In terms of car financing, increasingly more applicants are now being rejected by finance institutions and car dealers. Fortunately, the car financing process has been moving forward. Historically, dealerships have been unable to sell cars to customers with a bad credit score, so lately dealers have been offering auto loans on site.
Unlike a regular credit union or bank, they aren’t going to instantly turn you down when your credit rating isn’t perfect.
You shouldn’t count on a vast array of cars and trucks. The vehicles you qualify to finance will likely be contingent on your financial circumstances. 
Take the amount of income you bring in every month and divide by ten, and don’t shell out more than this amount for car loan payments. For most Champaign locals, who make $20,729 per year, this equates to paying around $173 a month. Car dealers often have an undesirable practice of talking you into spending beyond what you should on a car, truck, or SUV, so be sure you continue to keep the 10% concept in mind. If possible, commit even less than 10%.
The Value of Pre-Approval
Many in house financing car lots in Champaign, IL, approve applications on the web. We’ve got comprehensive connections with car dealerships that are able to approve you to finance the car you need – today!
Approval Requirements
The dealerships that take bad credit in Champaign, IL will need:
- Proof of Income
- Down Payment
- Drivers IL License
- Proof of Employment