Can You Finance a Car with No Credit?

woman and man shaking hands

Whether you’re a first-time car-buyer with real credit history, or if you’re in the process of improving your credit score, the finance team at Gunter Nissan of Martinsville believes that everyone deserves a reliable new automobile. Are you wondering if financing a car with no credit is a possibility for you? Is so, the answer is yes!

Bad credit car financing may be a bit more complicated than the process for those with established credit, but the finance team here at Gunter Nissan of Martinsville is dedicated to finding a solution that works for you. Learn more about bad credit finance with our team!

Tips for Financing with No Credit or Poor Credit

When you take on a finance agreement with no credit history, you should be mindful that you’ll likely incur a sizable down payment. Additionally, your agreement may include a higher interest rate with bad credit car financing. And while you should expect a higher payment, be sure to remember that you might have a bit of negotiation room. Keep these tips in mind when you take on bad credit car finance.

Don’t Assume You Won’t Be Approved

If your credit score needs work, you may be intimidated by financing a car with bad credit. You might even think you will be denied financing. This may not be the case! Discuss all of your options with our finance experts so we can help you work out a plan that fits your lifestyle.

Improve Your Credit Score if Possible

Improving your credit score when possible will help give you lower payments when it comes time to negotiate. Establish action plans include paying off any outstanding debt, as many Martinsville-area lenders will be happy to work out a payment plan. Making regular payments can help build your score.

Don’t Accept Just Any Offer

If you’re considering financing a car with bad credit, it’s important to note that you have the freedom and flexibility to explore offers from lenders across Danville. The first offer that comes your way may not be the best and will likely not be the only one available to you. Bad credit car finance offers can be sought from many financial institutions, as lenders are often willing to help you improve your score.

Be Prepared for Higher Costs

When you’re taking care of bad credit car finance, there are certainly sizable costs associated with this kind of agreement. The opportunity to bring home a quality vehicle to Roanoke is exciting, but be aware that you may need to save for a substantial down payment.

Apply for an Auto Loan at Gunter Nissan of Martinsville

When you visit our finance office in Ridgeway, you will see how closely we work with our customers. We make obtaining a bad credit car finance agreement straightforward and transparent! Contact us today to get started, and take a moment to learn more about good mileage for a used car or how to drive with better fuel efficiency.

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