How to Get a Car with Bad Credit
Derby drivers often wonder how to get a car loan with bad credit, and if they can get one from Don Hattan Dealerships. The answer to that is yes! Our finance team is here to help you figure out how to get a car with bad credit, and is ready to work with you so you can find a new-to-you car, truck, or SUV. To see how you can get a car loan with bad credit from Don Hattan Dealerships, check out the information below!
How to Get a Car Loan with Bad Credit
Our finance department is here to make it easy for you to secure a car loan, even with a bad credit score. All you have to do is apply for financing online to get started and then work with our finance experts to figure out a payment plan that works with your budget.
What Steps to Take to Get a Car Loan?
If you’re thinking about taking out a loan even with bad credit, there are some ways that you can get the best options available to you. Starting with:
Determine how much you can afford to pay
This should include more than what you can borrow, because also registration fees, car insurance, maintenance, and more.
Make a bigger down payment if possible
A larger down payment will help lenders see you in a more favorable position. This also means you have a small loan balance to pay, so lower monthly payments and less interest paid.
Try to clean up your credit report before applying for a loan
If you see any errors in your credit score, dispute them before they can damage your credit more. Try to begin paying off any debts as well, as they can raise your credit score more than paying them off in one go.
Be honest about what kind of car you should buy
Sometimes, it’s best to hold off on your more expensive dream car for now and go with something that is more affordable then work your way up.
Shop around with lenders
Just because one lender approves you, doesn’t mean others won’t. Apply to a handful of lenders to compare rates.
Ways to Improve Your Credit Score
Most El Dorado drivers don’t know this, but taking a car loan out when you have bad credit, and meeting your monthly payments, will increase your score faster and more reliably. Meaning that the next time you apply for lending, you’ll have access to a higher score, and a lower interest rate on loans and credit cards.
Don Hattan Dealerships is Here to Help You Learn How to Get a Car with Bad Credit
Now that you know how to get a car loan with bad credit, let Don Hattan Dealerships help you find the loan and vehicle for you. Contact us today to schedule a test drive through Newton in a new-to-you vehicle. You can also trade-in your vehicle, so make sure you value your trade online, so you know how much of a down payment you need to provide.