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

Here at University Mazda, we are committed to helping our Albuquerque neighbors get on the road in a car you love. So, if you are asking yourself, “how can I get car financing with a bad credit score,” our helpful finance team is here to help you explore your options. Read on below to discover how to get a car with bad credit, no credit, or whatever your current financial situation may be. 

How to Get a Car Loan with Bad Credit

First and foremost, we recommend taking the time to build your credit if you can spare the time to do so. We also understand that time is a luxury and not all situations can afford to do this. Either way, not to worry! There are feasible, simple routes to getting you out on Rio Rancho roads in a new Mazda despite weak credit. Here’s how to get a car with bad credit:

• Knowing your budget is the simplest and most useful advice we can give. When you know your budget, you know what options to move on from and what options to explore. Additionally, this will prevent you from getting in a tighter pinch down the road. 
• Consider a co-signer if your credit score is weak or non-existent. A co-singer allows you to “borrow” the credit score of a family member or gracious friend to lower the risk to the lender. 
• Plan to refinance when your financial situation improves. Be sure to ask if refinancing later is an option. The freedom to refinance your loan could help relieve your financial burden once your funds increase.

Is Financing Right For You?

Asking “how to get a car loan with bad credit,” may be one step further than you need to go. There are other ways to go about how to get a car with bad credit without getting a loan at all. Contact our helpful University Mazda finance department to discover if leasing may be a better option for you. Leasing typically offers lower monthly payments which may be more manageable for your current circumstances!

Learn More With the University Mazda Finance Team

We will be happy to guide any of our Farmington area neighbors through the process of how to get a car loan with bad credit. If you’d like to begin the financing process right now from the comfort of your home, you apply for financing online and see if you can get pre-approved today! For more information about current financing incentives or lease deals, don’t hesitate to reach out.