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

At Mark Miller Subaru South Towne, we’re often asked by our Herriman-area customers about how to get a car loan with bad credit. The team at Mark Miller Subaru South Towne is happy to get you the information you need to get you the very best vehicle for your lifestyle! Our finance team is happy to help you figure out how to get a car with bad credit. Learn more about securing bad credit car loans, and then get a great deal by taking advantage of one of our finance vehicle specials.

How to Get a Car Loan with Bad Credit

Are you curious about how to get a car with bad credit? Well, the team at Mark Miller Subaru South Towne and our finance team aim to make it as easy as possible for our Midvale-area customers to secure a bad credit car loan. The first step in the process is to simply apply for financing online and get pre-approved. Then you can work directly with our finance experts to create a payment plan that will work well for you.

How to Get a Car with Bad Credit: Steps to Take

If you’re trying to secure a bad credit car loan, there are a few things to try to get together beforehand in order to be certain that you’re taking the best financial steps for you right now.

1. Determine how much you can afford to pay. This amount can encompass more than just how much you can afford to borrow. You’ll also want to consider the expenses, such as annual registration fees, car insurance, maintenance costs, and gas costs.
2. Make a bigger down payment if possible. If your credit isn’t the best, making a larger down payment can help lenders to see you more favorably as a borrower. In addition, a larger down payment allows you to have a smaller loan balance to pay off, leading to less interest paid overall.
3. Try to clean up your credit report before applying for a loan. If you find any errors, you should dispute them immediately because they could be dragging your credit score down. Start paying down any outstanding debts where you can – even making a small dent can help your credit score.
4. Be honest about what kind of car you should buy. When it comes to getting a new car, focus on financing a car with an affordable payment, even if it isn’t the dream car, and that you can afford to take care of in the coming years.
5. Shop around with lenders. Take the time to apply with a handful of lenders, don’t assume that you’ll only be approved by one, so you can compare the rates of those who approve you.

How to Get a Car with Bad Credit: Improve Your Credit Score

Another thing to consider when asking how to get a car with bad credit is that if you take out a car loan with bad credit and consistently make your payments on time every month, it will actually help you to improve your credit profile and credit score. In the future, you may be able to get more lending power down the line for lower-interest loans and credit cards.

Explore Your Auto Loan Options at Mark Miller Subaru South Towne

Are you interested in getting behind the wheel of a new vehicle? The Mark Miller Subaru South Towne team can also help you with trade-in options to secure more for your down payment. If you still have questions or are looking for finance tips, explore our resources, or feel free to contact us online!