How to Get a Car Loan with Bad Credit

Many things in life affect your credit score, and sometimes a few missed bills or unpaid loans can give you a poor credit rating. However, if you need a new vehicle for your Brook Park job, you may be wondering “Can I get a car loan with bad credit?” The answer is yes! When you shop with Metro Toyota, you can learn how to get a car with bad credit. Read more about the steps you should take to secure a car loan, then contact our team when you’re ready to begin the car buying process. 

Get a Car Loan with Bad Credit in Five Steps

Before you head to the nearest Brunswick-area dealership, you should write out a plan and a budget so you know you’re making the right financial decision. Metro Toyota has a host of online finance tools that can help you calculate your payments and find the value of your current vehicle so you can walk into the dealership prepared.

1. Determine how much you can afford to pay per month based on your budget.
2. Make a bigger down payment if possible.
3. Try to improve your credit report before applying for a loan.
4. Be honest about what kind of car you should buy, and don’t get more than you need.
5. Ask questions!

Improve Your Credit Score

Another thing to consider is improving your credit score before you apply for a loan. If you have any small loans or bills you can pay off before you get a new vehicle, your credit score will improve. If you have the ability, you can also use your credit card for small payments that you can immediately pay off. Once you take out a car loan and consistently make your payments in full and on time, your credit score will continue to improve! After a while, you may even be able to refinance your car loan for better rates and a lower monthly payment. 

How Do You Finance a Car with Bad Credit?

The Metro Toyota finance center makes it easy for Cleveland drivers with poor credit to secure an affordable car loan. All you need to do to get started is browse our online model showroom for the perfect Toyota model for your Parma commute, then apply for financing using our handy online form! Once you’ve submitted your form one of our finance experts will be in touch to work directly with you to find a payment plan that works with your budget. 

Finance Your Next Car Today!

Getting a car loan with bad credit will be a little difficult, but it’s not impossible. Learn more about securing a car loan with poor credit with the team at Metro Toyota, then explore our new vehicle specials to save on your next Toyota purchase. Looking to save even more? Try our used vehicle inventory or our staff picks of vehicles under $10,000!