When you have less-than-perfect credit, everyone seems to have an opinion on what you should do. Your neighbour tells you to buy a "beater" for cash. Your coworker tells you that you can't get approved after a bankruptcy. The internet tells you that you need thousands of dollars down.
There is a lot of misinformation out there. At Bruce Auto Approvals, we want to clear the air. Let's bust the 4 biggest myths about buying a car with bad credit.
✅ The Reality
While a down payment certainly helps lower your monthly costs, it is rarely a strict requirement. Many of our lending partners offer $0 down payment programs. We focus on your ability to make the monthly payment, not how much cash you have in the bank today.
✅ The Reality
A $2,000 car usually comes with $2,000 worth of problems. Cash cars often lack warranties and break down when you need them most. More importantly, buying with cash does nothing for your credit score. By financing a reliable, inspected vehicle, you get peace of mind and you rebuild your credit history with every payment.
✅ The Reality
This is one of the most common fears we hear, and it is simply not true. We work with specialized lenders who understand that life happens. We have specific programs designed to help people get into vehicles while they are in a proposal or shortly after a discharge.
✅ The Reality
Be careful! Every time a dealership runs your credit, it shows up as a "hard inquiry." If you go to 5 different dealerships, that can hurt your score significantly. When you apply with Bruce Auto Approvals, we pull your credit once and shop it internally with our network of lenders to protect your score.
Don't Let Myths Keep You Walking
Every day you wait is another day you could be driving a reliable vehicle and improving your credit score.
Let us show you the reality of what you qualify for—no judgment, just solutions.