Bad Credit Car Financing
Rebuilding credit can be overwhelming, especially when no one is willing to give you a chance to start over. That’s why at Paradise Motors, we want to help you get bad credit car financing. You won’t get turned down because of subpar credit. We offer an assortment of options designed to get you behind the wheel of a vehicle that fits your needs.
For more than thirty years, we have provided quality and reliable vehicles to our customers, making sure that everyone has access to transportation. It’s this kind of mindset that has earned us multiple awards, such as the 2009 National Quality Dealer of the Year Award By The National Independent Automobile Dealers Association. We are extremely proud of this prestigious award and the recognition we have received for putting our customers first.
Most recently, we were honored with the 2022 Platinum Used Car Dealer award. This award was voted on by members of the Lansing Community and shows their dedication to Paradise Motors. This award means a lot to us because it shows that our efforts to give back to the community are not going unnoticed. Our business isn’t cars, it's people, and that’s what sets us apart from other dealers. What you want and need matters, and we're here to make it happen.
What Is a Poor Credit Rating?
Understanding your credit score is the first step to rebuilding poor credit. Your credit score can greatly impact your chances of receiving a loan with a good rate or even a loan at all. That’s why building up credit and keeping it up is necessary to make large purchases, like a vehicle. The most popular credit scoring models are FICO and VantageScore. For auto loans, some lenders may look at your FICO Auto Score, which takes your FICO base score and adjusts it to reflect potential risks.
The reason a credit score matters so much is because it determines your risk factor. A low score indicates the inability to pay back your debt, while a higher score shows you have the means to pay off what you borrow. Credit scores can vary drastically; FICO and VantageScore range from a low of 300 all the way up to a prime score of 850. Not all lenders have the same idea of what is considered good or bad credit. If a lender chooses to use your FICO Auto score, this will typically range from 200 to 900. It’s a good idea to check your credit score through a trusted site and see where you stand and how it fits against the average credit score. According to the FICO model, an ideal credit score is 670 and above, while VantageScore gives a little more wiggle room. At this score, you are more likely to receive a loan with a decent interest rate.
Don’t worry if your credit isn’t where you want it to be. Life happens, but what really matters is how you handle the challenges. You can improve your credit by making a few small changes. Try to keep your credit utilization low. Your credit utilization is what your revolving balances are compared to your credit limit. By keeping it at 30% or lower, you show you don’t have to max out your credit.
Another way to improve your credit is by making your payments on time. This is one way purchasing a vehicle through Paradis Motors can help. By getting approved for a loan, either through a lender or us, you will begin making payments. Your on-time payments will get reported to the credit bureaus, increasing your credit score. Sometimes, all we need is a little help to get the ball rolling.
You Have Options at Paradise Motors
Don’t limit yourself just because you have subpar credit. We have a wide selection of like-new vehicles, offering something for everyone. Whether you are looking for a workhorse like the Chevy Silverado or you want to cruise in style in the Corvette, there is a pre-owned vehicle with your name on it.
Looking for a family vehicle that can transport you and your loved ones in safety? Then check out the GMC Terrain. In recent years there has been a rise in SUV popularity. It isn’t hard to understand why, though. The SUV is a versatile vehicle that can offer comfort, safety, and convenience. Pack it full for a weekend getaway, take charge of carpooling for the soccer team, or even go off-road for a little adventure.
Riding solo? Feel the wind in your hair when you drive off in a spunky Encore. Full of spirit and zest, the Buick Encore is a ride you won’t forget. Maybe you are looking for a reliable commuter, a vehicle that can get you to and from work with a smile on your face. If that’s the case, consider a Chevy Malibu. The Chevy Malibu is a four-door sedan with ample leg room, factory-installed safety tech, and an easy to maneuver size.
Speaking of size, dominate the road in a Chevy Suburban. This mammoth is equipped with a stellar V8, loads of driver assistance features, and even includes Teen Driver. Teen Driver is a revolutionary safety system that protects new and young drivers and encourages them to build positive driving habits.
We Can Get You Back on Track at Paradise Motors
We know that working with poor credit can be frustrating. That’s why at Paradise Motors, we have options to help get you back on track. Everyone deserves to have a vehicle they can rely on, and we want to make that happen.
One way we can make that happen is with our Buy Here, Pay Here financing. This type of financing bypasses your typical lender. Instead, it involves an agreement between the borrower and our finance team at Paradise Motors. Rather than making payments to a bank or credit union, the borrower makes payments directly to us. This method allows us to approve your loan, even with subpar credit.
If you prefer traditional financing, that’s an option as well. At Paradise Motors, we work with local lenders to get you the best rate possible. You can even apply online, making it easy to see your monthly payments and interest rate ahead of time. Buying a car shouldn’t be stressful; that's why we try to offer as many tools and services as possible to make it easy and pressure-free.
Visit Either of Our Locations to Find a Vehicle, Even With Bad Credit
Welcome to Paradise Motors, where we only say yes. It doesn’t matter whether you have excellent credit or you’re working on rebuilding it; at Paradise Motors, everyone is treated the same. We aim to show every single person who walks through our door the same courtesy and respect we would expect. We want to help you find your dream car, whether that means financing through a bank or working with us to get a second chance.
We have a wide selection of pre-owned vehicles that undergo a rigorous inspection to guarantee you get the best vehicle out there. You won’t find such a pristine collection of late-model cars, trucks, and SUVs anywhere else. We make it easy to find your next vehicle, either online or in person. Schedule a test drive, apply for financing, or reach out to get further detailing on the vehicle that catches your eye. We have a team of professionals ready to help you through the financing process. You can start the credit application online or let one of our finance experts guide you through the process.