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

 
If you need a new vehicle to get around Massillon, but you have bad credit, don’t worry. With an understanding dealership like Spitzer Chevrolet North Canton on your side, bad credit car financing is always obtainable. If you’re wondering, “How can I get a car loan with bad credit?” read the guide below to begin your journey. Then, reach out to our finance team to start exploring your options. 

How Can You Finance a Car with Bad Credit?

Wondering how to get a car when you have bad credit? At Spitzer Chevrolet North Canton, our finance team makes it as easy as possible for Louisville drivers to secure bad credit car financing. All you have to do to get started is apply for financing online to get pre-approved and then work directly with our finance experts to figure out a payment plan that works for you.

What Steps Should I Take to Get a Car Loan with Bad Credit?

If you’re thinking about getting bad credit car financing, there are some things to try to get together beforehand to ensure you’re making the best financial decision for you right now.

• Determine how much you can afford to pay. This amount should encompass more than just how much you can afford to borrow. Think about other expenses like annual registration fees, car insurance, maintenance costs, and gas costs. 

• Make a bigger down payment if possible. If your credit isn’t great, a larger down payment will help lenders see you more favorably as a borrower. Additionally, a larger down payment means you’ll have a smaller loan balance to pay off, leading to less interest paid overall. 

• Try to clean up your credit report before applying for a loan. If you catch any errors, you should dispute them because they could be dragging your credit score down. If you have any outstanding debts, start paying them down where possible – even making a small dent can help your credit score. 

• Be honest about what kind of car you should buy. Your focus should be financing a car with an affordable payment (even if it’s not your dream car), and one that you can afford to take care of in the coming years. 

• Shop around with lenders. Don’t assume that the first lender to approve you will be the only one. Apply with a handful of lenders so you can compare the rates of those who approve you. 

Improve Your Credit Score with Bad Credit Car Financing

Many people don’t realize this, but if you take out a car loan with bad credit and can consistently make your payments on time every month, it will actually help you to improve your credit profile and credit score, giving you more lending power down the line for lower-interest loans and credit cards.

Obtain Bad Credit Car Financing Near Canton

At Spitzer Chevrolet North Canton, we know there’s more to you than your credit score. Visit us today, and our empathetic team will get to work on understanding your situation and pairing you with the proper bad credit car financing plan. Before your visit, take a moment to shop our new vehicle specials to learn which vehicles have competitive deals right now.