Bad Credit Car Dealership
It's time to start shopping for a new vehicle, so what's holding you back from taking that first test drive? Your credit score? Here at Dan Cummins of Georgetown, we believe that shopping for a car should be exciting and not stressful. That's why we're proud to be a bad credit car dealership, but what exactly does this mean?
We know that financial turmoil doesn't discriminate and that anyone can fall on hard times. However, we don't believe that those financial setbacks should prevent you from getting behind the wheel of a reliable vehicle. After all, you need reliable transportation to get to work, earn a paycheck, and pay your bills, all of which are vital to ending the vicious cycle of bad credit.
To help you back on the road to financial success, we're a bad credit car dealership that works with a wide range of credit histories. Whether you have a low credit score or no credit history at all, we'll work with you to find the best lease or loan for your needs. By financing with us, you can rebuild your credit and drive with confidence knowing that the Dan Cummins team is here for all your transportation needs, mile after mile.
Financing Options
Did you know that you can get a car loan with bad credit? Having a low credit score doesn't entirely disqualify you from a car loan, but it drastically affects the interest that you'll pay on the loan. A low credit score means that you are a higher risk for a lender and that there's a chance, based on your credit history, that the loan might not be repaid. To mitigate that risk, the lender charges a higher interest rate. For example, you might be charged around 18% compared to the average 5% rate for someone with an above-average credit score.
Before we get ahead of ourselves, it's important to check your credit before you start shopping for a vehicle. Knowing your credit score tells you what to expect and what you can afford, which leads to saving for a down payment. Even if you finance a vehicle, saving for a down payment can help you qualify for a loan since you're paying for a portion of the vehicle upfront. This also reduces the amount of money you're borrowing from the lender, which means a smaller loan balance.
As you determine your budget and an affordable down payment, our finance team will help you navigate your finance options. Because we specialize in working with customers with low credit scores or no credit history, we work with a variety of lenders. This means that there's a great chance that we can find a lender that will approve you for a loan at a competitive rate that you can afford. Our goal is to secure your credit approval and help you stay within your budget so that you're on the road to financial success when you drive off the lot.
Improving Your Credit by Buying Used
One of the best ways to improve your credit score is by buying a used vehicle. Used vehicles are a great option because they offer exceptional value. A new vehicle starts to depreciate or lose its value the moment it leaves the lot, which is why buying a used vehicle is a great way to make your money go further. You'll find that you can afford a better-equipped vehicle on the used lot than what your budget allows on a newer model. But what does this have to do with your credit score?
Your credit score is calculated across five categories - payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit (10%). When you purchase a vehicle, this influences several categories - new credit, amounts owed, and credit mix - or 50% of your overall rating. As you make your payments on time and in full, you'll also see your credit score rise since your payment history and your length of credit history are directly affected.
When your credit history is marked by a string of late payments, buying a used vehicle and making your payments on time can drastically improve your score. You're not only financing a lower amount than what you would if you purchased a new car, but you're staying within your budget and setting yourself up for success. Financing a used car also adds a healthy mix of credit to diversify your credit history and shows that you can responsibly handle your debt.
So Many Options
Now that you have a better idea of your financing options and how buying a used vehicle can improve your credit score, it's time to start your search. What type of vehicle can you get if you have bad credit? You have plenty of options when you shop with us.
Whether you're building your credit history or working to improve your score, you aren't limited to any particular make and model. We believe every customer should have plenty of options, and that's why we carefully select our inventory to ensure there's a model for every budget and driving need. That's why we have one of the largest selections of used cars, trucks, and SUVs in Kentucky.
You'll find our used inventory is constantly rotating, which means a wide variety every day of the year. If you're looking for a capable workhorse that can tow a heavy load, then you'll want to check out models like the Chevy Silverado, Ram 2500, or GMC Sierra. For an efficient sedan that can navigate your daily commute, be sure to test drive popular models like the Nissan Maxima, Chrysler PT Cruiser, or the Toyota Camry. If you need more room for passengers and cargo, you'll find that and much more on SUVs like the Toyota RAV4, Ford Explorer, and Chevy Tahoe.
Whatever you're looking for, know that you have so many options here at Dan Cummins of Georgetown. Our unmatched selection and our exceptional customer service set us apart from other dealerships in the area, but it's our history of working with customers to rebuild their credit that we're proudest of. That's why we work closely with you to help you find a vehicle that meets not only your driving needs but one that also fits your budget.
It's Time to Visit Us!
It's time to get excited about buying a car. Regardless of your credit history, we're here to help you find a great vehicle that will serve you for many miles down the road. But that search can't start until you venture over to the dealership and introduce yourself to the team.
While you're here, you'll see firsthand everything that we have to offer, from our extensive selection of vehicles to our exceptional team that will guide you through every step of the process. You'll see our state-of-the-art service department that can handle all your vehicle's maintenance and repair needs. We'll also introduce you to our Lifetime Powertrain Guarantee, which is designed to give you added peace of mind when you purchase a new or used vehicle from us.
Are you ready to start shopping? It's time to drive home happy in a vehicle you love, and that begins with the Dan Cummins of Georgetown team. We can't wait to meet you and help you get back on the road to financial success!