Does Hyundai Finance Bad Credit?

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Whether you’re dealing with a low credit score or haven’t had time to build a credit history, you may be worried about your chances for financing a new — or even used — Hyundai model for sale in Hampton. Fortunately, past credit trouble shouldn’t stand in your way when it comes to purchasing the new car you need! At Hyundai of Hampton, our team of friendly auto finance experts is committed to finding you a vehicle that fits your needs, including bad credit financing. Read the guide below to learn more!

Get Better Rates and Save Near Newport News

You can definitely get approved for bad credit financing, but keep in mind that you’ll likely have to pay a higher down payment and higher interest rates. Just be sure to account for those added costs when you set your budget! Here are a few more tips to be aware of before you apply for financing in Suffolk:

  • Fully explore your options, and don’t assume you won’t be approved. As you shop, be sure to ask lots of questions. You might assume that you’re only going to get one offer. In fact, you’re more than likely to receive multiple offers, even for bad credit financing! Keep asking questions and wait until all of your offers arrive before making a decision.
  • Revive your credit score. Before you apply, do what you can to boost our credit score. The higher your score, the better your interest rates — and every point counts!
  • Set your budget and stick to it. Be sure that your budget accounts for all car-buying costs, and leaves room to spare. Then make sure you don’t pay more! Use our payment calculator tool for help estimating your monthly payments.
  • Consider leasing. Hyundai lease deals offer lower monthly payments, and it may be easier to be approved for than bad credit financing. Lease-to-buy options allow you to purchase the vehicle after the lease term ends.
  • Consider used vehicles.Pre-owned models offer the reliability and features of new models, but you’ll pay a far lower price. Certified pre-owned models are a great option if you’re looking for like-new performance.

How to Apply for Hyundai Financing

After you apply for financing online, use the following guidelines to get started:

  1. Calculate your budget to see how much you can afford to pay per month.
  2. Save up for a bigger down payment if possible.
  3. Do what you can to boost your credit before applying for a loan.
  4. Prioritize finding a car with everything you need, and look for extras only if you’re under budget.
  5. See how much you can save with lease deals, used car specials, and new vehicle offers and incentives.
  6. Ask questions!

Don’t Let Bad Credit Hold You Back in Hampton 

At Hyundai of Hampton, we’re committed to finding you a great price on the Hyundai model you need most. Contact us or stop by today to speak with a friendly auto finance expert about our flexible financing terms, and all the ways you can save on your next vehicle purchase in Norfolk, including trading in your current model.

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