Bad Credit Financing Near Somerville, NJ

Bad Credit Financing with Toyota of Stroudsburg

Do you need a new vehicle, but you’re afraid to apply because you’ve had some credit issues in the past? Maybe your car is on its last few miles, and you don’t know what to do because you think lenders will turn you down for a car loan. If you live around Hackettstown, Clinton, or Somerville, you can turn to Toyota of Stroudsburg for bad credit financing.

Credit Issues Are in the Past

We understand that things happen, which can cause problems with your credit. Unexpected medical bills, a job layoff, or unplanned car repairs can cause missed payments that lead to poor credit. We’re not here to judge the past. We want to help you build your future.

We can work with many kinds of situations:

• Late payments
• Missed payments
• Collections
• Charge-offs
• Repossessions
• Bankruptcy

No matter your situation, you don’t have to be afraid to talk to the team in our Finance Center. We’ll work with you to find a solution, so you can get a reliable vehicle.

Subprime Financing

Here at Toyota of Stroudsburg, we work with you to find an answer to your vehicle needs. If you’ve had issues with your credit and have a low credit score, we can often still find financing options for you. We work with lenders who provide bad credit financing in the form of subprime loans.

Subprime loans are for borrowers who have less-than-perfect credit. These lenders provide loans to allow you to buy a newer vehicle. The interest rates are higher than what you would get with good credit, but the repayment terms are affordable. You can get loans for 3 or 4 years with monthly payments that fit your budget. The vehicles for these loans are generally used and have a lower price. However, they are still dependable and in good condition.

Why Get Bad Credit Financing?

Ideally, you could wait to get another vehicle until you have rebuilt your credit score. For many people, that plan doesn’t work. Their current vehicle has quit, or it costs so much to repair it that buying a better vehicle makes good financial sense.

Buying a vehicle with a bad credit loan can help you rebuild your credit. If you make your payments on time, it will show on your credit history, which will help increase your credit score. Once you’ve paid off the loan, you can often qualify for a new vehicle with better terms for your next loan.

If you need a more reliable vehicle but don’t have good credit, talk to the finance team at Toyota of Stroudsburg. We can help you apply for a loan and get the vehicle you need. You can start by filling out our finance application or talking to one of our finance specialists about financing. You can find out how much your current vehicle is worth when you Value Your Trade, which will lower your payments on a newer vehicle.

Trust Toyota of Stroudsburg to help you with your auto financing needs.