Bad Credit Rim Financing
Whether you want a new set of rims or a complete tire and wheel set, we can help. At Loan Monkey, we work with an extensive network of lenders that can often get you approved when others say no. The quote takes just a few minutes and you will get your answer just as quick. Best of all, it is free to submit and you are under no obligation.
Why Work With Loan Monkey
Simple, because you need to get approved fast and your credit is less than perfect. We can help you get an approval by giving you access to an extensive loan network. More lenders equals more shots at getting an approval. Here is how the process works and how you can finance rims and tires with bad credit.
Submit Your Quote
The first step in the process of getting you your rims and tires is to fill out the quote form at the top of the page. Don’t worry, it won’t take all day. Most people can complete it in just a few minutes. All you need to enter is some pretty basic information and your bank account so that your lender can send you the money for your wheels.
Review Your Offer
Once you submit your information, it will go to the lender network. It will travel securely from lender to lender until one is found that wants to make you an offer. This all takes places very quickly so you can potentially get your approval ASAP.
Speaking of approval, it is the large network that makes it easier to get approved. If you apply with just one lender and get denied, it’s game over. With our network, your information keeps going from lender to lender until you get approved or run out of lenders. It makes the process of getting a wheel and tire loan much easier and faster.
Accept Your Offer
If you like the offer that you get, you can accept it and your lender will deposit the money directly into your account as soon as possible. Then, you can take the money and pay for your rims and tires with cash. This means that you are not limited to just one wheel store. You can shop around for the best price and for the perfect rim. Get exactly what you want for the best price.
Why Not Finance With The Rim Store
You might think that the best option is to finance with the store that sells the wheels and tires but this might not be the case. Consider the following.
If you go with an outside finance company, you can shop for your wheels and tires wherever you want. You do not have to limit yourself to what the store that accepts your bad credit offers. This means that you can get the exact rim that looks best on your car or truck. Also, because you can shop around, you could easily save 200 dollars to 400 dollars on the purchase price. No inflated price tags, you can get the best deal.
If you shop the tire store, they have one finance company that they work with. If you don’t get approved with them, you are done. Our loan network is different. If one lender decides not to finance you, your quote form goes to the next one. This continues again and again until you get the approval for your rim money.
No Claim On Vehicle
A mechanics lien is something that gives a creditor a right to your vehicle if you do not pay. A wheel and tire store could potentially put a claim on your vehicle if you miss a payment. The loan they offer you would have the wheels as collateral and they could possibly get the right to seize your vehicle.
With an installment loan from one of our lenders, there would be no security interest. In fact, they have no idea what you are buying with the money and don’t care. You could be financing a dog for all they care. This means that they could not put a claim on your car or truck.
Ability To Shop Used
Since your lender would deposit money right into your account, you could shop for rims on the used market. This could save you a fortune over the cost of new wheels.
Wheel & Tire Finance Questions
If you have questions about your potential installment loan for wheels and tires, we have answers. Take a minute to read the FAQ’s.
- How long will it take to get my money?
Your lender may be able to get your money to you as soon as the next business day. So, if you get approved on a Thursday, you could be shopping for rims and tires on Friday.
- Do I have to spend all of the money on rims?
No, our lenders would just be making you an installment loan. You can use the money on whatever you like. Spend all or part of the money on your wheels and tires.
- Is bad credit going to be a problem?
Our lenders are used to working with bad credit so it is often not a problem. Keep in mind though that your interest may be higher with poor credit.
- Can you get me guaranteed approval?
No, we are not a lender. It is up to a lender in out loan network to approve you.
- What will my payments be?
That is up to your lender to set. When you get an approval, they will send you details of your loan. Be sure to note the amount of the payment, the total amount of the payments combined and your total cost of credit. This is the amount that the loan will cost in interest and fees.