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.

How Can You Finance a Car with Bad Credit?

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!

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