Wondering How To Get a Car Loan With Bad Credit?

Man and Woman Signing Contract

For those who need a vehicle, yet don’t have an abundance of means, how to get a car loan with bad credit is a critical question. Thankfully, we at Sanborn Chevrolet help many people through that very query, and the honesty and professionalism of our finance team is second to none. For those with credit challenges in the Galt and Elk Grove areas, contacting us is a great way to get a better understanding of your options and to see how car dealerships that accept bad credit operate.

The Process: How To Get a Car with Bad Credit

The basics of how to get a car with bad credit are straightforward, and are key to understanding your options. Just because one of the common “no credit check financing car dealerships” or “no credit check dealerships” is willing to instantly give you a loan, does not mean that is the right financial decision for you.

  • Establish your budget. This amount includes the car payment itself, but must also include fuel, registration fees, car insurance, and maintenance costs. 
  • Provide the largest down payment possible. If at all possible, increasing the down payment can greatly increase your negotiating leverage and reduce the overall cost of any loan. Paying more up front may feel like a burden, but will actually save you a significant amount of money over the loan term.
  • Evaluate and attempt to improve your credit report before applying for a loan. If there are any errors in your report making it worse than it otherwise could be, dispute them. Pay down outstanding debts wherever possible, as even small improvements can move your credit report in the right direction. 
  • Be realistic about what vehicles to shop for. As our selection of vehicles under 20k often proves, you don’t need to break the bank to buy a solid, comfortable vehicle. Set a low budget, do your research, and find a vehicle whose reliability and maintenance costs match its low purchase price.
  • Compare many lenders. Don’t immediately go with the first lender to approve you. Even with dealerships that accept bad credit, it is important to shop around and see what monthly payment you can get.

Bad Credit Auto Financing: Improve Your Credit Score

One of the primary criteria of a good credit score is good payment history. Making payments on or ahead of time can greatly improve your credit score and keep you from higher interest rates in the future. Most people in Stockton don’t realize that bad credit auto financing, at least when done conservatively, can leave one with dramatically improved credit by the time you either pay off the loan or trade-in the vehicle. This improved credit history will make it much easier to qualify for a loan in the future. 

Consult Sanborn Chevrolet About Bad Credit Auto Financing Today!

Here at Sanborn Chevrolet we know that there are many people who require bad credit auto financing, and we are more than capable of helping out. Contact us today to get in touch with our finance center, and see how they can get you on the road! 


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