Car Buyer Labs

Car Buying Advice, Tips, and Reviews

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Beware of these 5 Things when Shopping for No-Credit Cars

Having poor or no credit sucks – there, I said it. Whether it’s your fault or not, having little or bad credit can be a huge roadblock to a lot of things, including getting a decent vehicle. So when you end up shopping at no credit car lots in Indianapolis, you’re left with far fewer choices than other people, and you probably feel like you have to go with whatever you can find. Often a salesperson will make it sound like they’re doing you a favor offering you a vehicle with outrageous interest and expecting you to smile while you get the worst deal in town.

Fortunately, there are some excellent options out there – particularly if you’re willing to go beyond traditional shopping methods and look online. However, if you do want to stick with dealerships that offer deals for people with little or no credit, then make sure you are wary of these things. Any one of them is a good sign that you should consider going somewhere else, and if you run into more than one of these at one location, then run away as fast as you can! Seriously, you deserve a better car-buying experience, no matter what your credit looks like.

#1 – Horrible Interest Rates

One of the first things you need to watch out for when looking at no credit car lots in Indianapolis is the interest rates that they offer. In general, it’s accepted that if you have little or no credit, then any loan you can get for a vehicle or other major purchase will have a pretty high-interest rate on it. This makes sense when you think about it from the bank’s perspective: people with no or poor credit are an unknown or a risk when dealing with a loan, so the higher interest is there to protect their investment. From your perspective as a customer, it can be very frustrating and often seems unfair.

At the end of the day, any loan you get for a no credit car loan at a lot in Indianapolis is going to have higher interest than a loan if you have excellent credit. Some dealerships, however, that offer loans themselves will do so with interest rates that are truly horrendous. Paying a few percentage points higher than someone with good credit is one thing – but there are lots out there that specialize in predatory loans with exorbitant interest rates. To be honest, it’s completely disgusting that such dealerships take advantage of people like that and you should never feel like they are your only solution.

#2 – Poor Inventory and Options

There are some no credit car lots in Indianapolis that are not run as a proper business that puts their customers and their customer’s needs first. Instead, they are designed and managed with a single goal: to make as much profit as possible off the people who come to them looking for help with finding a car. Because turning over vehicles is all they care about, they often have an inventory that is of poor quality and lacking in many options for you as a customer.

No matter what your credit looks like, you deserve to have lots of different vehicles to choose from, even if you are looking for a used car or truck. The used vehicle market is huge and incredibly successful in this country, so there is no excuse for you to feel like you have to pick something that looks like it is on its last wheels just because you don’t have much credit history. If you can’t find a no credit car lot in Indianapolis that offers a good selection of vehicles that are in excellent condition, then consider looking elsewhere – perhaps online – for your purchase.

#3 – Predatory Salespeople

This is one of those things that you might not realize you’re dealing with until it’s too late, which is why it’s important to keep it in mind whenever you go car shopping. Sadly, there are some no credit car lots in Indianapolis that live up to the bad reputation that so many used car dealers and their salespeople have earned over the years. Rather than working with their customers to get exactly what they need, these salespeople instead push their own agendas and goals – trying to sell vehicles that they want to get rid of.

These salespeople are very good at what they do, which is why it can be so hard to tell that it’s happening. Watch out for any time you feel pressured to buy a vehicle, especially one you don’t particularly want. This can be something as simple as a salesperson telling you someone else was interested in a particular model or mentioning that they’re “not sure they can give it to you at such a low price if you come back.” Always go into car shopping with an idea of what you want, and never let a salesperson move you away from that and into something they want to sell.

A car salesman at a no credit car lot is showing a clipboard to a buyer.

#4 – No Protection for Your Investment

Buying a car is an investment. It doesn’t matter if you’re getting a brand new BMW or a used Chevy; you are paying a good deal of money for your vehicle. That means there should be some kind of protection for your investment – even with used cars and even if you don’t have excellent credit.

A lot of no credit car lots out there in Indianapolis don’t care about your investment, and all they want is their money right now. They don’t offer warranties or any other type of protection for you as a customer if something goes wrong with the vehicle once you drive off the lot. You deserve to have your investment covered in some way, and if you’re completely on your own after you sign on the line, then that’s a big concern.

#5 – A Lack of Transparency

Here’s something that you should always have in the back of your head and watch for from the moment you walk onto a no credit car lot in Indianapolis. Overall, you should expect transparency from the staff and salespeople that you meet and talk to at any dealership. That means that they should be able to answer all of your questions and explain what is happening every step of the way. It also means they should provide vehicle history reports on every car they have, if used, and let you know about any and all deals or sales going on.

There are many no credit dealerships, however, that don’t care about transparency or putting your needs first. They make their money through deception and pressuring you into a sale without giving you all the information you need to make an informed purchase. You deserve better than that – you deserve a better car-buying experience.

There’s a Better Way!

Buying a car online might seem strange at first, but purchasing a vehicle is no different than anything else – and online shopping has become easier than ever before. Make sure you work with a reputable website that provides you with all the information and tools you need to make an informed decision and get the best deal you can. A good online dealer makes it easy to avoid all the dangers of bad no credit car lots in Indianapolis – plus you can search their inventories and figure out financing from the comfort of your own home!