How to Get a Car Loan with Bad Credit

Bad Credit

Getting a car loan with perfect credit may seem simple, but what do you do if your credit is less than perfect? Bud Clary Auburn Chrysler Dodge Jeep Ram can help. Securing a “bad credit” car loan may require a little more preparation, but you can easily find a great car at a price that won’t break the bank. Dive deeper into how to get a car loan with bad credit, and learn more car buying tips at Bud Clary Auburn Chrysler Dodge Jeep Ram.

How Do I Find a Bad Credit Car Loan around Federal Way?

The finance team at Bud Clary Auburn Chrysler Dodge Jeep Ram can help you learn how to get a car with bad credit based on your unique financial situation, so don’t hesitate to reach out to us. First, apply for financing to get pre-approved. Then, we can pair you with an expert to work through your options, so you can find a vehicle with a payment plan that fits your budget and lifestyle. You might be surprised to learn that securing a car loan can even help improve your credit over time, building your lending power as you make payments on time.

What are the Steps to Getting a Bad Credit Car Loan?

Learning how to get a car loan with bad credit is similar to any other car loan, but we recommend doing some research ahead of time for the best results possible. Here are the steps to getting what you want.

  • Determine your budget. Not only should this amount cover your monthly payments, but also ownership costs. This includes everything from car insurance to maintenance to gas prices.
  • Boost your down payment. A bigger down payment can benefit you in a number of ways, as long as you can afford it. A bigger down payment will prove to your lender that you are serious about your loan, and it will also help bring down your monthly payments and thus, reduce the amount of interest you’ll pay.
  • Clean up your credit report. Many customers in Tacoma and Kent have caught errors in their credit scores, so it pays to check your report and clean up any mistakes. Additionally, paying off small debts can boost your score.
  • Shop wisely. While it’s easy to be swayed by the exciting new models in the showroom, shop strategically for a reliable car that fits into your budget in the present and in the future.
  • Apply broadly. There’s no need to apply for financing with just one lender. Feel free to apply broadly to compare rates, but be sure to submit your applications within a 2 week period to avoid marks on your credit score.

Learn How to Get a Car with Bad Credit at Bud Clary Auburn Chrysler Dodge Jeep Ram

We’ve covered the basics of how to get a car with bad credit, now get the process started at Bud Clary Auburn Chrysler Dodge Jeep Ram. Our team would be happy to help you find just the right solution to any financial need, so contact us today!

 

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