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Subprime Credit Auto Loans near Linden MI

Subprime Credit Auto Loans near Linden MI Subprime Credit Auto Loans near Linden MI
When you’re considering buying a vehicle, you’ll probably need a loan. A subprime credit auto loan is one option for those drivers without great credit or with no credit score. LaFontaine Chrysler Dodge Jeep Ram (CDJR) of Fenton is here to answer some of your questions about subprime credit auto loans.
Linden, Michigan, drivers can read here about the basics of a subprime credit auto loan, how our finance department can help you get a loan, and some tips for improving your credit score.
Let’s get started!
Subprime Credit Auto Loan
What Is a Subprime Credit Auto Loan?
A subprime credit auto loan is a loan designed specifically for those who have low credit or no credit score. Credit scores considered subprime are typically 600 and below.
Subprime credit auto loans allow those with this type of credit score to get a loan, although they carry higher interest rates. The higher interest rate is due to lenders assuming more risk when providing a subprime credit loan.
When you apply for this type of loan, additional information besides your credit score might be required, like pay stubs or tax returns, to show that you have enough income to pay off the loan.
Finance Department

So, you’ve found the vehicle that’s right for you—what’s next? That’s where our finance department comes in. We’ll help you find the loan that’s right for you and walk you through the financing process. Our team has plenty of experience with people from all over the financial spectrum, including those who qualify for a subprime loan.

If you want to get started on financing, our website has a few tools to help you out. Our online payment calculator helps you determine if the vehicle you like fits within your budget by estimating your monthly payments. The KBB® Value Your Trade tool shows you how much you can get for your current ride.

Our online finance application lets you apply for financing from the comfort of your own home. Our team will go over your options and finalize things with you when you come into our dealership.

Tips for Improving Your Credit Score

Who doesn’t want to improve their credit score? Most people could use a few extra points. An improved credit score means access to lower-interest loans and more. We’ve included some tips, if you’re looking to improve your score!

Catching up on payments is one of the main things that can help. Making sure you are caught up on your payments ensures that no additional late payments affect your credit score. Even if you can’t pay your whole bill, paying it down can help. Maintaining a low balance on your credit card means a better credit score.

Another thing you can do is review your credit report. You can get it for free from each of the major credit bureaus:

  • Equifax
  • Experian
  • TransUnion

If you see anything that’s incorrect, report it. Having these issues removed can improve your credit score.

 
Meet With Our Finance Team Today
If you think a subprime credit auto loan might be for you or if you have additional questions about these types of loans and the financing process, reach out to our finance team here at LaFontaine CDJR Fenton.
Linden, MI, drivers can have their questions answered and apply for financing during a meeting with our finance team. Don’t forget to test drive a car or two while you’re here!

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