Credit Assistance Programs

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Loan & Lease Programs

The Gerry Lane Enterprises finance department offers customers access to credit assistance and bankruptcy approval programs that help even the most credit challenged individuals obtain a vehicle. We know that not everyone has perfect credit, but that shouldn’t disqualify them from obtaining the vehicle they want. Regardless of your current credit score or credit history, Gerry Lane Enterprises wants to help!

  • Foreclosure?
  • Bankruptcy?
  • Divorced?
  • Repossession?
  • No problem!

Stop in today to learn more!

Valid Drivers License

Verify your license is not expired, revoked or suspended and ensure the address listed on your license is current and matches your residence.

Proof of Insurance

Take care to include the name of your agent and a reliable contact number. Adding a new car to your policy won’t be necessary until approved.

Proof of Residency

A recent bill for utilities, such as water or electric, is sufficient proof so long as your name is listed and matches the address given.

Proof of Employment

A recent pay stub stating your year-to-date earnings is sufficient. Self-employed individuals must provide two years of prepared tax returns.

Personal References

A reference can include anyone that knows you personally, such as a family member or friend. Include full names, addresses and phone numbers.

Phone Number Verification

Any phone number provided must be currently in service and under the applicant’s name. Prepaid cell phone numbers will not be accepted.

Additional Documents Are Required If Any Of The Following Apply To You:

  • Individuals trading in a vehicle must provide the title.
  • Individuals who have completed a bankruptcy must provide discharge papers.
  • Individual currently in an open Ch. 13 bankruptcy must provide necessary paperwork after receiving an Authorization to Incur Additional Debt from the court.

Someone with poor credit will typically have a harder time securing auto financing than a person with a stellar rating. However, drivers shouldn’t let their credit score stop them from getting behind the wheel of their dream ride. Those looking for a car loan in Baton Rouge, Louisiana, should consider joining the Credit Assistance Program at one of our Gerry Lane dealerships. Over the years, we’ve helped numerous car buyers get a good financing deal with bad or no credit, and we can do the same for anyone.

Why Bad Credit Shouldn’t Hold Drivers Back

Auto lenders use a person’s credit score to determine how likely they are to pay back their car loan. The lender may consider a spotty or limited credit history as indicating a high-risk borrower or someone who has a higher chance of defaulting on their loan. This not only makes it more difficult to get approved for a loan, but it can also have an impact on the applicant’s maximum loan amount and interest rate.

However, auto loan eligibility criteria can vary greatly from one lender to another. Traditional lenders, such as banks and credit unions, tend to have stricter credit requirements, while third-party lenders and specialty auto lenders are more willing to accommodate borrowers with bad credit. So, a person’s loan approval chances depend on which lender they apply with.

Besides looking for the right lender, saving for a larger down payment can also improve the odds of getting auto financing. Putting more money down on their desired vehicle reduces the amount someone needs to borrow. This makes it less risky for the lender to approve the loan.

Another thing someone with bad credit can do to get an auto loan is ask a family member or trusted friend to become a co-signer. It’s best to enlist someone who has an outstanding credit score and a steady source of income so that they can help secure a better deal. However, it’s important the co-signer is aware that they’ll be responsible for the loan if the borrower fails to meet their payment obligations.

We’re Here To Help

Obtaining an auto loan with bad credit can be a daunting task. Those who want to save time, hassle, and frustration should consider getting in touch with the finance department here at Gerry Lane Enterprises. The finance experts at our dealerships have many years of experience handling all kinds of auto loans, including bad and no credit loans. We’ve had a lot of success getting great financing deals for drivers with unfavorable credit. Customers can count on us to help them secure the right loan and drive home the car of their dreams.

Gerry Lane Enterprises has been in the automotive retail business for a long time, so we’re familiar with the car finance scene in the Baton Rouge area. Besides large banks and credit unions, we also work with smaller lenders that have more lenient loan eligibility requirements. Regardless of their credit score, we know exactly where to go to find each customer an auto loan that fits their budget and lifestyle. We’ll also shop around with multiple lenders to try to find the lowest interest rate.

Financing a vehicle can be challenging and stressful as it involves a lot of number crunching and paperwork. However, this isn’t the case when applying for an auto loan with a Gerry Lane dealership. Our finance professionals are here to answer any questions that a buyer may have about car financing, and we’ll work closely with each individual to help them make the right decisions. Furthermore, we’ll handle all the paperwork needed to process the loan, so all the applicant needs to do is sit back and wait until it’s time to sign on the dotted line.

We can also help customers who prefer to lease a vehicle instead of buying one. Leasing means gaining access to a new vehicle without paying the full purchase price, making it a good option for those who want to save money. It involves a lower down payment and more affordable monthly payments, but the lessee won’t own the car at the end of their lease. For those interested in leasing, our finance experts can walk them through the process and help them explore the various options.

Tips To Improve a Credit Score

Generally, auto lenders will charge a higher interest rate if the applicant has a bad credit score. To get a better interest rate, the prospective buyer should try to improve their credit before applying for a car loan. At Gerry Lane Enterprises, we not only provide auto financing services, but we also offer credit consultation through our Credit Assistance Program. Below are a few helpful tips from our financial advisors on how to raise a poor credit score:

  • Look for errors on the credit report: Any hopeful applicant should carefully check their credit report for errors that may have dragged their credit score down. If there is inaccurate information, they can file a dispute with the major credit bureaus by phone, mail, or email.
  • Pay bills on time: Payment history has a big impact on credit rating. Someone who tries their best to make timely payments on all their credit accounts should see their score improve over time.
  • Reduce credit balances: The percentage of allowable credit that a person is using (known as credit utilization) should ideally be 30% or below. If someone has a higher credit utilization rate, paying down their balances can help raise their credit score.
  • Avoid applying for new credit: Every time someone applies for new credit, they incur a hard inquiry, which can make their credit score drop a few points. Although the impact is temporary, having multiple inquiries within a short period can significantly affect a credit score.

Contact Us Today

If your credit score is preventing you from getting an auto loan in the Baton Rouge area, don’t hesitate to consult the knowledgeable and experienced finance experts at Gerry Lane Enterprises. Whether you want to purchase or lease a vehicle, our devoted finance team will work with you to ensure that you drive away with a loan you’re perfectly happy with. Contact us today to speak with our finance consultants.

Get directions to one of our locations:
Gerry Lane Enterprises 30.452999610734807, -91.12361175833801.