Can I Get Low Credit Financing?

a car owner learning how to get low credit financing
If you’re wondering about how to get a car with bad credit, you’re in the right place. Here at John Elway's Crown Toyota we offer Toyota bad credit financing, which allows you to get a car no matter your credit score. Learn more about low credit financing from our finance team here, and you’ll be ready to finance your car in no time and get onto the streets of Rancho Cucamonga.



How Can You Finance a Car with Bad Credit?

It can actually be quite easy for Eastvale area drivers to finance a car with bad credit. Here at John Elway's Crown Toyota, our finance team always wants to make it as easy as possible for customers to secure a bad credit car loan. We know that sometimes people have unavoidable circumstances, and that everyone needs a car, so don’t worry! To get started, apply for financing online and get pre-approved. Then, our finance experts can work directly with you to make a payment plan that works for you. By checking our payment calculator online, you can get an idea ahead of time.

How To Get a Car With Bad Credit

Before you take out a bad credit car loan, be sure to get these materials together beforehand. They’ll help ensure that you’re making the right financial decision for your situation.

  • Determine how much you can afford to pay. Don’t just think about what you can borrow, also think about the additional costs to maintaining a vehicle. These might include things like annual registration fees, car insurance, maintenance costs, and gas costs. 
  • Make a bigger down payment if possible. The larger the down payment you make, the less you actually pay overall. This is because the remaining cost of the car accrues less interest. There’s also another reason: when your credit isn’t great, a larger down payment makes a good impression on lenders, making them more likely to give you a loan.
  • Try to clean up your credit report before applying for a loan. Errors on your credit report may drag your credit score down. Check for them, and if you catch any, dispute them. It also helps if you pay down any outstanding debts. Even making a small dent will improve your credit score.
  • Be honest about what kind of car you should buy. Your goal is to finance a car that has an affordable payment, not buy your dream car. A car you can afford will mean much less stress about payments, and a much easier time finding financing.
  • Shop around with lenders. Apply to a variety of lenders and compare the rates of those who approve you. Some may have lower monthly payments, others may have lower interest rates. Keep in mind that the higher the interest rate, the longer you’ll be paying and the more you’ll pay overall.

How to Get a Car with Bad Credit: Improve Your Credit Score

What’s great about getting a car loan with bad credit is that by consistently making your payments on time each month, you’ll actually improve your credit score. This is one reason that it’s so important to find a budget that you can manage! Once you improve your credit profile and credit score, you’ll find it easier to get loans for things like a home in Fontana or a small business, and you’ll be able to get lower interest loans and credit cards.

Get Toyota Bad Credit Financing at John Elway's Crown Toyota!

Are you considering getting Toyota bad credit financing at John Elway's Crown Toyota? We’d be happy to help you! Value your trade online, and check out our new vehicle specials to help you get a better deal right off the bat. If you have any questions, feel free to contact us and we’ll help walk you through the process. Then, you can come to our Ontario dealership and buy your new car or even shop from home!


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