Tips on Financing a Car When You Have a Poor Credit Rating

Posted: Saturday, June 30th, 2018

If you’re looking to finance a car but have a poor credit rating, Green Light Auto Credit can help. We offer car loans for people with bad credit, so check out these tips to get the best deal:

  • Before you shop for bad credit car loans online, check your credit report and address issues as best you can. Clean up your credit by paying past due amounts and checking for any inaccuracies.
  • Check current interest rates for people with your credit rating. That way you can be sure the rate you’re being offered is fair.
  • The larger the downpayment, the less interest you’ll pay over time. It also can help you afford a better car. Consider trading in your current car and putting its value toward the purchase of a new or used vehicle.
  • A car without options like leather-trimmed seats or a high tech infotainment system will ultimately cost less. Make a list of features you need before you go shopping.
  • Consider asking a close friend or family member to be a guarantor on your auto loan.
  • An auto loan can even improve your credit rating if you make payments on time. That’s why it’s important to choose a car you can afford. You can get a car back if it’s been repossessed, but it’s a challenge.

Shop for Bad Credit Car Loans at Green Light Auto Credit

Any questions? Consult our financing FAQ or call us at 800-200-5551.