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Are you wondering, “Can I get a car with bad credit?” The answer is yes! At Capital Ford Lincoln, we help drivers from throughout the Regina area secure the financing they need to get behind the wheel of the new car, truck, or SUV they want. Learn more about how you can get car financing with poor credit, and then explore the great deals available in our new vehicle specials!
It may seem more than a little daunting to consider buying a car when you have a less-than-stellar credit rating, but the finance team at Capital Ford Lincoln specializes in providing bad credit car loans. Even if you are a first-time buyer or have no credit at all, we’ll get you the best financing and interest rates possible. To start, you can use our convenient online payment calculator to determine what your monthly payments will be, and then apply for financing with us online to get pre-approved. Our finance specialists will work with you to create a payment plan that is the right fit with your budget.
There are some things you can do ahead of time to make sure that you make the best financial decision when attempting to take out a bad credit car loan. Consider the following:
If you take out a car loan with bad credit and are able to consistently make your payments on time every month, it will actually help you to improve your credit profile and credit score. Some other things you can do to boost your credit score include:
Some drivers may ask, “Can I refinance my auto loan once my credit score improves?” The answer is yes. As you work to boost your credit score, you will be eligible for lower interest rates and will be able to lower your monthly payments if you decide to refinance.
Another option when trying to get a car loan with bad credit is to arrange for a cosigner. This is a serious responsibility for the borrower, as the cosigner will be on the hook if the borrower defaults. As long as you make sure to manage the loan responsibly, having a qualified cosigner can make getting a loan and a good interest rate more possible for those with a bad credit score.