Bad Credit Car Dealership

For many, credit score feels like a deal-breaker when looking at new cars. While credit does play a role, our bad credit car dealership can help you secure your favorite ride, no matter where your current credit stands.

After many years of successful dealings with lenders around Athens, Elkmont, and Huntsville, Bill Penney Mitsubishi can guide you through the financial process, ensuring you secure the right loan along the way.

We thought an overview of what credit is all about, how it impacts car-buying, and how we can help would be worthwhile for those seeking a new model!

Using Credit to Secure a Loan

Car Loan Huntsville AL The purpose of credit––and more specifically, your credit score––is for lenders to identify trustworthy candidates to give a favorable loan to. The higher your credit score, the more trustworthy you are in the eyes of lenders.

So, does that mean it’s impossible to secure a loan with bad credit? Not at all.

First, credit is often used to set loan rates, not determine whether someone gets a loan at all. So, if your credit score is low, one of the areas our advisors will address is helping you secure favorable rates.

Perhaps more importantly, there are ways for you to improve your credit over time, making it possible to secure a loan with better rates!

Improving Your Credit Score

If you begin to speak with our advisors, they’ll layout a plan for you to follow over time, one which will help you slowly but surely boost your credit score.

One of the first rules of building a credit score is doing all you can to pay off debts in full each month. The more you pay off, the more trustworthy you are to lenders. If possible, consolidate all of your debts onto a single card, as opposed to spreading them out between a handful of cards.

Finally, try knocking out small debts as soon as possible. It may seem miniscule, but getting any debts off the books quickly is going to help improve your credit standing.

HOW TO FINANCE A CAR & REBUILD YOUR CREDIT

Customizing a Plan for Your Needs

Credit HelpPerhaps more than anything, the advisors in our financial center know how to tailor payment structures, loans, and anything else to your needs. Regardless of your credit, these experts can lean on years of experience to create a specific plan you’ll understand and enjoy.

One of the best ways to get started online would be to fill out our pre-approval form, a form which gives our advisors a better understanding of your background.

Bad Credit? Come to Our Helpful Dealership!

At Bill Penney Mitsubishi, helping those around Huntsville, Athens, and Elkmont build credit is part of our daily routine.

Whether you’re going to build credit over time or want a car right now, we can help you secure a loan for your favorite vehicles. Contact us today!