How to Buy a Car with Bad Credit

Tiny car behind coins

 

From time to time, Winter Haven drivers will ask our finance team at Regal Kia “Can I buy a car with bad credit?” Absolutely! While buying a car with bad credit is possible, there are some steps that you can take to make the best out of the situation. Whether you haven’t started building your credit or your credit history hasn’t been the best, we can help you out. Explore more, including a guide on how to buy a car with bad credit, below!

 

 

Is Buying a Car with Bad Credit Right For You?

While you can purchase a vehicle even if you have bad credit, it may not always be the best move for you. Our finance team advises you to only consider this move if you need to rely on a car to commute to work, school, or errands around Plant City. However, if you don’t need to have a vehicle immediately, you can spend some time building your credit score. Whether you pay off some of your existing loans or try to make future payments on time, your score will increase over time and you will have an easier time purchasing a vehicle with a better score.

Tips on How to Buy a Car with Bad Credit

If you decide a car purchase is necessary now and that you can handle the payments, you should do the following:

  • Figure out how much you can afford to pay for your next vehicle. This amount will include the price of the car itself, along with registration fees, car insurance, maintenance costs, and gas costs. Use our monthly payment calculator to see if you can realistically afford a particular car.
  • Make a bigger down payment. When your credit isn’t great, a larger down payment will help lenders to see you more favorably as a borrower. Also, a larger down payment means you’ll have a smaller loan balance to pay off, leading to less interest paid overall. If you don’t have extra money for a bigger down payment, you might find this to be another reason to hold off buying a car with bad credit until you save up some money.
  • Clean up your credit report before applying for a loan. Any errors can lower your credit score, so if there are any, you should dispute them to ensure your credit is being reflected accurately. If you have any outstanding debts, start paying them down where possible– even making a small dent can help your credit score.
  • Choose a realistic car model. This should be a car that you can actually afford and manage its monthly payments. We would recommend checking our used selection as they are cheaper.
  • Shop around with Brandon dealerships. Each dealership will have a different selection of cars in terms of the price range, so feel free to explore around before deciding to buy one.

Can I Buy a Car with Bad Credit at Regal Kia?

You should also shop around with different local dealerships because not every one of them will be experienced or have the right network to help drivers with a less-than-ideal credit score. At Regal Kia, our finance team works with all drivers regardless of their credit score. We have built strong connections with various trustworthy lenders in the area, so we can help you secure credit assistance financing for you!

Secure the Keys to a Car at Regal Kia Today!

Let’s make buying a car with bad credit happen in Lakeland today! Partner up with our finance team to work out all of the details and if you have any questions, feel free to contact us.

 

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