Bad Credit Car Loans - Lugoff Nissan

At Lugoff Nissan, we don’t believe that your credit history should keep you from a reliable ride. Whether you’re attempting to build or rebuild your credit score or this is your first big purchase, we know that it can seem difficult to get approved.

We want you to know that we work hard to get you an auto loan, even if you have bad credit, or you need a no-credit loan. Even if your credit history is spotty or you have a repossession on your record, we’re on YOUR side! Your job is your credit! As long as you have a job your credit score shouldn’t matter.

Our team wants to make it easy for you to drive away happy and confident in your new or used Nissan vehicle. We have established ties with several financial institutions to help every customer with their specific credit needs!

Questions To Ask Lugoff Nissan About Your Bad Credit Auto Loan

What is the minimum down payment?

Many people believe that bad credit or no credit automatically means they’ll need to have a large down payment. This isn’t always the case! Minimum down payments vary depending on your dealer and the bad credit car loan type you need. You may qualify for a bad credit loan without a large down payment.

How high is the interest rate?

Your interest rate depends on several factors, including the vehicle’s price, your down payment, and your credit score. Before you sign your loan contract, your loan officer will share all the details about the interest rate that applies to your new or used car loan. The interest rate on a subprime auto loan is a key factor in determining how much you’ll pay each month and the total amount you’ll pay over the life of the loan.

What are the terms?

Auto loans for those with bad credit often have different terms than loans for better-qualified buyers. The loan terms will depend on factors like the lender, the length of the loan, your down payment, monthly payments, and interest rate.

What kind of car will I qualify for?

Buyers with bad credit or no credit history may be qualified for a used vehicle loan since used vehicles typically cost less overall than a new model. Our finance experts can work to help you determine your overall budget and the type of vehicle(s) you may be qualified for.

Can I have a car loan cosigner if I have bad credit?

If you have a family member or significant other with good credit and they are willing to co-sign on your bad credit auto loan, you may be able to secure a better interest rate. However, if you are unable to make your monthly payment, it may affect both your credit score and theirs.

Can I Get a Car Loan With a Repossession on my Credit Report?

Having a car repossessed is a difficult experience, but you may still be able to get an auto loan even with a repossession on your credit report. Before applying for a bad credit car loan, it’s a good idea to check your credit score and review your credit status. Pay your bills on time and reduce your credit card/loan balances if possible, especially if you still owe money on your other auto loan. Then you’ll want to save as much as possible for a down payment when applying for auto financing with poor credit.

When buying a car, be realistic about the price you can afford. Getting pre-approved for an auto loan with bad credit is a great way to set a budget for yourself before you ever visit our dealership.

What Documentation Should You Bring to the Dealership for Financing?

We're here to help you get approved, and part of that is notifying you of the documents you’ll need to ensure a smooth process. If you're applying for a subprime car loan, you might need to submit additional paperwork to help get approved by some of our lending partners.

Here is a rundown of the documentation that loan providers most commonly recommend bringing when you visit our finance department:

A valid driver’s license – Make sure that your license is not expired, revoked, or suspended. Also ensure the address listed on your driver’s license is current and matches your residence.
Proof of insurance – In addition to current insurance cards, include your agent’s name and a reliable contact number. There’s no need to add a new car to your policy until you’re approved.
Proof of residency – You can prove your residency with a recent bill for utilities, such as water or electricity. Make sure that your name is listed and matches the address given.
Proof of employment – Bring a recent (within 30 days) pay stub stating your year-to-date earnings. If you’re self-employed, you must provide two years of professionally prepared tax returns.
A list of personal references – A reference means any individual that knows you personally like a family member, friend, or work colleague. Your list should include full names, addresses, and phone numbers. Keep in mind that your references cannot reside at the same address. As a courtesy, get permission from your references before listing them as a lender may contact them.
Phone number verification – Any phone number provided must be in service and under your name as the applicant.

Drive Away with Confidence from Lugoff Nissan, Even with Bad Credit!

Thanks to our secure website, drivers from around the Lugoff, SC, area and surrounding communities can apply for sub-prime auto loans from the comfort of their home. If you’re ready to get started, complete the application form with accurate information, as we’ll use your provided details to search for the best financing rates available to you. There is absolutely no obligation to buy from us if you send us a credit application.

If you have any questions, feel free to contact us! You’ll love seeing what our loan experts can do for you.

Our dedicated Nissan finance center staff has helped area car shoppers overcome financial setbacks like:

Foreclosures
Bankruptcies
Repossessions
Divorces
Late or missed payments

As your local Nissan dealership, we’re ready to help you get approved. Be sure to complete a credit application online now or head to Lugoff Nissan to enjoy one-on-one assistance from our in-house team. We look forward to working with you!