How Can I Get Car Financing with a Bad Credit Score?

car finance paperwork

Here at Scott Evans Chrysler Dodge Jeep Ram, one of the questions we most often get is, “how can I get car financing with a bad credit score?” We’re here to tell you that it is possible to get car financing, even if your credit score isn’t the best. Our finance department is well-equipped with experts who can help guide Coweta County drivers on how to finance a vehicle with a poor credit score. Learn more with Scott Evans Chrysler Dodge Jeep Ram about how to get a car with bad credit.

How to Get a Car Loan with Bad Credit

If you’re considering getting a car loan with bad credit, there are some things you should get together beforehand to make sure that this is the best financial decision for you:

  1. Determine how much you can afford you to pay per month based on your budget. It’s important to consider other monthly debts you have such as rent, credit cards, student loans, etc., so financing a car won’t negatively impact your budget.
  2. If possible, make a bigger down payment. Making a larger down payment will lower your monthly payment, and possibly get you a lower interest rate. Learn about how much of a down payment is required for a car with bad credit.
  3. Try to improve your credit score before applying for a loan. Whether this means paying off a credit card, or paying down your student loans, cleaning up your credit score will greatly improve your chances of getting a loan, especially a loan with a lower interest rate.
  4. Be realistic about the kind of car you can afford. Even though that luxury vehicle may be eye-catching, it’s important to get a vehicle that fits your lifestyle and your budget.

Improve Your Credit Score

One of the great things about financing a vehicle when you have bad credit is that when you’re able to consistently make your monthly payments on time, it will help improve your credit score. When your on-time payments are noted on your credit report, this gives you more lending power for future lower interest loans and credit cards. When you decide to finance a car with bad credit, you can apply for financing online to get pre-approved and utilize the payment calculator to get an estimate of your monthly payments.

Visit Scott Evans Chrysler Dodge Jeep Ram to Finance a Car with Bad Credit!

Browse our new vehicles and used vehicles to find the car that best suits your lifestyle in Douglas County. Want an idea of a good interest rate? We have a guide on that! We even have vehicles under $10k! If you live near Villa Rica, contact Scott Evans Chrysler Dodge Jeep Ram to schedule a test drive in the vehicle that fits within the parameters of your car loan.

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