Used Cars Phoenix Bad Credit | Bad Credit Auto Loans Phoenix
At Jaber's Truck and Auto Sales, we offer Guaranteed Credit Approval for every customer in almost any type of situation. Regardless of bankruptcies, foreclosures, no credit and repossessions we will still be able to assist you in obtaining an auto loan. Not only will you be able to finally obtain transportation, but you will be given the chance to reestablish or establish your credit to begin with! Our Goal is to help you establish your credit and approve you when no one else will.
For more information on how financing works, please read below.
What Documents Are Typically Required to Obtain a Loan?
If unable to meet qualifications below, please contact our finance manager for possible alternatives
The following are for sub-prime credit customers. Prime customers may require none to very little of the below
Proof of Income
W-2 Employees - Most Recent Paystub with YTD and tax deductions
Self Employed - 3 Months Bank Statements
Passive Income - 3 Months Bank Statements
Cash Based Employees - Job Letter
Financing for Cash Based Employees is possible but may require a lengthy process or be contingent on extra verifications the finance company sets forth
Qualifying Proof of Residence
Bank Statement, phone bill, internet bill, credit card statement, gas bill, water bill, electric bill, etc. Must be dated within 30 days and have customer's name and address listed
6 Verifiable References
Friends, Family, Neighbors, Co-Workers. All must be UNIQUE, cannot live with each other or with you. Different addresses, different phone numbers and different names. Full name, address & phone number required.
Proof of Insurance
You MUST have a $500/$500 Comprehensive/Collision deductible on the recently purchased vehicle before leaving the lot
Some Banks/Finance Companies may require most recent Checking Account Statement and/or Phone Bill. (Phone Bill doesn't need to be in customer's name but must have customer's number and call log may be required.
For additional finance information please talk to Mike Sears at 602-944-2330
Q: What cars work best for your Guaranteed Credit Approval program?
A: Remember, most finance companies won't loan a lot of money to sub-prime credit customers. However, when you may not even be able to obtain a $500.00 credit card, I'm able to APPROVE you on car. Cars that work best for this program are typically vehicles around $4000 to about $8000. Though some cars may fall in this category, it's not Guaranteed the car you choose will be acceptable or eligible. Cars that aren't eligible or acceptable in this program would be Classic Cars, Salvaged Titles, Frame Damage or TMU Odometer as well as cars that have Market Values higher than values finance companies use.
Q: I currently have an Auto Loan and cannot get approved, can you help?
A: Yes we can. Typically the general rule is one car per one customer, we are able to help but our options are very limited.
Q: I have never had an Auto Loan and always paid cash. Little to no credit established. Am I still eligible for financing?
A: As long as you make a minimum provable income of $800/month and able to provide acceptable stipulations, you are eligible for our Guaranteed Credit Approval program.
Q: How much of a Down Payment do I need?
A: Down payment varies and is dependent upon the customer along with the vehicle.
Q: What are payments typically at?
A: Calculating exact payments are just as confusing as calculating Down Payment. On average, payments are usually anywhere from 200-400 dependent on many factors such as price, term and interest. All of this information is unavailable until we calculate risk, which is done by running your credit. However, most finance companies cap customer payments to 25% of their income.
Q: I just turned 18 and want to finance a car, can you help?
A: We absolutely can assist you in obtaining financing. However, price, income and down payment will play a HUGE factor.
Q: I don't have a printer at home, but most of my information such as Paystubs and Bills are available online
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