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Finance a Car with Bad Credit

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Find Bad Credit Car Loans in Sterling at Ted Britt Chevrolet

Have bad credit and don't think you can buy a new car? Let us help! Ted Britt Chevrolet offers bad credit auto loans and tips to get the best rate on your auto financing. At our Sterling Chevrolet dealership, we understand our customers deserve to get a new car, truck, or SUV no matter their credit history and work hard to make that happen. We also understand it can be a struggle to shop for a vehicle when faced with credit challenges, so we're happy to help offer some credit tips for easier car loan approval. If you are trying to buy a new car in Sterling with bad credit auto financing, then read some of the best steps below!

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Tips on How to Purchase a Car with Bad Credit:

  1. Rebuild Your Credit Score:

    2. The best thing you can do before heading over to the dealership is to check your credit score and see if there is anything you can fix before buying a new car. Check for any negatives, monitor your FICO credit score, and look for these important things:

    • Overdue accounts
    • Disputes and errors
    • Any unpaid debts
    Consider these important steps:
    • Make on-time payments
    • Clear current existing debt
    • Don't apply for too many credit cards
      • Do not overly check your credit score because it can affect it.

  2. Avoid Additional Bad Credit:

    3. Prior to applying for a bad credit car loan application, it's important to look into your credit score and be extra careful to avoid additional weak credit listings. Any little change to your score can affect your credit score instantly.

    Avoid these other red alerts:
    • Late rent payments
    • CC balance transfers
    • Tax-liens
    • Bankruptcy

  3. Compare and check interest rates for bad credit car financing:

    4. Look at a couple different loan terms and interest rates for bad credit auto loans provided by different lenders to find the best car financing option for you. This can also give you an idea of the actual monthly car payments you'll be paying.

  4. Know the Car Payment You Want:

    5. Before you choose a new Chevrolet near Stelring or a used car for sale, write down a budget you'll be able to follow. It's normal to be excited during car shopping and start looking outside of your price range, but remembering your other expenses can help you stick to a vehicle within your budget.

  5. Save for a Vehicle Down Payment:

    6. It's always a good idea to put down as much money as you can when buying a car so you can reduce your outstanding debt through financing faster. It's recommended to save money for your car loan down payment and put down at least 20% of the total new car's price and 10% of a used car. The more you put down, the lower your payments will be.

  6. Request Auto Financing Pre-Approval

    7. Getting pre-approved with banks, credit unions, and other lenders is an smart step for all car buyers who have bad credit. Credit unions are non-profit organizations and are are more open to lending to a borrower with a poor credit. But don't forget that the interest rates and requirements may vary, so it is best to shop around before selecing one.

    Pre-Approval Often Requires:
    • Running your credit
    • Provide essential documents such as pay stubs
    • Complete the loan application

  7. Read through all paper work:

    8. When you apply for a Sterling car loan with bad credit, your lender will provide more than a few loan papers. It's really important for you read all the paperwork and understand the loan terms before completely approving the agreement.

Get Started Buying A Car or Truck With Bad Credit at Ted Britt Chevrolet

Our Sterling dealership understands purchasing a new vehicle with bad credit can take some work, and it is true that most bad credit loans have a comparatively higher interest rate. By working hard to to improve your credit history and repair your finances before buying a car, you can save a lot of money. Work with a suitable, reliable and affordable financing department to purchase a car or truck when you are ready. Luckily, Ted Britt's auto financing team makes this possible and our staff is ready to help get you into the best vehicle for you. Be sure to contact our Sterling dealership when you're ready and we'll be happy to help answer any questions you may have.