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

Young Family Are Signing A Contract To Buy A Car.

Interested in driving a new vehicle, but holding yourself back with the question: “How can I get car financing with a bad credit score?” At Mike Murphy Ford, our finance team is here to help! We aim to help drivers from Peoria and beyond drive a car they love, regardless of their credit history. Here, we provide some tips and tricks on best practices on how to get a car loan with bad credit, and we always offer vehicle specials  to help you even more!

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Finance a Car at Mike Murphy Ford

Financing a car with Mike Murphy Ford is as simple as submitting an online application. From there, our team will work with you to secure a bad credit car loan if necessary, or provide advice on how to proceed. Every step of the way, our team will work with you directly to figure out loan terms and a payment plan that works for you.

How to Get a Car with Bad Credit

If you decide to move forward with financing, make sure to get things in order beforehand so that you aren’t making a rash decision. Boost your financial savviness with the following tips.

  1. Break down your budget, determining how much you can pay each month on a car loan.
  2. Prepare a bigger down payment, if at all possible. If you currently have a car, consider trading it in to contribute to the down payment.
  3. Check your credit report before applying for a loan, cleaning it up as you can.
  4. Be realistic about the car you can afford to buy. The extra technology and luxuries are always nice, but don’t overextend yourself. You may even find excellent options within our used car inventory, including some models priced under $10,000!
  5. Ask questions if you’re confused!

Improve Your Credit Score with a Car Loan

One way to surely improve your credit score? Take out a car loan, and consistently make payments on time each month. Doing so will provide a boost to your credit profile, which in turn will ensure you have more lending power in the future. That means lower interest rates on loans and credit cards for future purchases!

Secure Auto Financing at Mike Murphy Ford!

Bad credit doesn’t exclude you from the auto financing process. In fact, it can be a good way to move forward financially! Have any questions? Get in touch with Mike Murphy Ford, and we will gladly take care of you!

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