Can You Finance A Car With Bad Credit?

Credit History

Are you a first-time car buyer with no real credit history? Maybe you are in the process of improving your credit score. No matter your financial status, all Buford drivers deserve a reliable automobile. You may be wondering if financing a car with no credit is a possibility for you, or if you can get a Kia with bad credit, in which case, the answer is yes! Kia will finance bad credit, and Kia bad credit loans can be custom-tailored to remain affordable for your monthly budget. Granted, the process of financing a car with bad credit or no credit may be a bit more complicated than if you had a strong credit history, but the finance team here at Lou Sobh Kia is dedicated to finding a solution to get you behind the wheel. Learn more about financing a car with no credit and Kia bad credit financing with us below.

Tips for Financing with No Credit or Poor Credit

If you’re wondering if you can get a Kia with bad credit or no credit around Roswell, you’ll be relieved to know that Kia will finance bad credit and no credit. If you decide to take on a finance agreement with no history of credit, be mindful that you will likely need to prepare for a sizeable down payment. Additionally, your agreement may include a higher-than-average interest rate. Establish your budget before you visit the dealership, but leave some room for negotiation. Keep these tips in mind when attempting to finance a Kia with bad credit or no credit:

  • Don’t Assume You Won’t Be Approved: If your credit score needs work, you may assume that an unfavorable financing agreement is the only option you have. This may not be the case. Discuss all of your options with our finance experts to see what deal will work best for you while you improve your credit.
  • Improve Your Credit Score if Possible: A great way to improve your financial situation across the board is to improve your credit score when possible. Establish action plans to pay off any outstanding debt, as many lenders will be happy to work out a payment plan. If you have subpar credit, you can get qualified with our lending team to get behind the wheel of a reliable model for your Buford commute.
  • Apply for Loans the Smart Way: Every financing application you submit will have a negative impact on your overall credit score. If you shop strategically, placing all of your financing applications within a 14-day window will limit the potential damage to your credit.
  • Don’t Accept Just Any Offer: If you’re considering financing a car with bad credit, it’s important to note that you have the freedom and flexibility to explore offers from lenders across Roswell. The first offer that comes your way may not be the best, and will likely not be the only one available to you. Bad credit car finance offers can be sought from many financial institutions, as lenders are often willing to help you improve your score.
  • Be Prepared for Higher Costs: Be ready for sizeable costs associated with your bad credit car finance agreement. The opportunity to bring home a quality vehicle to Alpharetta is exciting, but be aware that you may need to save for a large down payment.

Leasing vs. Financing

If you don’t have credit or your score is lackluster, one thing to keep in mind is that it may be much easier to negotiate for a lease. Lenders tend to be much more relaxed about leasing. If you’re unaware of the differences between leasing and financing, keep reading.

  • When you lease, you rent your vehicle for several years. You aren’t taking out a loan on the full value—just the estimated amount of depreciation across the duration of your lease term. This means that you’ll enjoy lower monthly payments and won’t have to make as large of a down payment. That said, you don’t build equity.
  • When you finance, you take out a loan on the full value of the vehicle, which will require you to make a larger down payment, larger monthly payments, and pay more sales tax. That said, you retain the right to sell the car at any time.

Apply for an Auto Loan at Lou Sobh Kia

Now that you know that Kia will finance bad credit or no credit and that our Kia bad credit loans can be tailored to fit your monthly budget, give us a call at (678) 960-2777 for help. When you visit our finance office in Cumming, you will see that we do things differently. You can get a Kia with bad credit, and we make obtaining a bad credit car finance agreement obtainable to our friends and neighbors in greater Alpharetta because we believe every driver should be able to have the transportation we need, regardless of their situation. Contact us today for one-on-one car buying guidance, or you can apply for financing online to get pre-approved.

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