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Does Hyundai Finance Bad Credit?

Does your credit score need work? Or, do you have limited credit history? If you answered “yes” to either of those questions and you’re shopping for a new or CPO Hyundai, you might be feeling a bit stressed about the process. However, Hyundai Motor Finance is flexible and works with a wide variety of car shoppers. At Shottenkirk Hyundai Canton, we assist drivers from all walks of life, ensuring they find the financing solutions that make sense for their budgets and lifestyles. Below, you can learn more about your Hyundai finance options. 

 

 

Get the Best Possible Rates & Terms 

If you’re going the route of bad credit financing, it’s important to keep in mind that you may have a higher-than-average down payment and interest rates. To be on the safe side, you’ll want to budget high and keep the following pointers in mind: 

  • Don’t hesitate to ask questions and don’t assume you won’t get financing. It’s not uncommon for drivers to get approved for an auto loan even if their credit isn’t great. 
  • Know your budget and credit score. Determine how much you can afford in monthly loan payments and check your credit score to see where you stand.
  • Work on your credit score. It’ll take some time, but you can give your credit score a boost by making small purchases with a credit card and immediately paying them off. Also, if you’re able, work on paying off any existing debts. 
  • Limit your loan applications to a 14-day window. This will help protect your credit score, which can be dinged by inquiries from lenders. 
  • The first offer won’t be the only one. Many dealerships consult with multiple lenders, so you’ll likely have more than one option for a loan rate and term. 
  • Be prepared for higher costs. As noted above, higher interest rates and greater down payments are to be expected if your credit score is poor. 

Applying for Hyundai Financing: Step-by-Step Guide 

After you’ve applied online for Hyundai financing, you can take some additional steps to improve your chances of getting approved: 

  1. Figure out how much you can afford to pay per month based on your budget. 
  2. Make a larger down payment if you’re able. 
  3. Before applying for a loan, try to clean up your credit as much as possible. 
  4. Budget for the car you need rather than the car you want. 
  5. Take advantage of new car specials, used car offers, and offers & incentives
  6. Ask questions!

What is Hyundai Shopper Assurance?

If you’re a first-time car shopper, you may have some anxieties about the buying or leasing experience. The Hyundai Shopper Assurance program provides the following benefits for shoppers around Jasper: 

  • Price transparency, with MSRPs clearly listed on the Hyundai website.
  • Flexible Test Drive ability, where you pick the location for your test drive through an app or with Shottenkirk Hyundai Canton directly. 
  • Online paperwork, allowing you to spend a minimal amount of time in our office.
  • Three-day money-back guarantee. 

Get Answers to Your Hyundai Finance Questions! 

Here at Shottenkirk Hyundai Canton, our finance team works dedicatedly to help Canton car shoppers find workable solutions that meet their needs. Whether you have good credit, poor credit, or no credit, our financiers will do their best to offer you the most flexible terms and rates on a Hyundai finance plan. Contact us online or by phone at 770-769-2752 with any questions about bad credit financing. We look forward to getting you behind the wheel of the vehicle you need!

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Shottenkirk Hyundai Canton 34.261766, -84.465815.