Are you car shopping near Madison, Alabama but you have less than stellar credit? If you wonder how you are going to make your dream of driving home in a quality new or pre-owned Kia a reality with your low credit score, turn to University Kia in Huntsville, AL!
Our in-house finance department works with Decatur, AL area car buyers of all credit levels and financial situations; we want to make you feel comfortable whether you have great credit or poor credit.
Continue reading to learn how to apply for sub-prime auto loans and what our bad credit financing process entails.
Here at University Kia, we field many questions regarding bad credit car loans, so let us address some common concerns from car buyers with low credit scores. If you are curious as to whether you qualify for sub-prime financing, know that you have come to the right place!
When determining a car buyer's eligibility, our finance team takes into account many factors, including the following:
To initiate the credit financing process, first apply for auto loans using our secure online credit application. Our auto finance specialists will then run a credit check to understand your unique financial situation and current credit rating better.
Lenders use credit checks to determine if you have had any bankruptcies, foreclosures, repossessions or missed payments. Be sure to obtain the latest copy of your credit score to check for any errors and so that there are no surprises once you apply for bad credit car loans.
During the bad credit financing process, our finance staff will consider the following factors of your loan application:
Auto lenders like the finance staff at University Kia will also look at the amount of money you want to borrow and weigh your ability to pay back a loan over time. Your debt-to-income ratio can be calculated to help determine your current financial standing and your ease of staying up-to-date on new car loan payments.
If you are shopping for a new Kia here at University Kia, then you may find more favorable loan terms, since newer cars typically offer some of the lowest rates. If you are interested in a used car for sale, our finance team will work with you to settle on credit terms that complement your current financial situation.
The greater the amount of money you can provide as a down payment the better, as it will be more likely that you can find viable bad credit financing options with a substantial down payment. So start putting money aside for your new or used Kia Sorento or other vehicle today!
Submit your auto loan application then make the short trip over to our Huntsville, Alabama dealership to visit with our finance specialists. University Kia is the place to shop for a new or used Kia and get sub-prime auto loans near Decatur, AL.