Here at David Dearman Autoplex we are a reputable Buy Here Pay Here dealership in Mississippi proudly serving Gulfport, MS and anywhere else in a 200 mile radius of Gulfport, MS. Your credit score will NOT disqualify you for a bad credit auto loan. We have an internal scoring system to calculate down payments and credit score is only one of 18 different criteria.

When you think “Buy Here Pay Here, Think David Dearman Gulfport”. We are the original buy here pay here car lot of South Mississippi. Easy Approvals because WE ARE THE BANK.

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Here are the requirements for financing:

  • *Proof of Income… LEGIT Job letters and award letters for fixing income will work. Bank statements will work. Check stubs always work
  • *Proof of Residency… LEGIT utility bills, bank statements, address on license, etc…
  • *Valid License…
  • *Proof of Insurance before you leave 

We can always make exceptions based on higher down payments. The higher the down payment, the lower the risk for us and the lower your notes will be so ALWAYS try to INVEST AS MUCH AS POSSIBLE IN YOUR DOWN PAYMENT!

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Getting Financed for a used car with bad credit doesn’t have to be a bad thing.  There are still a few of us good car dealers that care whether or not we can help someone with no credit or bad credit get into a nice late model used car, truck or SUV.  Bad things happen to good people each and every single day.  Especially here in South Mississippi.  

According to https://wallethub.com/edu/average-credit-scores/25578/ the average credit score in Mississippi is just 642.  We share with the other Southern States by having the lowest credit scores in the country.  We are just average working class folks down South and statistics like this make us look a lot worse as a group than we actually are.  How does having a low credit score affect your ability to get financed for a car?

At David Dearman Autoplex in Gulfport, luckily credit score is only one of 13 factors that we look at when we are trying to get you financed for a used car.  So whether you have a 800 credit score or a 400 credit score, it’s only a very small portion of the actual equation.  The credit score will however, make a bit of a difference when determining your interest rate.  Our highest interest rate for financing a used car is 19.99%

Credit score alone is never enough to properly underwrite a deal.  Someone could have a 700 credit score but have NO CREDIT!  I have often seen this with college students.  They come in to buy a car and when I pull their credit they will have a 750 credit score from deferred student loans.  This person would need a rather high down payment or a co-signer because they haven’t truly established any pay history.  On the other side, I have seen someone with a 580 credit score that could buy anything on the car lot due to them having four paid out auto loans with perfect pay history.  Everything is relative so it’s best practice to just come in and have a conversation with me about your situation.  

It is common for me as a finance manager to see customers come in trying to trade in their vehicle they bought with bad credit from another dealer and for me to see that they were contracted at a 28.75% interest rate.  That is ENTIRELY TOO HIGH and I would strongly suggest that you steer clear of used car dealerships that charge high interest like that.  Another common thing that I am seeing spring up everywhere is “rent to own” or “rent to buy” car buying.  I will just say that I think it is a bad idea and you can read up more on this topic on an earlier page I wrote entirely dedicated to why I believe that “lease to own is a bad idea”. Here is the link:


Financing a used car with bad credit will allow you to rebuild your credit if it is financed with a legitimate car dealership that takes the time and money to properly report your payments to the Credit Bureau.  Typically after 18 months of good timely payments and if nothing else bad happens on your credit, you could very well be able to go down to the a credit union such as www.kfcu.org or https://www.gulfcoastcommunityfcu.com and refinance your bad credit auto loan.  David Dearman Autoplex uses our very own Southern Auto Credit finance company and there are never any pre-payment penalties.  We do SIMPLE INTEREST AUTO LOANS!!  You won’t pay interest on the balance if you trade your car in elsewhere or pay it off early.  You could even double your payments with us each month and end up saving a good bit of money over the long term.

Factors other than the interest rate that are helpful in making your approval better or worse for buying a car with bad credit or no credit include things such as 

  • JOB TIME.  Longer job time shows good stability and we like it.  Time on job is more important to me personally than your credit score!
  • INCOME.  Higher income typically will help in budgeting you for a new car.  Lower income will also help me to not put you in a car you cannot afford.  We want you to be comfortable with your car note.
  • RESIDENCE TIME.  This is a factor because it lowers my risk.  I know I can find you.
  • PREVIOUS CUSTOMER.  We LOVE our previous customers at David Dearman Autoplex!
  • DOWN PAYMENT.  Obviously they higher the down payment, the lower the risk to me and the lower your car note will be!
  • NUMBER OF REPOS. We will still finance you with 3 repos on your credit BUT you will more than likely need additional money down.
  • NUMBER OF PAID OFF CARS.  If you have shown good pay history on other cars chances are you are going to on this new car loan so we certainly are willing to help you get financed here at David Dearman!

The list above are only a portion of the whole factor sheet that we use but I would say that they are probably the most important factors a car dealer or bank uses when they are approving you for car financing.  

Everything is relative though so schedule a time and come and talk to one of our sales professionals at David Dearman Autoplex on Pass Road.  Our goal is to get you financed on a nice low mileage used car truck or SUV that will outlast your car note.  When we hook up and do this everyone leaves happy and our chances of doing business again in the future goes up tremendously.  David Dearman has built a solid reputation in Mississippi as one of the fairest car dealers in the state!  We have well over 10,000 previous customers and a good portion of them have bought several vehicles from us over the years.  

We are here to help so call 228-897-6006 to schedule an appointment.  Be sure to bring the following:



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