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Financing A Car With No Credit? Need Bad Credit Car Finance Options?

Learn How to Get a Car Loan with Bad Credit, No Credit or New Credit

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What Is Credit and How to Get a Bad Credit Car Loan?

Are you unsure about how to get a car loan at our bad credit car dealership in Columbus, Ohio or worried about your low credit hindering you from getting a car loan? You are not the only one, many people have the same questions, and we’ve compiled a group of the most common questions we could find. Just because you have a bad credit score doesn’t mean you can't get a loan and there are ways to improve your credit.

As many different reasons are taken into consideration when a creditor decides whether to give you a bad credit car loan. The four reasons below play a huge role in the decision process:
  • Application Information – Information such as employment, residency and income information.
  • Credit History – Information of all other credit in your file.
  • Down Payment – The amount of money you are willing to put toward a vehicle or the total value of our trade.
  • Vehicle Selection – The year, cost, and the mileage of the car.

To learn more about loans visit us at our bad credit car dealership in Columbus, Ohio to find out more. We will try to provide you with any additional questions you may have about bad credit car financing. Below are some additional frequency asked questions that others had about bad credit car loans.

How Do I Improve my Credit?

Poor credit can be managed and improved as long as you haven’t had any major issues like bankruptcy. Things, like keeping your credit card balance low and paying off debt, can be effective as well. If you consistently max out your credit cards and hold onto your debt, you won't be able to fix your credit score efficiently. Paying bills such as; utility, car and housing payments on time will help you in the long run too.

What Are Things That will Hurt My Credit Score?

The most apparent issue is keeping a high credit card balance and not paying it off. When you let debt sit your credit score will tank. Having too many credit cards may also hinder your credit as you may forget a balance on one card and never pay it off. Keeping one card and managing it for essentials is a good practice.

Other things that may hurt are Divorces. You spend a lot of money on legal fees and agreements. Spouses sometimes can be left with huge amounts of debt that is hard to overcome.

And last but not least, having no credit history can hurt as well. If you’ve never had credit to build off of your score will be low. Creditors won’t have sufficient information to base a history off of, and you simply will be stuck with a low score.

What if I am a first-time car buyer?

At our Bad Credit Car Dealership in Columbus, Ohio it's our job to help any first-time buyer get the car they want. Everyone situation is different, but our finance team will work with you to help get a bad credit car loan. So stop in and see us at our used car dealership near you.

What Does Buy Here Pay Here Mean?

“Buy Here Pay Here,” or “BHPH,” which is when a car loan is obtained directly from the dealer and not a 3rd party, like a bank. Instead, you get a loan directly from our used car dealership in Columbus, Ohio.

How much is the Down Payment?

Down payments depend on the vehicle. You may have to pay a larger payout for a nicer car with more features. We will work with you to find out the best options and get you into the car you want. Roughly 20% of the car price is a good assessment.

What Is APR?

Annual Percentage Rate or APR is the cost or fee; you pay for borrowing money each month. It's calculated on an annual basis as a percentage of the total you borrowed, and you make the payments each month. The lower the APR, the better.

Bad Credit Auto Loans in Columbus, Ohio

Are you in the market for a car dealership that accepts bad credit in Columbus, Ohio? 56 Auto Sales is the place for you, we offer bad credit car loans if you qualify. We will work with you to get you the car of your dreams. We have a wide selection of used trucks, cars and SUVs for you to choose from and our finance center is there to help get a bad credit car loan. If you have a bad credit still come visit us, we will work with you to obtain the car you want.

We have cars all different car ranging in different prices to help you and your family afford a car within your price range without breaking the bank. Bad car Financing allows you to get the car you want even with a poor credit score. If your credit improves, we can help you refinance and make the payments more manageable.

So stop in at 56 Auto Sales today at 781 OH-56, London, OH 43140. We will help you find the vehicle that suits your budget and needs. We are open 9:00 – 6:00 Monday through Friday and 9:00 – 12:00 on Saturday. So stop in or give us a call at (740)852-2330 we will be glad to assist you.
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