How a Bismarck, ND Pre-Owned Car Dealer May Offer Financing for Fair Credit

by | Mar 22, 2022 | Automotive

Some consumers try to buy a pre-owned vehicle from a manufacturer’s dealership and leave disappointed because the loan application was denied. They might not realize that many independent dealers offer financing through third parties and work with several organizations. This increases the chance to buy pre-owned cars in Bismarck, ND since some of the financing companies may have less stringent requirements.

Several Lending Companies

By having several lending companies in the running, dealerships can sell vehicles to customers whose credit isn’t stellar. Individuals and dealership owners both can feel frustrated when customers want to buy pre-owned cars in Bismarck, ND but are turned down for a loan. This is less likely when the business does not rely on only one financing company, such as an automotive manufacturer or the largest national banks.

Tumultuous Economic Times

When the country’s economic situation became tumultuous during the pandemic, many U.S. residents struggled financially. Paying credit card bills and loan payments late can decimate a person’s credit score. It takes a long time for the score to recover, even after the person has regained solid financial footing and no longer has trouble making timely payments.


These dealerships are committed to doing whatever they can to complete a successful transaction. Lending institutions that approve applicants with fair credit scores may charge higher interest rates, so customers must take this into account. They might ask whether the lender is willing to refinance to a lower rate after a certain period of time.

To check out the inventory of a dealership that works with more than one lending company, consumers may visit Torgerson Auto Center.

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