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

Bad Credit

If your credit score is not where you would like it to be, you might think car financing is out of reach. Not true! Bad credit car loans are available at Anchor Auto Outlet in Cary, allowing you to finance the vehicle you want to drive in Raleigh and the surrounding areas. Review our guide on how to get a car with bad credit before contacting our financing team for more information. We are here to take the stress out of vehicle financing and pair you with your perfect car! 

How to Get a Car Loan With Bad Credit 

To apply for financing, simply fill out our online application, and we will contact you regarding the next steps. Before you apply, our finance team recommends doing the following: 

 

  • Determine what you can afford to pay. In addition to how much you can afford to borrow, consider other expenses such as vehicle insurance, gas costs in Morrisville and the surrounding areas, maintenance costs, and annual registration fees. 
  • Put down more money. If possible, make a bigger down payment on your preferred vehicle. The more money you put down, the better you will look to lenders. A larger down payment also means dealing with a smaller loan balance and therefore paying less interest. 
  • Improve your credit befor applying for a loan. Doing as much as you can to clean up your credit report also makes you more attractive to auto loan lenders, such as disputing report errors and paying bills on time. Other credit improvement steps include paying down credit card bills and refraining from opening new lines of credit. 
  • Be honest about the right car to buy. Focusing on affordable vehicles over “dream rides” is strongly suggested when getting a bad credit car loan. You can always buy another car at a later date when your credit score has improved, and you have more money to put down. 

As you learn more about how to get a car with bad credit, you’ll discover that obtaining a bad credit car loan actually improves your score over time! On-time monthly payments boost your credit, which makes it easier to get lower-interest credit cards and loans in the future. 

Begin the Bad Credit Car Loan Process Today! 

Now you know how to get a car loan with bad credit! Start the financing process today with Anchor Auto Outlet, and let us know if you have any questions by calling 919-651-0051. Our dealership is close to Durham, so you can always drop by as well. We look forward to assisting you! Our team also invites you to learn more about our dealership, review our instant estimate trade-in valuation calculator, and check out our latest pre-owned vehicle specials!

 

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