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How to Get a Car with Bad Credit or No Credit in Philadelphia?

One misconception is that if you have bad or poor credit you wont be able to get a vehicle in Philadelphia, then it is impossible for you to get approved for a car lease even when you are able to afford the payments.  That’s just not true.

However, bad credit does mean that you will most likely have to work harder to get a car lease.  Credit is defined as a company giving you money or goods now without payment, due to your perceived ability to pay them back later.

The Fair Isaac Corporation, or FICO, is the group that issues credit scores based on your previous credit worthiness that was reported by companies with whom you have done business.  This FICO score is used by banks and companies in order to determine how much credit to give you or if they will even give you credit.  In this day and age of frequent layoffs and poor minimum wages, companies are more inclined to work with people who have less than desirable credit, companies like are able to help this customers, good hardworking people with less than perfect credit.


Several things are factored in to determining whether or not a company will give you credit.  They look at your FICO score, your employment history, how much money you have for a due at signing, and your current debt-to-income ratio.  In the other hand, companies like will base the qualification process in the ability that the customer possesses to afford the vehicle, here with a minimum of $1 dollar due at signing somebody can start rebuilding their life.


One of the most important factors in your credit approval is your FICO score.  All FICO scores range from 300, on the low end, and 850, on the high side. If you consider that your credit is less than 500 and would like to find out if you can get a vehicle then you should “click HERE”and find out in no more than 24 hours.   These credit scores represent to the lenders exactly how much of a risk it is to give you a loan.  For a car loan or a lease, a credit score below 620 is considered bad credit.  If your FICO score is below 600, then you will have a little work ahead of you in order to secure a car loan or the leasing of a car.


When it comes to employment, you must have a solid history to help a company to overlook a bad FICO score.  Some good people have unfortunate circumstances that happen to them.  A solid history is a history where there are no major unexplained gaps in employment.


If you have what is considered as bad credit, then a higher down payment can boost your car loan application and the company will most likely ask for a higher down payment unless you visit a place like like we mentioned before and you could get a vehicle with as little as $1 dollar due at signing and $75.00 a week.


A down payment or due at signing is like a sort of insurance that a company has that you will continue to make timely payments.  You will have more to risk because you will lose your down payment and your car.  Be sure to save of a good amount of money before you apply for a car loan.


A company looks at your debt-to-income ratio as another important factor.  Your debt-to-income ratio is a percentage of your income each month that goes towards paying your bills.  The company wants to see how much money that you will have to pay their loan back.


You can get approved for a car loan or a lease even if you have bad credit.  The major factors that a company will look at are your FICO score, employment history, down payment, and your debt-to-income ratio.  Remember if you think you fall short in one of those factors; try to make all of the other factors solid before you apply or just visit and avoid all the hassle.

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