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Need to Borrow Money to Buy a Car? Things aren’t what they used to be.

by Admin - Posted 7 months ago

There’s no denying it, times are tough these days. Rising inflation and sky-high prices on the normal items you need to get through the week, like gas and groceries, has almost everyone hurting in the pocketbook. To get by, many people are turning to money lenders for loans to buy the things they need. But unfortunately, the world of lending has changed dramatically over the last couple of years.


There’s a whole generation of people these days who are used to having easy access to credit. Chances are, if you were born after 1991, you haven’t experienced a down economy (like the one we have now) as an adult consumer. In the past, it was somewhat easy to be accepted for a loan. And if you didn’t like the conditions for the loan you were being offered, chances are you could find several other options to choose from. Today, loans are much more difficult to acquire. Lenders are more selective of who gets approved, making applicants prove their financial responsibility by demonstrating work history that guarantees their ability to make on-time payments.


This is all fine, unless you’re one of the millions of car shoppers without a lengthy work history, or maybe things out of your control happened and ruined your credit score. If you’re in this boat, qualifying for a loan to get the car you need could be a huge hassle.


While troubles getting loans approved for their customers combined with other issues are driving many dealerships to close their doors for good, it’s business as usual here at Cincinnati Auto Credit. How do we do it? First off, we’re still here because we’ve been around for so long. We opened our doors in 1987 and have seen our fair share of ups and downs, surviving through the worst of it. Our connections run deep, allowing us to keep a full inventory throughout the used vehicle shortages that put so many others out of business. 


Second, is our in-person approach to our customers. When you apply for a loan at the big dealerships, you’re not dealing with someone face-to-face who is going to listen to your situation and make a judgment call based on their gut feeling. Most of the times you’re up against a computer algorithm who uses sheer numbers and data to make a cold, calculated decision about your chances of being able to make your payments. Have a special circumstance that might’ve thrown your credit score for a loop, when it’s normally much better? Maybe you’re just getting started out and don’t actually have any established credit yet? Good luck.


When you come to Cincinnati Auto Credit, you’re not treated like a credit score. You’ll deal face-to-face with the decision makers that can approve your loan. They’ll listen to your situation and help you figure out how much you can afford. And you’ll work with the same people until your contract is complete.


If you’re in the car market and looking to get a fair shake on a financed vehicle, we hope you’ll stop by one of our locations today and give us a chance to give you a chance!