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Used Auto Loans after Credit Default in Knoxville

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Used Auto Loans after Credit Default in Knoxville

The world of automotive financing is intimidating for most drivers. In a perfect world, you could simply visit your local dealership and pay for your favorite vehicle with one lump sum of cash, but like most of us you probably need a loan to pay for your car over time. Unfortunately many drivers suffer from poor credit, often due to credit default, and this makes securing a loan difficult, but here at Farris Motor Company, we have a solution: Used Auto Loans after Credit Default in Knoxville.

Credit Default Explained

Credit is confusing for many people, which is why our financial team here at Farris Motor Company is patient and willing to answer questions. We want our clients to feel confident moving forward, and that means we take the time to offer advice and explain the process. The first and most important step is understanding your current credit score. Credit default occurs when you fail to make payments on a loan, which could be anything from a credit card bill to medical bills, and the result is a serious drop in your credit score.

Now at first you may think a default is not a big problem, but you will soon discover that even a few missed payments on a loan can have serious consequences in the future. Default leads to higher interest rates, which could potentially lead to more default and even higher interest rates. In other words, you could enter a vicious feedback loop of debt and default. To help you avoid such problems, our team here at Farris Motor Company recommends Used Auto Loans after Credit Default in Knoxville.

Offering Used Auto Loans in Knoxville

Right now you need a car and you need a car loan. Here at Farris Motor Company we have both. The best way to rebuild your finances is with a manageable loan, which is exactly what our financial department offers. Your credit score is not a fixed number, and if you make regular payments on a practical car loan, your score will improve over time. Used Auto Loans after Credit Default in Knoxville can boost your credit score, which means you will eventually be able to secure better loan rates, thereby avoiding the vicious debt-default cycle that plagues so many drivers.

There is so much more to learn about our Used Auto Loans after Credit Default in Knoxville, so please give us a call at 865-475-2071, or you can visit our automotive center at 246 E. Broadway Blvd., Jefferson City, TN 37760. Get in touch today.

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