Working with Car Buyers with Bad Credit
Like first-time car buyers with no credit, getting approved for auto financing can be challenging for consumers with bad credit, which is why offering subprime financing through your car dealership can be beneficial for credit-challenged consumers as well as your business.
One of the key factors that will set your car dealership apart from competitors in your market isn’t how many cars you sell, but how many lives you change. When you help someone with bad credit get approved for financing to purchase a reliable vehicle, you’re not just helping them get into a new car, you’re connecting them with an opportunity to improve their credit. Since we report to the three major credit bureaus, car buyers who get vehicle financing through the Credit Acceptance program can improve their credit with on-time car payments.
Here are some ways your dealership can work with bad credit car buyers:
- Enroll in the Credit Acceptance auto finance program.
Car dealerships enrolled in our program can provide written credit approval to every customer. This allows you to serve more customers, sell more cars, make more money and help car buyers purchase an affordable and reliable vehicle that meets their needs. - Educate first-time car buyers on their auto financing options.
Being an enrolled car dealer in the Credit Acceptance program places you in the position to educate car buyers with bad credit or no credit on their auto financing options and offer them a solution to buy an affordable and reliable car on credit. - Enter every application into our proprietary Credit Approval Processing System (CAPS®).
Generate an approval on nearly every new or used vehicle for every customer, regardless of them having bad credit or no credit history. With CAPS, you can easily structure deals that are profitable to you and affordable for your customers.
Credit Acceptance works with more than 12,000 franchise, independent and BHPH car dealers across the nation to help them sell more cars and earn more money. Last year, enrolled dealers earned nearly $4 billion in total funding and more than $185 million in Portfolio Profit.
If your car dealership wants to increase its car sales by offering credit approval for car buyers with bad credit or no credit, simply fill out the form on our website to learn the benefits of becoming an enrolled dealer in our auto finance program!
