Can You Finance a Car with No Credit?

couple trade in their car

Yes, you can! While it may be a little tricky, financing a car with bad credit is not impossible. Get all of the details about automotive loans and advice on financing a car with no credit with the financial experts at Vande Hey Brantmeier before visiting our finance department to get your loan.

Financing with Bad or Even No Credit

When it comes to bad credit car finance, you need to know that the down payment could be more than the average – same with your interest rate. It’s essential that you go in knowing how much you can afford, but leave a little wiggle room just in case.

Below are additional tips to keep in mind:

  • Ask questions, and don’t assume you won’t be approved. While you may think financing is your only option, that’s not always the case. See if you have other options that are more beneficial to you.
  • Leasing might be a better option. While these payments may also be higher than the average lease, it’s more affordable than trying to buy a vehicle.
  • Revive your credit score. Do you have bad credit? Use your credit card on small things and immediately pay it off. This is the best way to build up your credit.
  • Know your budget and your credit score (if you have one). When applying for financing, your credit score takes a hit. Keep all of your loan applications within 14 days to limit the potential damage to your score.
  • Separate price negotiation from financing. Many dealerships go through multiple lenders, so you won’t get just one offer.
  • Be prepared for a higher cost. You may receive higher interest rates, a larger down payment, or both if you have no credit.

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Apply for a Loan at Vande Hey Brantmeier

At Vande Hey Brantmeier, our finance team works hard so you can obtain bad credit car finance without any difficulty. Check out our financing and leasing options, and apply for financing to get pre-approved before visiting our dealership. Have questions in the meantime? Don’t hesitate to reach out to us.

 

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