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Car Financing with a Bad Credit Score

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

Oftentimes, people come to Randy Wise Automotive Team wondering how to get a car loan with bad credit. So, how does one get car financing with poor credit? Can you even get car financing with bad credit? The answer is yes! Whether you’re in Clio, Durand, or elsewhere in the Flint area, Randy Wise Automotive Team can help you to determine how to get a car with bad credit–new or used. Learn how to get a car loan with bad credit with Randy Wise Automotive Team.

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

Before you decide to take out a bad credit car loan, you’ll want to make sure you have a few things together to evade making any poor financial decisions. Follow these steps on how to get a car loan with bad credit in Durand, Ortonville, Flushing, or elsewhere in Michigan.

  • Figure out how much you can actually pay. Rather than just thinking about the price of the car you’re interested in, you’ll want to take other expenses into account like maintenance costs, car insurance, registration fees, and gas.
  • Spiff up your credit report before you apply for a loan. You’ll want to try to expunge any errors ahead of time to improve your credit card. For example, if you have any outstanding debts, you’ll want to pay them as soon as you can to bump up your score.
  • If you can, try to make a bigger down payment. When you choose to put more money down in the beginning, this can help lenders to see you as a more financially responsible borrower. You’ll also have less interest on your loan overall, as you’ll have a smaller loan balance to pay off.
  • Be realistic in the type of vehicle you want to purchase. Sadly, if you have a poor credit score, you probably won’t be getting the luxury car you’ve always dreamed about. You’ll want to choose a car that you can realistically afford.
  • Look at multiple lenders. It’s best to apply with multiple lenders to compare the rates of those who approve you versus going with the very first person to approve you.

Note, that if you have poor credit, taking out a car loan gives you the opportunity to improve your credit score (as long as you make your payments on time every month).

Learn About Your Financing Options with Randy Wise Automotive Team Today

Now that you know how to get a car loan with bad credit, it’s time to take the next step. Poor credit or superb credit, we want the best for each and every one of our customers. Browse more of our car buying tips, then reach out to our team at Randy Wise Automotive Team to learn about financing options.