While it may seem impossible to get a car with bad credit and no money down, it’s really not. It might not be easy, but it’s not completely improbable. Try a few of the tips below to give yourself the best possible chance!
Try To Boost Your Credit
It’s obvious if you didn’t have bad credit in the first place you wouldn’t be struggling so hard to get a car, which is why the very first, and often best, step to getting a car for no money down is to try and improve your credit as much as possible before you actually apply for your financing. Do everything you can, from paying your bills on time, to trying to eliminate smaller debts. Anything that will bring your credit score up even just a little will be worth it, and will make getting a car with no money down much easier.
Ask A Friend/Relative To Cosign
Trying to get your credit score improved but it’s still not enough? Consider getting a cosigner! So long as you know you’re going to be able to make your payments on time, and you have a friend or relative with good credit who’s willing to help you out, this can be a great option for getting a car with bad credit and no money down.
Trade In Your Old Car
If you can’t get a cosigner, and your credit isn’t improving fast enough, another option is to trade up, meaning you essentially offer your old car as down payment instead of cash. This option, however, will vary in outcome depending on the vehicle you’re trading. The greater it’s worth, the more money you’ll be able to put down. Put down enough and it may even lower your monthly payments!
Consider Putting Some Money Down
If you don’t have all the money you need for a down payment, but you do have some, you might be able to make a partial down payment instead, or take some time to save up a little more so you have what you need. This understandably isn’t the easiest option, but when you consider the benefit of being able to get your next vehicle all on your own without any help from anyone, you’ll be better off. Plus, the more money you put down initially, no matter how painful it may be, the less you’ll have to pay over the course of your loan, and every month on your bill.
Upgrade Today at Suburban Auto Finance!
Can’t wait to get started? Learn more about our convenient bad credit financing and massive car dealership network at Suburban Auto Finance. We’ll not only make sure you can afford your next used car no matter how bad your credit is, we’ll help you find the very vehicle you’ve been looking for to change your life!
If you are looking for the best in auto financing, no matter what your current credit situation is, choose Suburban Auto Finance and learn how we can help you get back behind the wheel in no time. At Suburban Auto Finance, we understand everyone deserves the independence of having a reliable vehicle, and our mission is to work as hard as we can to make that happens for you.