large down payment. A quick buyer appreciates that car loans with bad credit and zero down are easy options. With a credit card ready to go, they see the car they wish to purchase. Choosing this option may be important if it is a limited time offer. Although it may be the opportunity of a lifetime, it can cause further financial stress down the road.
  • The Car Buyer With A Poor Credit Score: Buyers with bad credit scores often opt for zero down car loans because they simply do not have the needed cash to make a down payment, making getting a car loan substantially more difficult.

Sadly, there are some less than reputable companies who exploit this by raising their prices and charges excessive amounts of money. Often they increase the monthly payments over time. When the buyer realizes this, it is often too late to make any changes. Thankfully, In-Power Motors are on your side and will work with your situation to ensure you not only get into a vehicle but one where the price you pay will be clear up front.

Buy Here Pay Here Dealerships With No Money Down in Phoenix, AZ

If you’ve got a steady job, enough income, and a down payment; you’ll most likely be able to get an auto loan for a new used car at one of our used car dealerships in Phoenix.

Here are some more resources for guaranteed auto loans with no money down:

The easiest way to a loan for a car is to stop by one of our 4 locations.  You can fill out our application and talk with us directly about getting the wheels you need for your personal and/or professional needs.  Whether it’s a car, truck, van, or SUV we have a huge selection that beats the competition and a buying experience that’s second to none!  Call or stop by one of our 4 Phoenix Valley Used car lots to see the inventory and apply for our financing to get on the road.

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