How to Get a Car Loan with Bad Credit

Bad Credit

 

When you’re searching for how to get a car with bad credit such as a used Telluride, the team at Ron Bouchard Kia has your answer! Our finance center is dedicated to taking the worry out of your car search, and we’re tackling bad credit car loans so Leominster drivers aren’t out of luck to take home a used Sportage or a used Optima. Learn more about your financing options, then, be sure to take advantage of a great deal with our new or used vehicle specials.

 

Get a Car with Bad Credit

If you’ve been thinking about bad credit car loans in Fitchburg, you’ll be happy to know the first step is easy. Start by applying for financing online to get pre-approved. From there, the team in our finance center at Ron Bouchard Kia will work with you to determine which payment plan works for you.

The Bad Credit Car Loan Process

Whether it’s to get through your daily commute or to give you more freedom around Gardner, it’s worth taking the steps for how to get a car loan with bad credit. Here’s how you can prepare:

  • Determine how much you can afford to pay. Understanding your budget should go beyond how much you can afford to borrow. Other expenses like annual registration fees, car insurance, maintenance costs, and gas costs should also be factored in.
  • Make a bigger down payment if possible. The interest rates are higher when the credit score isn’t great. If you can, make a bigger down payment to make a small loan balance to pay off.
  • Try to clean up your credit report before applying for a loan. Take the time to know your credit report and address any outstanding debts or errors. Even the smallest change can help your credit score.
  • Be honest about what kind of car you should buy. Knowing how to get a car with bad credit also means understanding what you can handle with affordable payments.
  • Shop around with lenders. Applying with a handful of lenders allows you to compare rates and find one that works for your needs. 

Improving Your Credit Score

Securing a bad credit car loan can actually help improve your credit score! Making consistent and full payments every month will improve your credit profile and credit score and increase your lending power in the future for lower-interest loans and credit cards. Then, you can take to the streets of Gardner in a used Kia Forte that you want!

Explore Your Financing Options with Ron Bouchard Kia!

If you have any questions about how to get a car loan with bad credit, don’t hesitate to contact us at Ron Bouchard Kia. If you have your eye on a used Kia SUV model you love, such as a used Kia Soul, then learn how to trade in your vehicle, value your trade, and apply that to your new down payment!

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