How to Get a Car Loan With a Bad Credit Score

At Five Star Chevrolet, our goal is to put every driver behind the wheel! No matter your credit score, our team will sit down with you to find an auto financing solution that works for your budget. This guide covers everything you need to know about bad credit car loans before you get started.

How to Get a Car With Bad Credit: It’s Easier Than You Think!

It’s true that getting approved for a car loan can be more difficult if you have a lower credit score, but there’s actually more flexibility here than many people think. Byron and Macon-area auto dealerships—including Five Star Chevrolet—are willing to work with buyers on an individual basis to find a solution that works for everyone. By working with your dealership as an intermediary between you and the lender, you have more ways to prove that you are capable of paying off a loan. Compared to a lender, your dealership may put more weight on your current income than on your credit score alone.

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

If you’re planning to apply for a bad credit car loan, you will need to take a little more time to prepare. Here’s what to keep in mind:

• Set Your Budget. Determine exactly how much you can afford to pay each monthbefore you start shopping for a vehicle. Remember to include other expenses such as insurance, registration fees, auto maintenance, and gas. 
• Increase Your Down Payment. If possible, offer to pay a larger down payment. This will help lenders to feel more comfortable extending a loan and will reduce your monthly payment amount.
• Boost Your Credit Score. Take steps to clean up your credit report before you apply. Even if you’re only able to boost your score a few points in the months leading up to your loan application, it could make a difference! Take this time to check your report for errors, and dispute them if necessary.
• Find the Right Car. Resist the temptation to buy a car that you love, but that isn’t practical for your budget. You’ll be glad you opted for a vehicle that’s comfortably within your budget over one that strains your finances. 
• Compare Loan Offers. Don’t assume that because you’re applying for bad credit car loans, the first offer will be the only one! Apply to multiple lenders and then choose the best offer.
• Take Advantage of Finance Specials. We always offer a rotating selection of lease and finance specials in Warner Robins. Timing is key—keep checking our current specials until you see a great price on the model you’ve had your eye on!

How to Get a Car With Bad Credit—and Boost Your Score at the Same Time

If you are able to get a bad credit car loan and then make all of your payments on time, did you know that your credit score is likely to improve as a result? Your score may even improve before you’re finished paying off the loan. In that case, it may be possible to refinance your loan for a better rate!

Learn More About No Credit and Bad Credit Car Loans at Five Star Chevrolet 

With the right auto finance experts in your corner, you can learn how to get a car loan with bad credit and improve your financial standing. Contact us or visit our dealership near Robins Air Force Base to explore the in-house financing options we offer. Don’t forget to ask how selling your car to us can help you save on your next ride!