Can You Finance a Vehicle with Bad Credit?

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The bad credit finance process doesn’t have to be overwhelming. At Helfman Dodge Chrysler Jeep® RAM FIAT, we work hard to provide the tools and resources you need to pick out the vehicle you like at the budget that works for you. Learn about bad credit financing with support from our team.

How Does Credit Score Affect Vehicle Financing?

Your credit score is one of the most impactful factors to consider when it comes to vehicle financing. It tells lenders how reliable it is to lend money to you, which is why higher credit scores provide access to more favorable leasing terms. You always want to check your credit score before you begin vehicle financing, so you know what kind of models will be available within your budget.

Can I Finance With Bad Credit?

In most cases, you will still be eligible for vehicle financing if you don’t have perfect credit. The important thing to remember is that a lower credit score poses a risk for lenders, which will affect the terms available to you. Likely you will see shorter term lengths and at higher interest rates. While you will most likely be able to finance a vehicle, you typically need a very high credit score in order to lease a car.

How Do I Raise My Credit Score?

If you want to raise your credit score before financing a vehicle, you have options. The most important step is to reduce credit use, which means paying down debt. You want your credit usage to be under 30%, if possible. You can also do this by increasing your credit line without utilizing more credit.

Apply for Vehicle Financing in Houston, TX

No matter what your credit score might be, you’ll find the support you deserve at Helfman Dodge Chrysler Jeep RAM FIAT. We provide financing options with no credit checks, along with bad credit or no credit financing support. Submit your finance application today.