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

If you need a new vehicle but your credit score needs some work, you might be wondering, “Can I get a car loan with bad credit?” At Spitzer Autoworld Lordstown, the answer is yes. We believe every Austintown driver deserves a vehicle they enjoy driving, and our finance team will work with you to find a payment plan that fits, regardless of your credit score. Learn more about bad credit car loans and how to finance a car with bad credit below, and visit us in North Jackson when you’re ready to get started!

How Can You Finance a Car with Bad Credit?

Wondering how to get a car when you have bad credit? At Spitzer Autoworld Lordstown, our finance team makes it as easy as possible for Warren drivers to secure bad credit car loans. All you have to do to get started is apply for financing online to get pre-approved, and then work directly with our finance experts to figure out a payment plan that works for you.

What Steps Should I Take to Get a Car Loan with Bad Credit?

If you’re thinking about taking out a bad credit car loan, there are some things to try to get together beforehand to ensure you’re making the best financial decision for you right now.

• Determine how much you can afford to pay. This amount should encompass more than just how much you can afford to borrow. Think about other expenses like annual registration fees, car insurance, maintenance costs, and gas costs. 

• Make a bigger down payment if possible. If your credit isn’t great, a larger down payment will help lenders see you more favorably as a borrower. Additionally, a larger down payment means you’ll have a smaller loan balance to pay off, leading to less interest paid overall. 

• Try to clean up your credit report before applying for a loan. If you catch any errors, you should dispute them because they could be dragging your credit score down. If you have any outstanding debts, start paying them down where possible – even making a small dent can help your credit score. 

• Be honest about what kind of car you should buy. Your focus should be financing a car with an affordable payment (even if it’s not your dream car), and one that you can afford to take care of in the coming years. 

• Shop around with lenders. Don’t assume that the first lender to approve you will be the only one. Apply with a handful of lenders so you can compare the rates of those who approve you. 

Improve Your Credit Score with a Bad Credit Car Loan

Many people don’t realize this, but if you take out a car loan with bad credit and can consistently make your payments on time every month, it will actually help you to improve your credit profile and credit score, giving you more lending power down the line for lower-interest loans and credit cards.

Get Financed at Spitzer Autoworld Lordstown Today! 

If you’re looking for bad credit car loans in the Boardman area, head to Spitzer Autoworld Lordstown. Our finance team is here to listen to your needs and pair you with a finance plan that will help you rebuild your credit. Contact us with any questions and check out our new vehicle specials for a great deal on a new Chevy!