How Can I Get Car Financing with a Bad Credit Score?

Credit History

Ideal Auto is your premier source for quality used vehicles for sale in the greater Minot area. That includes vehicles of all makes, models, and body types. With such a wide range of vehicles for sale, we surely have the selection to offer you something that meets your needs, but will you be able to afford it? People often come to us wondering, “Can I get a car loan with bad credit?” The answer is yes, and our finance team can help!

How Can You Finance a Car with Bad Credit?

The process for how to get a car with bad credit is similar to the process for how to get a car with good credit, with some notable planning differences. In other words, getting approved doesn’t generally take more or less time, but you’ll want to take some steps before the pre-approval and financing application processes to ensure you’re setting yourself up for success to the highest degree possible.

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

Bad credit car loans aren’t all that hard to obtain if you go to the right source and you do your research first. Here are some concrete steps you can take to be better prepared for the approval process:

  • Figure out 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 you can. If your credit isn’t good, a larger down payment can help offset your future monthly payments and show the lender that you have the potential to be fiscally responsible by saving up.
  • Try to clean up your credit report before applying for a loan. Dispute any credit errors and pay down any debts you can before applying for financing.
  • Be honest about what kind of car you should buy. Try to find a car you can afford the payments on and afford to service & maintain over the years rather than something glitzy and flashy. You’ll only have yourself to thank later.
  • Shop around with lenders. Remember, even with bad credit, dealerships like ours want to approve you. We want you to have access to the vehicle that will give you the freedom and independence you require to make the most of your life. 

How to Improve Your Credit Score

Did you know that you can improve your credit profile and credit score by taking out a car loan and paying it back on time, giving you more lending power down the line for lower-interest loans and credit cards? It’s true!

Finance a Car with Bad Credit Near Bismarck Today!

Ready to trade in your car for something else or purchase your first used vehicle from us? Ideal Auto is here to help! Browse what we’ve got for sale, then apply for financing online!

Ideal Auto 48.20342, -101.3122393.