How Can I Get Car Financing With Bad Credit?

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At Larry Puckett Chevrolet, our finance team receives many questions from Prattville drivers about how to get a car with bad credit. We have good news for those looking for a bad credit car loan! Our finance team is happy to help you get a bad credit car loan. Learn more below about how to get a car loan with bad credit, and then contact us to get a great deal on a new or pre-owned Chevy!

 

 

How to Get a Car Loan with Bad Credit

Even though you’ve had some credit issues in Montgomery, that doesn’t mean you should give up on getting a new or used Chevy when needed! Below are the steps to take to get a bad credit car loan:

  • Make a larger down payment on your new ride: A larger one will show lenders that you mean business and have diligently saved money, and it might help them see you more favorably. A larger down payment means you’ll have a smaller balance to pay off and will ultimately save money on interest.
  • Try to clean up your credit before applying for a new loan: Order and review your credit reports – if you see errors, dispute them immediately! Those errors could be hurting your credit score. If you have debts, start paying them off as much as possible. Even making small payments on your debts can help raise your credit score.
  • Determine what you can afford to pay monthly: A good guideline is to keep your monthly car payment under 10% of your gross monthly income. Plus, budget for other expenses, including auto insurance, repairs, annual registration fees, maintenance, and gas.
  • Be realistic about what kind of vehicle to buy.Your focus should be financing a car that meets your needs in Wetumpka, even if it’s not what you’ve always dreamed of.
  • Shop around with different auto lenders and compare rates. Start applying for car loans. You can apply for a loan online if you do business with Larry Puckett Chevrolet.Don’t be afraid that the first lender to approve your loan will be the only one. Apply with several different lenders around Millbrook and compare their fees and rates.

You’ll improve your credit score when you have a bad credit car loan and consistently make payments on time each month. That means you’ll have more lending power and probably qualify for lower-interest credit cards and loans.

Get a Bad Credit Car Loan at Larry Puckett Chevrolet Today!

Now that you know how to get a car with bad credit, why not apply for a loan online and request a value for your trade-in? If you have questions, contact us! We suggest you explore our certified pre-owned inventory and new vehicle specials to ensure you get the best possible deal!

 

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