Bad Credit? Get Approved For A Car Loan In Lebanon, NH
Bad credit doesn't automatically disqualify you from buying the car you want. Work with the right lender, and your financial doors could open wide! McGee Hyundai of Lebanon may be able to help you get a car loan with bad credit, even if other dealerships have turned you down. We're proud to support the drivers of Upper Valley, NH, with fantastic inventory, competitive prices, and bad-credit vehicle financing when needed.
The Basics of Bad-Credit Car Financing
- Bad credit is most often caused by late credit card payments; brand-new cardholders can also have low scores due to a lack of purchase and payment history.
- Having low or bad credit doesn't have to stop you from buying a car, but it does mean you need a flexible loan partner like McGee Hyundai of Lebanon.
- Auto loans for poor credit tend to come with higher interest rates and may include larger down payments, but they're still possible to obtain.
Easy Auto Loans for Bad Credit: How to Increase Your Chances
The majority of drivers can qualify for car loans with bad credit at our dealership in Lebanon – you'll just have to be flexible with your vehicle model, down payment, and loan duration. Even if another lender has denied you a loan because of bad credit, you can improve your chances of securing Hyundai auto financing in Western New Hampshire by following these guidelines:
- Pay down any current debt.
- Try to keep your credit utilization below 30%.
- Request a higher credit limit.
- Make frequent payments instead of paying once per month.
- Ask a friend or family member to co-sign your financing agreement.
- Choose to buy your car at our Western New Hampshire dealership!
McGee Hyundai: Your Key to New Hampshire Auto Financing
Bad credit doesn't make you a bad person or driver, and it doesn't make you any less deserving of a reliable vehicle. Choose our Western New Hampshire dealership and you can shop from the comfort of home with our flexible car buying experience.
We carry a selection of pre-owned cars under $20K that might be perfect fits for your credit needs. Our inventory often includes popular Hyundai models, such as the Elantra sedan and Santa Fe SUV, along with options from other automotive brands.
Need some cash fast? You might also be able to trade in your car with us to help offset the down payment on your next vehicle. We pay fair-market value and can finalize your trade quickly.
Frequently Asked Questions About Auto Loans and Bad Credit
How much down payment is required for a bad credit car loan?
Your specific down payment will depend on your credit score and the vehicle you want to finance. Often, we ask for a minimum down payment of 10% or $1,000, but this is not a hard-and-fast rule. We realize this answer sounds vague, but the truth is, you'll need to review your financial and credit status with our experts to determine the size of your down payment.
Can I refinance or trade in my car with bad credit?
Yes, it can be possible to refinance an existing automotive loan for better terms, especially if your credit score has improved since that loan began. You may also be eligible to trade in your existing vehicle at our Western New Hampshire Hyundai dealership to help offset the cost of a down payment. Get personalized answers and more details when you contact our finance department.
What documents do I need to apply for a bad credit auto loan in Lebanon, NH?
To make the process as smooth as possible, we recommend bringing your most recent pay stubs, W-2s, 1099s, and bank statements to your financing appointment. Proof of address, like a utility bill or mortgage statement, is also helpful. You can also ask a friend or family member who has a high credit score to co-sign, so you can get a car loan with bad credit.
