Are you car shopping near Overland Park, KS but you have less than stellar credit? If you wonder how you are going to make your dream of driving home in a quality new or pre-owned Hyundai a reality with your bad credit score, then turn to McCarthy Olathe Hyundai! Our in-house finance department in Olathe, KS works with Kansas City area car buyers of all credit levels and financial situations; we want to make you feel comfortable whether you have great credit or poor credit! Continue reading to learn how to apply for sub-prime auto loans and what our bad credit financing process entails.
Here at McCarthy Olathe Hyundai, we get many questions regarding bad credit financing, so let us address some common concerns from car buyers with low credit scores. If you are curious as to whether you qualify for sub-prime auto loans, know that you have come to the right place! When determining a car buyer's eligibility, lenders take into account a number of factors, including the following aspects:
To initiate the bad credit financing process, first apply for auto loans using our secure online credit application. Our auto finance specialists will then run a credit check to understand your unique financial situation and current credit rating better. Lenders use credit checks to determine if you have had any bankruptcies, foreclosures, repossessions or missed payments, as well as to understand your credit history better. Be sure to obtain the latest copy of your credit score to check for any errors and so that there are no surprises once you apply for bad credit car loans.
Auto lenders like the finance staff at McCarthy Olathe Hyundai will also look at the amount of money you want to borrow and weigh your ability to pay back a loan over time. Your debt-to-income ratio can be calculated to help determine your current financial standing and your ease of staying up-to-date on car loan payments.
If you are shopping for a new Hyundai here at McCarthy Olathe Hyundai, then you may find "friendlier" loan terms, since newer cars typically offer more favorable terms. If you are interested in a used car for sale, our finance team will work with you to settle on credit terms that are a win-win for all parties involved.
The greater the amount of money you can provide as a down payment the better, as it will be more likely that you can find viable bad credit financing options with a substantial down payment. So start putting money aside for your new Hyundai or pre-owned vehicle today, and consider trading in your car to provide a larger down payment on your new vehicle.
McCarthy Olathe Hyundai is your bad credit car dealership near Kansas City and Overland Park, KS, so shop for your next vehicle and contact us about sub-prime auto loans today!