Purchasing a vehicle is a big financial commitment. It’s incredibly rare to find a quality vehicle in good, lasting shape with a completely cheap price tag. If you want a vehicle that’s going to last long enough to be worth it and keep you and your passengers safe, you’re going to have to spend a little bit of money, typically enough money to require financing. But for car shoppers with bad credit, thinking about financing might discourage them from even looking into it. Here at Jim Glover CDJRF, we don’t want your bad credit to prevent you from getting a vehicle if and when you really need one. So, today, we’re here to give you the rundown on how to get Jeep financing even if you have bad credit.
What are my financing options?
There are all kinds of situations that might lead you to needing some assistance with your financing. Thanks to our vast network of trusted financial lenders, including Ally, Bank of America, Capital One, Chase and more, we’re able to work with car shoppers coming from all kinds of credit backgrounds. Sometimes having no credit history can be even worse than having bad credit, but our partners are also incredibly flexible and have all manner of solutions to help with both bad credit or nonexistent credit.
Bankruptcy can be one of the most worrisome ordeals to go through, but the last thing you need is for that to get in the way of your future. Some of our programs can not only help you get behind the wheel of a vehicle after your bankruptcy, but help you towards regaining your financial freedom and independence. Speaking of recent events getting in the way, we’ll also work around big life changes that can negatively impact your credit, such as a divorce or other transitional period in your life.
Answering Frequently Asked Questions
Now we’ll dive into some of the most frequently asked questions regarding Jeep financing and try to work in some tips on how to help you get the best financing option for your given situation. For starters, one of the most asked questions we get is whether or not a down payment is required when purchasing a new Jeep vehicle. If it’s not already obvious, our financing team is incredibly willing to help and work towards finding the best option to suit your specific situation, so if you can’t make a down payment there are definitely opportunities for financing a vehicle without them. However, if you can manage it, paying more up front can actually help improve your chances of getting approved for financing, so you should definitely consider making the largest down payment you can.
Some other frequent questions have to do with existing car loans and how you can potentially lower the interest rate or if there are any options if you find yourself owing more on your vehicle than it’s worth. In either situation, and many others, our financing team is equipped and willing to help you out however they can. Refinancing might be a solid option to lower your interest rate, or trading in your old vehicle for a new one and rolling that existing balance into something actually worth the price you’ll end up paying.
One final question we’ll address is if you accept co-signers when financing a vehicle, and the answer is a resounding yes. Not only do we accept it, but we would likely recommend it if you have bad credit or no credit at all, as having a co-signer with better credit history can significantly increase your chances of being approved.
Hopefully, we’ve helped you feel a little more confident about your options when shopping for a Jeep with bad credit. If you have any questions about finances or your options, don’t hesitate to get in touch with us. We can’t wait to help you get in the driver’s seat regardless of your financial situation.
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