Does Hyundai Finance Bad Credit?

Credit

Car shopping in Royse City can be stressful. Factor in trying to secure bad credit financing, including not only low credit scores, but also a non-existent credit history, and the stress level increases exponentially. Shopping for a reliable vehicle and trying to figure out bad credit financing in Commerce doesn’t have to be a struggle. Greenville Hyundai created this overview of Hyundai financing options to make the car buying process easier!

Looking to finance one of our new vehicles, like the Hyundai Elantra, or a certified pre-owned car? Learn more about bad credit financing with our finance team at Greenville Hyundai! Then be sure to check out our pre-owned vehicle specials!

What to Expect from Bad Credit Financing

There are a few things to anticipate when you’re applying for Hyundai finance with bad credit. Typically, a larger down payment is required when you have bad credit financing, and you can expect your interest rates to be higher than the average Rockwall driver. Having a budget with plenty of wiggle room is necessary. When applying for Hyundai finance with bad credit, also keep these items in mind during the car buying process in Greenville:

  • Have a set budget and know your credit score. As you apply for Hyundai finance, your credit score will be lowered, temporarily. Keep all your loan applications within a 14 day period within a 14-day period to minimize the damage.
  • Don’t accept the first financing option offered to you. Ask questions and don’t assume you won’t be approved. Do yourself a favor and shop around for other rates that might be a better fit for you and your budget.
  • Work on raising your credit score. Your credit score can be rebuilt a number of ways, like paying off all outstanding debts and using a credit card that you payoff every month.
  • Keep price negotiation separate from financing. Your first offer won’t be the last.
  • Expect a higher cost. Again, higher interest rates and bigger down payments are highly possible with bad credit financing.
  • Explore leasing. Leasing might be a better option, despite costs being higher, but can often be cheaper than financing a vehicle.

Learn More Hyundai Finance with Greenville Hyundai!

To learn more about Hyundai Finance, contact our finance team at Greenville Hyundai! Apply for financing online and see if you’re pre-approved! Also, find out the value of your trade-in before you explore our crossovers/SUV inventory!

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