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

While bad credit can limit your available vehicle options around Schaumburg, you can still get a car loan. At Biggers Chevrolet, our finance team wants to help you find the best deal, regardless of what your credit score is.

If you’re wondering about bad credit car loans or asking about how to get a car with bad credit, you’ve come to the right place. Learn more below and contact us online or call (847) 857-6103 if you have additional questions!

Steps to Take to Receive Bad Credit Car Loans 

When answering, “How can I get car financing with a bad credit score?” or “How to get a car with bad credit?” it’s important to be strategic in approaching this process. You won’t have as many options as someone with the best credit, yet there are steps you can take to get in the best possible spot. Consider the following steps as you explore various bad credit cars loans near Streamwood:

• Determine How Much You Can Pay: Always think beyond how much you can afford to borrow. This amount should encompass other expenses, including annual registration fees, car insurance, maintenance costs, and trips to the gas station.
• Make a Larger Down Payment: This is a great way to show lenders that you’re committed to paying off the rest of your car loan. You will also have a smaller loan balance, meaning less interest paid overall. It’s a win-win situation if you’ve saved up some money towards your down payment. 
• Clean Up Your Credit Score: Any errors in your credit report should be disputed as they might affect your overall score. You should also pay off any outstanding debts to clean up your score. 
• Be Realistic While Car Buying: When looking for your next Bartlett area ride, find one you’ll be confident you will pay off. You want a vehicle that you can afford. Consider one of our pre-owned selections and use our payment calculator to determine how much you’ll owe each month.
• Compare Local Lenders: When car shopping, apply with a variety of lenders near Schaumburg, so you can compare the rates of those who approve you. Try to be patient and explore every option before choosing the best one.

How to Get a Car with Bad Credit: Improve Your Credit Score

While bad credit car loans might seem like a bad idea, they’re a great way to build up your credit, especially if you make consistent monthly payments. This is true for every loan, especially if you need a vehicle. A car loan is a great opportunity to improve your credit score and provides superior borrowing power when your credit is in a better place.

Secure Auto Financing at Biggers Chevrolet in Elgin!

“How can I get car financing with a bad credit score?” You have multiple options around Streamwood and Biggers Chevrolet is here to help. 

If you want to put more money towards your down payment, you can trade in your current vehicle and use what you receive towards your next model. Finance your next car purchase with Biggers Chevrolet today!