How to Get a Car Loan With Bad Credit

It’s a common question we get at Shottenkirk Chevrolet, and people are often wondering “How to get a car with bad credit?” or if they even can! It is 100% possible to get a vehicle, and our team at Shottenkirk Chevrolet near Waukee can help you figure out how to get a car loan with bad credit. Once you have an idea of how financing works, check out our new vehicle specials to see how you can save money on your next vehicle purchase.

Where to Find Bad Credit Car Loans

Where can one find a company that will provide a person with bad credit car loans? Our finance team at Shottenkirk Chevrolet makes it easy for Des Moines drivers to secure a bad credit car loan. The first step you need to take to move forward with the process is to apply for financing online and get pre-approval, then you can work directly with our team so we can help you figure out a payment plan that works best on your budget.

Steps for Getting Bad Credit Car Loans

When you’re working on getting your credit score up, you may still need to purchase a vehicle, and this can be done when you apply for a bad credit car loan. There are a few things you will need to get together in order to be sure that you are making the best financial decision for your circumstances.

1. Determine how much you can afford to pay. Determining how much you can afford does not just include the amount you can afford to borrow. It’s important to consider other expenses associated with a vehicle like the annual registration fees, car insurance, maintenance costs, and gas costs. 
2. Make a bigger down payment. If you don’t have good credit, and you are able to make a larger down payment, it can make lenders view you more favorably as a borrower. A larger down payment can also help pay off your car loan sooner, which means you will have less interest to pay overall. 
3. Clean up your credit report before applying for a loan. If there are any errors in your credit report, you should dispute them. Errors could be bringing down your credit score, and if you have any outstanding debts, it would help if you start paying them down – even making small payments can help improve your credit score. 
4. Be honest about the car you should buy. If you have a bad credit score, you should focus on financing a car with an affordable payment and that you can afford to take care of in the upcoming years. 
5. Shop around with lenders. The first lender to approve you will not be the only one, so don’t settle. Keep applying with a few different lenders so you can compare the rates of those who approve you to get the best rate possible. 

How to Get a Car Loan With Bad Credit: Improving Your Credit Score

One of the best things about taking out a car loan when you have a bad credit score is the possibility of improving your score. If you consistently make your payments on time every month, it will help you improve your credit profile and credit score. In the future when you go to make purchases, you will have more lending power and can receive lower interest on loans and credit cards.

How to Get a Car With Bad Credit: Come to Shottenkirk Chevrolet today!

If you are still thinking of getting that bad-credit car loan at Shottenkirk Chevrolet near Urbandale, come visit us in Waukee. You can value your trade online to see how you can increase your initial payment. Our team at Shottenkirk Chevrolet is happy to get you in your new or used vehicle ASAP and moving in a better direction. If you still have questions about how to get a car with bad credit, contact us today!