Can You Finance a Car with Bad Credit?

December 22nd, 2018 by

Hands Dealing Out Money
If you have a limited credit history or a poor credit score, you might be wondering how to finance a car with bad credit, or, “Can I get a car loan with bad credit?”. At Green Dodge, yes, it is possible, and our finance team is here to help you through the car buying process. Apply for Financing Contact Us

How Can You Finance a Car with Bad Credit?

Are you trying to get financing for a new or used car? While securing an automotive loan with little to no credit is more challenging, it can be done. Our finance team is here to help you through the process and provide you with options. With our professional help, we’re confident you’ll be able to secure a bad credit car loan. To get the process started, you can apply for financing online from your home in the Chatham area.

How to Get a Car with Bad Credit

If you’re ready to buy a car in spite of bad credit, follow these steps to ensure you’re in the best possible position to do so.

  1. Figure out your budget, as well as how much you can reasonably afford to pay upfront and each month.
  2. Try to set aside money for a bigger down payment, if possible, to offset the monthly payment costs.
  3. Work on improving your credit as much as possible before applying for an automotive loan.
  4. Be honest with yourself about what kind of car you should buy, and don’t purchase a vehicle that goes beyond what you need. A car or truck with all the bells and whistles is great, but if you only need the standard of features of the base trim, that’s ok.
  5. Ask questions throughout the car-buying and financing process to ensure you’re getting the best deal and fully understanding each step.

Buying a Car can Improve Your Credit

While it may seem counterintuitive to take out a car loan with poor credit, you can actually improve your credit by doing this. Being approved for a loan and making regular monthly payments on time can increase your credit score. This gives you more opportunities down the line for lower interest on loans and credit cards.

Car Key and Pen on Contract
Hand putting money into piggybank

Finance a Car with Bad Credit at Green Dodge

Ready to purchase that new car, truck, or SUV? Explore our inventory online or in person in Springfield. You can also find out how to save money by figuring out the trade-in value of your current vehicle and taking a look at our new car specials. Contact us with any questions!

More From Green Dodge

  • How Much Can a 2021 RAM 3500 Tow?

      Are you looking for a truck that tow like a boss and dominate any Chatham worksite? If so, you’re in luck! The new RAM 3500 has everything you need to handle some serious workloads and look great while doing it. How much can a RAM 3500 tow? Properly equipped, the maximum 2021 RAM 3500…

  • How Much Can a 2021 Dodge Durango Tow?

      The 2021 Dodge Durango is the latest update to one of the most powerful SUVs on the market in Springfield. With the right equipment, the 2021 Dodge Durango towing capacity reaches up to 8,700 pounds. Here, Green Dodge covers the Dodge Durango towing capacity across its engine options and more information on the performance features…

  • How Much Can a 2021 RAM 2500 Tow?

      The 2021 RAM 2500 tow has a maximum towing capacity of 19,680 pounds! The new RAM 2500 carries with it enough power to handle anything work throws at you or you throw at it while adventuring near Chatham. Learn about the 2021 RAM 2500 engine specs and get more info about its towing features…

Posted in Finance