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How Can I Get a Car With Bad Credit?

Finance Paperwork with Glasses
Carroll drivers that come into Macke Motors, Inc. with bad credit often wonder if it is possible for them to get a car loan. It’s one of the most commonly asked questions of our finance department, but you don’t need to wonder how to get a car loan with bad credit any longer, as we’ll help you take home your brand new-to-you vehicle! Find out how to get a bad credit car loan with us, and how it can actually help you rebuild your credit score today with a used Truck such as a used Ford!

 

 

How Can You Get a Car Loan with Bad Credit

Wondering how to get a car loan with bad credit? At Macke Motors, Inc., our finance team makes it easy for you, even if you do have bad credit. All you have to do to get started is apply for financing online to get pre-approved. Then work directly with our finance department to figure out a payment plan that works for you. Taking advantage of our used vehicle specials will help you save even more, making your monthly payments even lower, which in turn makes it easier to figure out how to get a car with bad credit such as used Buick.

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

Here are some things to keep in mind beforehand when you’re trying to figure out how to get a car loan with bad credit. These can help you to make the best financial decision for you right now:

  • Determine how much you can afford to pay. This amount should encompass more than just how much you can afford to borrow. Think about other expenses like annual registration fees, car insurance, maintenance costs, and gas costs.
  • Make a bigger down payment if possible. If your credit isn’t great, a larger down payment will help lenders to see you more favorably as a borrower. Additionally, a larger down payment means you’ll have a smaller loan balance to pay off, leading to less interest paid overall. If you have an existing car, you can trade it in for an added boost to your down payment.
  • Try to clean up your credit report before applying for a loan. If you catch any errors on your credit score report, you should absolutely dispute them because they could be dragging your credit score down. If you have any outstanding debts, start paying them down where possible – even making a small dent can help your credit score over time.
  • Be honest about what kind of car you should buy. Your focus should be financing a car with an affordable payment— one that you can afford to take care of in the coming years. This is why our selection of used vehicles is a great starting point.
  • Shop around with lenders. Don’t assume that the first lender to approve you will be the only one. Apply with a handful of lenders, so you can compare the rates of those who approve you. But make sure you apply for financing with all locations you plan to shop from within the same 14-day period to minimize the impact on your credit score.

Improving Your Credit Score

Many Fort Dodge drivers don’t realize this, but if you take out a car loan with bad credit on a used Equinox or Traverse, and make consistent payments, it can go a long way to repair your score. Making your monthly payments on time, over the period of your loan, is a great way to boost your credit score and credit profile, giving you more lending power in the future, as well as reducing the interest rate on future loans and credit cards you select.

Finance a Car Near Lake View Today!

If you think it’s time to secure your new-to-you vehicle, then don’t wait any longer! Come into Macke Motors, Inc. and let us help you find the vehicle that best fits your budget and needs, so you can get started repairing your credit score today.

 

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Macke Motors, Inc. 42.26729, -94.74615.