If you have bad credit and need a car loan, the going can be tough, but it is possible. You just need help. Elgin Hyundai has the experience and credentials that can help you secure a car loan, even if your credit is less than perfect.
The Right Partner
You need a dealership that has a variety of inventory at different price points and experience working with customers with credit issues, so you don’t waste your valuable time going from one dealer to another. Elgin Hyundai is a unique resource for you. Our Challenged Credit Program gets people into a new or pre-owned vehicle, even if your credit is poor or nonexistent. We can work with any credit situation to create a workable payment plan, and that starts with choosing the right car at the right price, and then crunching the numbers with our credit experts.
Get Organized
So, how bad is your credit? Before you visit Elgin Hyundai, do some research to understand your situation and get an idea of what you can afford. Make sure your credit score is accurate, and start resolving any open issues. You can get free copies of your credit report once a year by contacting AnnualCreditReport.com. Also, get online and access some auto finance calculators to help you understand interest and how it will affect your payments. These calculators will give you a clear picture of your price range.
Helpful Hints
If you can come up with a down payment or trade-in, that will help lower your costs and show the dealer that you’re committed to the purchase. You also may be able to find someone with excellent credit to co-sign your loan, which will make the deal much more attractive to the lender. Rebuilding your credit is the ultimate goal, and you can take steps to do that:
- Pay off your credit cards, and keep monthly balances low.
- Pay your bills on time.
- Don’t close accounts - keep paid off debt on your credit report to show success.
Bad Credit Financing
Elgin Hyundai is here to help if you need a car loan and have bad credit. Fill out our financing application online if you’d like to get started that way, or come on down to our dealership, and we’ll assess your situation. Don’t stress! We’ll come up with a solution that works for you. Contact Elgin Hyundai today!
