Do you need a new car but you either don’t have a credit score or it’s low? You’re probably wondering if you’d be able to do a bad credit car finance and if it’s possible to do so. You actually can! However, there are a few more steps to the process than if you had an established credit report. Let’s take a closer look at financing a car with bad credit with Honda of Kirkland today! For more information, feel free to contact us anytime!
If you’re looking into financing a car with no credit or bad credit, your initial down payment will costs you a lot more, and your interest rates will be high, resulting in paying more each month. Check out these tips for financing a car with bad credit below:
When financing a car with no credit history, you might feel that one financing option is the best, however, it’s important to ask your Woodinville finance center any questions you might have throughout the process.
If possible, improving your credit score is a viable option. You could begin a payment plan to take care of any debts that are outstanding. Another great strategy is to pay for small items on your credit card, and pay them off immediately.
When you apply for a bad credit car finance, your credit score could decrease. Therefore, it’s critical to apply to each lender within 14 days to limit any damage to your credit score.
It’s important to not just take the first offer you’re given, as dealerships such as Honda of Kirkland go through various different lenders, so there is a very good chance you could get a lower interest rate.
You could be paying higher interest rates and have to put down a larger down payment if you have bad credit. Therefore, it’s important to factor this into your overall budget.
Now that you know more about financing a car with no credit, come stop by the Honda of Kirkland finance center if you have any questions! You can apply for financing, and even take advantage of our new vehicle specials to save on your next car near Seattle and Kirkland!
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