How to Finance a Car with No Credit or Bad Credit

If you’re a first-time car shopper with no credit or you have a credit score that needs work, you may be wondering if you can finance a car with no credit or bad credit. The answer is: yes! While the process will be a little more complicated than financing with an established credit score or a good credit score, Kennesaw drivers with no credit history or bad credit can finance a vehicle. Learn more about financing a car with bad credit or no credit with Marietta Toyota below, or contact our team if you have any specific questions.

Bad Credit or No Credit Financing Tips

Shopping for a new car with bad credit or no credit will be more complicated than shopping with a fair credit score or an established credit score. Therefore, if you have the opportunity to improve or establish your credit score, you should try and do so. However, if you’re in need of a vehicle then read our tips below to see how to finance a car with no credit.

Expect a Higher Down Payment & Interest Rate
When you finance a vehicle with no credit or bad credit in Atlanta, your down payment and interest rates will be higher than average. The best thing to do in this situation is to go into the dealership knowing your budget and leaving some wiggle room to accommodate these costs. You can use our finance calculator to help you plan your monthly car payments and find the right vehicle for your budget.

Explore Your Options
If you have no credit or bad credit, you may believe that only one finance option is available to you. However, this isn’t alway the case. Discuss your credit score with a finance professional to see what other options are available to you.

Take Steps to Improve Your Credit Score
If you have the opportunity to establish a credit score or improve your credit score, you should do so. If you have bad credit, work to build up your credit score by paying off small loans or making small payments on existing loans. If you have no credit history, using a credit card to make small purchases you can immediately pay off is a great way to establish a good credit score.

Apply for Loans Within 14 Days
When you apply for auto financing, your credit score may lower slightly depending on how many applications you apply for in Smyrna. To mitigate the potential damage to your credit score, make sure to apply for your loans and accept one within a 14 day period.

Don’t Accept The First Offer
Just because you’re looking to finance a car with bad credit or no credit doesn’t mean you have to accept the first offer you receive. Take your time to shop around for other offers, then read the fine print carefully before selecting the right one for you. Keep in mind that many dealerships offer in-house financing or financing through multiple lenders, which will give you a better chance of financing a car with no credit or bad credit.

Get No Credit or Bad Credit Car Finance at Marietta Toyota

The finance team at Marietta Toyota is committed to helping you get the vehicle you need at a price that will fit your budget. Visit our Marietta showroom to explore our vehicles and talk with our finance team about how you can finance a car with bad credit or no credit. Make sure to also browse our car buying tips for more information on the car buying process like what a lease buyout is. We look forward to putting you behind the wheel of a new Toyota today!