Does Credit Matter when Applying for Financing?

Our Jeep® finance team uses your credit history and credit score to determine what you qualify for in terms of a car loan. The better your credit is, and therefore the more firm the proof that you are reliable to pay back loans, the lower the interest rate will be and the smaller the required down payment will be. 

Essentially, the lenders in this situation use your credit as an idea of how risky it would be to give you the loan. If you don’t have much credit history, we can still work with you. However, getting a cosigner may be in your best interest. 

What to do if you have Poor Credit

When you have any kind of bills or loans, it is important to pay on time and to pay the entire minimum payment or more. If you are tight for funds,  then it is always better to call your lenders and ask for an extension, a different payment plan, or another means to make those payments without missing them entirely.

When you miss a payment or pay late, this can affect your credit score. Your credit score is the number that sticks with you as you continue to pay bills, take out loans, and utilize credit cards in the future. 

How to Start the Financing Process

If you’re ready to take the leap and finance a new or pre-owned car, you can start with our finance application. Once you know what you qualify for, nailing down that precise new car budget will be that much easier. At Hillview Motors in Greensburg, we look forward to helping you on your journey toward your next new vehicle.