If you’re planning to buy a Jeep® vehicle and will need to pay for it over time, financing is a great option. However, Jeep financing can be challenging for people with bad credit. If you are in this situation, Heritage Chrysler Dodge Jeep RAM Parkville is here to help with tips and support.
Raise Your Credit Score
If you have the time, you may want to think about raising your credit score before buying a vehicle. You could do this by paying off your debt or consolidating it. You should also check your credit report for potential errors.
Put Up More Money
Lenders are sometimes hesitant to loan money to people with bad credit because they see them as a risk to pay it back. To show a lender that you’re putting your skin in the game, so to speak, supplying a big down payment is a good idea. While 20 percent is generally a good number to try to reach, going higher could be even better.
Find a Co-Signer
Another option is to have someone co-sign the loan with you. If a friend or relative with good credit is willing, this will increase your chances of not only getting a loan, but perhaps also a better interest rate. You can’t forget, however, that this person will be on the hook for any payments you may miss.
Start the Jeep® Financing Process Now
Even if your credit score isn’t great, our Jeep dealership in Baltimore, MD, is confident that we can secure you a loan that meets your needs and budget. You can start the financing process by filling out our online application. Or come down to see us to speak to one of our financing professionals in person!
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