How to Finance a Car with Bad Credit

Credit Scores


We’re often asked, “Can I get a car loan with bad credit?” If you’ve got your eye on a new Toyota, you’ll be happy to know your credit score won’t hold you back. Our finance team at Morgan City Toyota is here to answer all your questions and guide you through financing a car with bad credit. When you’re ready to find the right car for your Houma and Lafayette commutes, don’t forget to take advantage of our new vehicle specials.



Finance a Car with Bad Credit: First Steps

If you’re asking, “Can I get a car loan with bad credit?” our finance team makes securing a bad credit car loan as easy as possible. Simply start by applying for financing online to get pre-approved, then work with our knowledgeable finance team to discuss a payment plan that works for you.

Steps for How to Finance a Car with Bad Credit

If you’re ready to finance a car with bad credit, there are a couple of things you can do to prepare around Thibodaux. Here’s how to finance a car with bad credit:

  • Determine how much you can afford to pay. More than just how much you can afford to borrow, you should also consider other expenses like annual registration fees, car insurance, maintenance costs, and gas costs.
  • Make a bigger down payment if possible. Making a larger down payment helps you get a smaller loan balance with less interest paid overall. Even better, it helps the lender see you more favorably as a borrower.
  • Try to clean up your credit report before applying for a loan. Take the time to dispute any errors on your credit report and pay down any outstanding debts you can. Every positive adjustment helps.
  • Be honest about what kind of car you should buy. It’s important to weigh what you want in a vehicle versus what you can finance with affordable payments. It’ll help you be able to afford your dream car in the future.
  • Shop around with lenders. The first offer isn’t always your only offer. Apply to various lenders to find the right terms for you.

Improving Your Credit Score

Learning how to finance a car with bad credit can actually help your credit score. If you take out a car loan and make consistent payments each month, it can improve your credit profile and increase your lending power down the line for lower interest loans and credit cards. That means your dream car is a step closer.

Learn More About Financing with Morgan City Toyota!

If you’re ready to finance with bad credit, contact our team at Morgan City Toyota with any questions you have. Be sure to take advantage of our other car buying tools like the payment calculator and value your trade tool.


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