Traditionally, a credit score below 650 makes getting approved for financing much more challenging. However, it’s possible to get a car loan at Byrider with a 500 credit score! If you need a vehicle but have been turned away by other dealerships, visit us in Madison and drive home today in the car, truck, or SUV you want and need.
If you find yourself asking, “can I get a car loan with a 500 credit score?” the answer is yes when you work with us at Byrider. We are a large, nationwide used car dealership specializing in buy here, pay here financing. Because we do all the financing in-house, we can offer car loans for individuals with various credit histories, even if you have struggled to get approved by a traditional dealership. Byrider’s business approach allows customers to finance and purchase vehicles directly through the dealership rather than relying on outside lenders. Typical lending institutions use credit scores to assess the risk of lending money or determine if they think you can repay it. A low credit score implies that the borrower may have a history of late payments, defaults, or bankruptcies. As a result, lenders may hesitate to approve loans for individuals with a score of 500. At Byrider, we don’t let a credit score define you or your ability to repay the loan. We consider other things like your job history and current income, and we know that one life snag can ruin someone’s credit. This doesn’t stop us from approving you for a car loan with a credit score 500.
Shopping at a Byrider dealership, like the one in Madison, WI, is fun. We carry all the top brands, including Nissan, Chevrolet, Ram, Ford, Mazda, Kia, Honda, Hyundai, Jeep, and many more, in car, truck, SUV, and van configurations. No matter what you need your vehicle for, we can get you behind the wheel today with a low down payment requirement and low monthly payments. At Byrider, everyone deserves to drive a safe and reliable vehicle, even with a credit score 500. You can be confident when purchasing a car at our buy here, pay here dealership. We don’t sell our inventory as-is. ASE-certified mechanics rigorously inspect every vehicle to ensure all components and moving parts’ safety, reliability, and functionality. You get extra peace of mind with our warranty and optional service agreement, which keeps more money in your pocket when you need vehicle service or repair. Learn more when you shop and buy at Byrider because you can get a car loan with a 500 credit score with us!
Getting a car loan with a low credit score might be a solution to improving your scores for better financial opportunities in the future. That’s because at Byrider, we report your timely payments to the three major credit bureaus. Our financing options and payment plans make it easy for you to stay on track, and you get to choose which time of the month fits your budget. Don’t let having credit challenges, bankruptcies, or repossessions keep you from driving a safe and dependable car, truck, or SUV. By understanding the options available at Byrider in Madison, you can see the road ahead and drive away with the vehicle you need, all while working towards a brighter financial future. Visit the team today and let them help. They will ensure you understand the entire process of our buy here, pay here financing, when your payments are due, and explain how getting a car loan with a credit score of 500 and making timely payments can help rebuild your credit.