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How To Get a Car Loan With Bad Credit

Finance Paperwork with Glasses

 

If your credit has taken some hits, you’re not alone. At Dick Hannah RAM we get questions about how to get a car with bad credit. If you’re looking for a bad credit car loan, our finance department can help! Take a look at our guide to how to get a car loan with bad credit, and start getting your finances ready.

 

 

How To Get a Car with Bad Credit

It’s possible for Portland drivers to get a bad credit car loan at Dick Hannah RAM. You can work with our finance professionals, who’ll make the process easy and judgement-free. The first step is to apply for financing with us. You’ll get a pre-approval with the amount of your loan and your interest rate. This information is what you need to start shopping for a new or used car. Once you’ve chosen your vehicle we’ll work with you on devising a payment plan that works with your budget. If you’d like to get an idea in advance of what your monthly payments will be, use our online payment calculator at home in Beaverton.

Steps To Take To Get a Bad Credit Car Loan

Now that you know the basics involved in how to get a car loan with bad credit, let’s take a closer look at the details in obtaining a bad credit car loan.

  • Determine your budget: You’ll need to include more than just your loan approval amount. Consider other expenses that go into owning a vehicle: insurance, registration fees, maintenance, and fuel costs.
  • Make a bigger down payment if possible. The more you’re able to pay as a down payment, the better. This impresses lenders, and it also reduces the amount of money you’ll have to borrow in what might be a higher-interest auto loan. Having a vehicle to trade will help.
  • Try to clean up your credit report before applying for a loan. First of all, make sure everything on your credit report is correct. Don’t let mistakes ruin your credit! Second, make sure you’re making on-time payments on your debts. Even a small dent in your debt or a short record of on-time payments can help your bad credit auto loan.
  • Be honest about what kind of car you should buy. This isn’t the time to shop for your dream car, but one that fits your budget in Hillsboro. Buying a car you can realistically afford now is likely to make it possible for you to get that dream car down the road. If you make all your payments on your new vehicle on time, your credit score will improve.
  • Shop around with lenders. You don’t have to take the first offer that comes your way. Shop around by applying with a handful of lenders because you might get a better offer.

Learn More About How to Get a Car with Bad Credit at Dick Hannah RAM

Now that you know the basics about how to get a car loan with bad credit, turn to Dick Hannah RAM to get your next car! Contact us with your questions about how to get a car with bad credit, then take a look at our budget vehicles.

 

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