You're in Chicago looking for a bad credit car dealer. You have bad or no credit and Car Dealer after Car Dealer is wanting money down. To buy a car with bad credit, with no money down, you need to know a few things...


First, lets handle some of the misconceptions that "experts" out there are telling consumers...

"The most common reason for money down is because it adds profit to the sale."

When trying to buy a car with absolutely no credit at all or even bad credit... Some finance companies, in order to lower the risk, will require to only finance the amount of the vehicle at 100% loan to value. For example: A vehicle with a black book value of $10,000 would have to be finalized at $10,000 after tax title license and doc fees... In layman's terms, a dealer would have to sell the vehicle for less than what the car is worth in order to cover the tax title and license fees if the buyer is looking to do so with absolutely no money down.

Is this possible? Yes! If the buyer has a stable job with decent income, most finance companies will attempt to take on a loan with no money down even if your credit is bad. 
What happens to the no money down?  There are a few options like new vehicles with new car rebates and first time certified pre-owned programs. Which means if the vehicle is new or certified, it could lower the risk to even it out. 

"Most people think that if they have bad credit, they have to use the financing offered through the car dealership"

Of course you could go to your local credit union or bank... But remember, by financing through a 3rd party will assure that the only thing that is used as collateral is the vehicle itself. Odds are if you fall behind on payments, they could go after your personal accounts or other assets you may have. Financing someone with poor or no credit is not an easy thing to do. Most dealers won't even want to put the work in to do so. If you have a good relationship with your banker or credit union, than try to get a loan with them. Otherwise, put the relationships our Finance Specialists have with our lenders to work for you.

The truth is this... You can buy a car with bad credit with no money down and also with lower interest rates by simply finding a vehicle that is within your means and is appealing to the finance company. If you know where to look and prearrange your financing, then you can have the ability to walk into Rogers Auto Group, pick out the car of your choice based on the amount and terms (miles, year, loan to value) the finance company pre-approves you for and drive away with your new car. If you have exhausted all your avenues, let the Bad Credit Specialists at Rogers Auto Group in Chicago work for you.