Bad credit doesn't mean you cannot get your car financed. It only limits you on the amount of finance you can get. At Brandfon Honda in Branford, we understand your difficult situations. We welcome you to our open opportunities of ensuring you get the automobile of your dreams. Let us analyze some of the ways to receive car finance at our finance center.

Raise your Credit Score

If you have an unpaid loan, try and get your credit report from the reporting bureaus. So now it is time to pull down the loan deficit by paying part of your balance. It is advisable to get each of your account balances below 30 percent of the credit limit.

Choose a Long-Term Loan

When a monthly loan spreads in about 60 months or longer, it makes payment affordable and easy. But, always note that cars are depreciating assets, which means a longer loan term risks your car's worth. It might affect you when you need to resell the vehicle before you finish the loan payments, especially if you bought a new vehicle.

Make a Down Payment

It would be best if you show the seller that you are unlikely to default. You should make a significant down payment based on the car value. A down payment reduces the amount of loan you need to finance your car. It lowers your monthly payments, especially on a used vehicle.

Shop Around

When having a bad credit, some dealers may be willing to offer you a loan. But, variety in terms may limit you from getting a better deal. It would be best if you sit down with our lenders to develop a solution to a better loan.

Organize Your Transactions and Records

When applying for a loan, ensure all documents are ready. All bank records, tax returns, and check stub documentation reflect a payment received over three years. It is ideal for making you qualify for a higher loan.

Visit Brandfon Honda to Learn More

Visit our dealership in Branford today to get more information on the ability to finance your car. Do not shy off when turned down by other lenders. Here at Brandfon Honda, we always try to find the best solution. We look forward to working with you soon!