How Can I Get Financing With a Bad Credit Score?

A 2020 Kia Optima driving on a city street

Bad credit doesn’t mean you can’t have access to your favorite new or used Kia for your Rogers commutes and Otsego adventures. Learning how to get a car loan with bad credit doesn’t take much extra, but it can go a long way to understanding what your budget can look like as you shop around. The Cornerstone Kia finance center specialists are here to help you through the entire process of how to get a car with bad credit. Read on below for our quick guide!

How to Get a Car Loan with Bad Credit: First Step

Before we get ahead of ourselves, some dealerships will allow you to apply for financing from home for pre-approval. This saves an extra trip to the dealership when you’re just browsing, and it allows you to become familiar with the kinds of paperwork you’ll be encountering. It will even give you a head-start on the finalized paperwork in case you find the dealership you want through this process, getting you on with your St. Michael travel faster with less hassle. Our finance team can start working on your payment plan, even before you arrive!

Your Next Step: Researching Your Options

Now comes the tricky part. When you have less than ideal credit, your car loan can help you build credit over time, but it may be difficult to find the right deal because of that very fact. Ultimately, knowing how to get a car loan with bad credit boils down to understanding the limitations and particularities of your budget:

  • A larger downpayment will lead to smaller monthly payments, which may increase the likelihood of your budget fitting the needs of your loan. Consider how much you can spend on this first payment.
  • Your loan terms will also depend upon the car you want. If you’re shopping for used or certified pre-owned vehicles, this may be your best bet. Also, keep an eye out for trade-in deals, special incentives, leasing, and other saving possibilities.
  • Are there any errors in your credit report? Look closely to see if you can clean up your credit if a couple of oversights are holding you back.

Cornerstone Kia, Your Financing Experts

Although the financing process can seem nerve-wracking, it doesn’t have to be. Whether you want to know how to get a car with bad credit, how to trade in a car, or you’re simply looking for more car buying tips and tricks from our experts, Cornerstone Kia has your back. Stop by Elk River to schedule a test drive with one of our fantastic vehicles, or to ask any other questions you may have about the financing process!

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