How to Get a Car Loan with Bad Credit

If you’re looking for a used car, but you don’t have the best credit score, you’re likely wondering, “Can I get a car loan with bad credit?” In short: yes, you can! Read this guide by the finance team at Prestman Auto to learn how to get a car with bad credit. We’ll walk you through how to secure a bad credit car loan in the Provo area. Then, browse our other car buying tips to learn more about automotive financing and leasing.

Steps You Can Take to Get a Car with Bad Credit

West Valley City shoppers who are interested in getting bad credit car loans can try a few different things beforehand to ensure they’re making the best financial decision possible:

• Determine how much you can afford to pay: This amount should include more than how much you can afford to borrow. You’ll want to consider other costs such as annual registration fees, car insurance, maintenance costs, and gas costs.
• Make as large of a down payment as possible: If you have bad credit, making a larger down payment will help lenders view you as a more favorable borrower. Also, a larger down payment means a lower balance to pay off and less interest paid overall.
• Try to improve your credit score if possible: Analyze your credit report to catch any errors that you can dispute, as they can lower your credit score. You’ll also want to start paying down any outstanding debts that you have.
• Shop for a car within your budget: When searching for your next vehicle, your focus should be on financing a car that had an affordable payment.
• Shop around with lenders: Shopping around for bad credit car loans entails finding a lender that will offer you the best rate. Don’t assume that the first lender that approves you will be the only one.

How to Get a Car Loan with Bad Credit: Improve Your Credit Score

If you take out a car loan with bad credit, and you make consistent, on-time payments, it will help improve your credit score and will give you more lending power down the line.

Finance a Car with Bad Credit with Prestman Auto

When you work with Prestman Auto, we’ll help you sort through bad credit car loans that offer you the best rates possible. In the meantime, value your trade-in online and explore your monthly payment options using the payment calculator.