Advice for Car Buyers with Poor Credit

The good news is, there are many lenders out there who finance bad credit and want your business. Many lenders, have various kinds of bad credit auto loans that can get you into a new ride despite your current financial situation. In addition, there are many types of things you can do make it easier on yourself as well. The following suggestions below are top pieces of advice for used car shoppers who have challenged or bad credit. These suggestions are actually based on real experiences of people with bad credit who worked closely with us over the past years. We have been offering challenged credit customers options for several years and you might just be our next customer. Hopefully, these pieces of advice help make the process easier on you so you don’t wind up making big mistakes that could have ultimately been avoided.

Do What You Can to Put Down a Large Down Payment

This may be easier said than done especially if you are already struggling to pay your bills. But in the long run you will end up paying lower payments on your loan. Some used car loans for customers with bad credit can have extremely high interest rates so the more you can put down initially, the better off you’ll be. We do, however, understand that saving money is hard, no doubt about it. Whether you have a family and kids, are paying back your college loans, or simply don’t have that high paying dream job, there is always a reason why saving money can be very difficult. That said, if you can find little ways to save some money each week, you’ll quickly have enough to make a substantial down payment on the car you want, which means you’ll need to finance less of the total price. Your payments will be less and you’ll be more likely to start saving more money because your payments will be within your budget each month.

When Shopping for a Used Car, Look At Ones You Can Easily Afford

While it can be incredibly tempting to check out the latest sports car or luxury model on the lot, you must resist the temptation to fall in love with a car that’s going to cost you more than you can afford. By taking a long hard look at your monthly budget and figuring out what kind of payment will actually work for you given all your other commitments, you’ll easily be able to find a used car that fits your budget and needs. If you visit a dealership that tries to pressure you into looking at cars out of your price range, walk away.

Do What You Can to Improve Your Credit Score

It’s up to you now. You know your credit score isn’t great, so if you want it to get any better you need to do whatever you can to start making it healthy again. One of the ways to do this is by simply making every bill payment on time, every time, even if it hurts! Every late payment is just another ding on your credit history that lowers your score further. If your credit is in really bad shape, try to at least pay something on each account every month by the due date to show you’re making an attempt to improve things. And don’t forget to factor in the cost of maintenance into your budget, because every car needs to be properly maintained if it’s going to last. When you already have bad credit, the worst thing you can do is wind up with a car you can’t afford and end up having it repossessed.

Buy a Reliable Used Car That Will Stand Up Well Over Time

In the long run, you’ll be much better off if you focus on used cars that are reliable, don’t have too many miles on them, and are known for having lower overall maintenance and repair costs. You can easily do some Internet research at any of the big car sites such as Edmunds to find out which cars do the best over time. You can also stop by Swanson’s Cars & Trucks (West of Warsaw on US 30, Near Atwood) and talk to us – we know used cars like no one else and would be happy to advise you about which cars are the best.

Purchase a Service Contract and GAP Insurance if it Makes Sense

One things we’ve seen happen is this: A person with bad credit gets a used car, but then gets hit with a major repair bill they simply can’t afford. The car is repossessed and the customer is back at square one. This is when it might make a lot of sense to protect your purchase with a service contract and/or GAP insurance, so you’re covered when something unexpected happens.

Even if your credit is challenged, there are plenty of lenders out there who will compete with each other to give you a bad credit car loan. At Swanson’s Cars & Trucks, we have a network of banks that includes some of the top auto lenders in the industry. We can and will help! If you are ready to apply, please submit a quick application on by clicking the following link:

Feel free to contact us directly at (574) 527-2225 with any questions or stop by 2209 N 650 W, Warsaw!

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Vehicle Spotlight: The 2015 Ford Escape is Fancier than Ever!

Ford has never been afraid to rock the automotive industry with their compelling design changes, technology offerings and leading edge fuel efficient engines. It’s always been their goal to offer the latest and greatest models and system functionality, yet, remain somewhat affordable–the working person’s vehicle of choice.


When Ford unveiled the new Escape design in 2013 emotions were initially mixed, but one thing was for sure, consumers were on board with the (optional) fuel-saving EcoBoost engine and Microsoft SYNC Bluetooth radio.

Reviewing sales numbers over the last five years, certainly paints a nice picture, with over 20,000 Ford Escapes being sold monthly. It’s likely these numbers will remain consistent or even increase as the market begins to shift in Q2. (Reference: Ford Authority)

The 2015 Ford Escape hasn’t undergone a drastic change, but the design and many of the new features are appreciated:

  • Voice Activated Microsoft SYNC/ Sirius XM Bluetooth Radio
  • Optional intelligent 4WD system with torque vectoring control is available with theEcoBoost engines (Estimated 33 HW/MPG)
  • Larger Digital Display Screen with Back-Up Camera
  • Heated Front Seats
  • Towing Capability

Pictures Tell the Story:

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Images Provided: Swanson’s Cars & Trucks


Benefits of Buying Pre-Owned vs. New

Should you buy a new car or a used car? That is the question. It’s an age old dilemma that every car buyer has to face, and neither answer is right or wrong. It all depends on your wants, needs, budget, and appetite for risk.



Today, let’s take a look at some of the advantages of purchasing a Pre-Owned Vehicle:

  • Huge Savings! You don’t absorb the (rather quick) costly depreciation.
    • Sometimes as much as 20+% the moment you drive off the lot & as much as 30% by the end of the first year.
    • Once you understand how car depreciation sucks money directly out of your pocket, you can save boatloads of cash over your lifetime.
  •  Reliability. Vehicles are more dependable now than they’ve ever been.
    • All vehicles require maintenance such as oil changes, tires and tire rotations, brakes, etc. However, vehicles are also delivering in excess of 150+k miles before needing considerable repairs.
  • Warranties. There are stellar warranty options that serve to protect you when purchasing a pre-owned vehicle.
    • Special warranty programs in place that cover all major costs/repairs up to four years with unlimited miles (for pennies on the dollar!).
  • Lower Insurance Rates. When a car is worth less, it costs less to insure when you’re buying collision and comprehensive coverage.
  • Benefits of Safety & Technology Features:
    • You will still get all of the latest and greatest safety & technology resources when purchasing a vehicle that is a couple of years old, and without the hefty upfront costs.
  • Registry Renewals are Less Expensive on a Pre-Owned Vehicle.
    • The cost of renewing a vehicle goes down every year, this is another way that you will continue to save money by buying pre-owned.

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Depreciation is the silent killer to your automotive budget. Unless you plan to drive the wheels off of the car, don’t care about trade in value, or depreciation–buying pre-owned is likely the best option.

Swanson’s Cars & Trucks

2209 N 650 W, Warsaw IN 46580

(574) 527-2225