Does Hyundai Finance Bad Credit?

If you have a poor credit history or a nonexistent one, you may be wondering if Hyundai is willing to work with car buyers like you. The answer is a resounding yes! At Suntrup Hyundai South, we aim to make car-buying as accessible as possible for drivers throughout the St Louis and Jefferson County area, so whether you’re looking for a new vehicle or a used vehicle, we likely have a poor credit financing option that meets your needs.

Get all the details below!

Tips for Applying for Bad Credit Financing

While you may be eager to start applying for financing and exploring your options right away, it can be helpful to take some time and prepare your finances a bit beforehand. First and foremost, poor credit financing almost always involves higher down payments and interest rates, so you’ll need to budget accordingly. Here are some other important points to remember:

• Don’t assume your application will be denied. Put time and energy into budgeting and preparing before applying for bad credit financing, and never assume your application will be denied. You don’t have to take the first option offered just because you have lackluster credit!
• Enhance your credit score. If possible, pay down some of your outstanding balances to give your credit score a lift. This will improve the odds of an approval and of more amenable interest rates.
• Stick to the budget. Even if you’re pre-approved for more than you’re budgeted for, you don’t have to go for a more expensive vehicle. Stick to your budget at all costs to avoid further financial stresses. In other words: Don’t buy more car than you need. Try to apply for poor credit financing within the same two-week period; otherwise, the prolonged influx of credit applications could lower your credit score.

How to Apply for Poor Credit Financing

When you’re ready to apply, Suntrup Hyundai South makes it easy to get the process started. This is a breakdown of the steps involved in seeking a loan for poor credit:

1. Figure out a budget so you know how much you can afford each month.
2. Make the biggest down payment you can, as this will reduce how much you have to finance.
3. Tidy up your credit report before applying: know your score and how it ranks, review the report carefully, and promptly resolve any errors or issues.
4. Explore vehicle specials and lease deals to find ways to save.
5. Ask questions. Our finance team is more than happy to answer any questions and provide more information about bad credit financing.

Get a Car Loan for Poor Credit at Suntrup Hyundai South

Ready to learn more about your poor credit financing options? Contact us today or stop by our St. Louis location–we’re just a short drive from St Charles. While you’re here, check out our latest inventory and find a Hyundai that ticks all the boxes on your wishlist!