How to Finance a Car WITHOUT Perfect Credit!

Imagine, you get to the dealership and you test drive your dream car. You feel the steering wheel, smell the clean leather. It is perfect. You sit with the sales associate and begin to discuss a finance option, then the sales associate says those two words…”credit score”.



Financing a new and/or pre-owned vehicle is an exciting time in one’s life, however many dread the feared credit check. At Clint Newell we carry a large inventory of new Toyota models as well as a variety of Toyota and non-Toyota pre-owned cars, trucks, and SUVs. Although it may seem impossible to receive an auto loan with low credit, the good news is- it IS possible. We understand “perfect” credit is unrealistic for many of our customers, and are here to help. Our team has put together some tips and tricks on financing a vehicle with less than perfect credit. Don’t let some numbers stand between you and your dream vehicle!

Why Does My Credit Score Matter?

Not only is your credit  the tool lenders use to determine approval or denial of an auto loan, but it also sets the terms and regulations of said given loan.


Terms and regulations of auto loans:


  • The amount of money loaned to you
  • Interest rate charged
  • Required down payment
  • Length of the offered loan



As the economy changes, the overall lengths of many auto loans continue to expand. However, the lower your credit, the shorter the length of your loan may be. Oftentimes banks and lenders charge consumers with lower credit and a higher interest rate. How can this be, you may ask? Lenders may see someone with a lower credit score as a higher risk to pay borrowed money back. At Clint Newell Toyota, our skilled associates and accountants are dedicated to assisting you in every step of your car-buying process. Finance options through our Roseburg dealership will be discussed further in the article, or can be found here.  

What Is Determined As a “Bad” Credit Score?

Bad, good, or excellent credit is ultimately determined by the lender. Certain credit scores are required for certain purchases, and can seem complex. However, our team has broken down the general credit tiers for you.


According to the FICO model, credit score classifications are as followed:


  • low /poor credit score: 300-579
  • fair/moderate credit score: 580-669
  • good credit score: 670-739
  • very good credit score: 740-799
  • high/exceptional credit score: 800-850

Retrieve Your Credit Report, And Fix What You Can

It is extremely important before applying for the auto loan on your dream Toyota Camry or Tacoma, to get a free copy of your credit reports and scores. By doing so, you’ll be able to determine the quality of your credit as well as payment history and dispute errors if needed.


The best way to improve payment history patterns is to make sure you meet your monthly credit payments. Taking actions such as setting alarms or email reminders can help you remember on-time payments. If possible, we encourage you to use the autopay option to ensure you don’t miss deadlines or bills. Reducing the balance of debt on your credit card  is vital. A mistake

Many people make only the minimum required monthly payments. While that IS indeed better than paying nothing whenever possible, you should pay more than required to make a dent. By doing this it will reduce the amounts owed on your credit score as well. Overall, the greatest factor lenders consider is your debt to income ratio. This is the total amount of your obligations in comparison to the money servicing the debt.

Schedule A Meeting With A Dealership Representative



Here at Clint Newell Toyota, we happily offer easy loan and finance options. We can get your pre-approval in minutes.  Fill out an application online and we will contact you with a financing decision quickly.  Enjoy fast easy financing with Clint Newell Toyota.  We offer the best rates in the Roseburg, OR area.

January 20, 2024
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