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Truck Loans with Bad Credit in Flamborough

Truck Loans with Bad Credit in Flamborough

If you need a truck for work and have bad credit, you would be forgiven for thinking you’re in an impossible situation. That isn’t the case as our Flamborough car loan team is about to explain.

 

Bad credit may limit your loan options but it doesn’t eliminate them altogether. We will have to be more selective in the lenders we work with and how we frame your application but as long as you can afford the loan, we can get you one.

 

Bad credit truck loans in Flamborough

 

Unless you’re dealing in heavy goods and are thinking semi rather than F-150, a standard bad credit auto loan will do for a truck. For larger vehicles, we have a range of commercial vehicle loans but they aren’t what we’re talking about here.

 

We are talking an F-150 or Ram 1500 or something of that size.

 

For that we use a standard bad credit car loan. Which is good news as the application and qualification process is exactly the same as it is for cars.

 

That means:

 

Check your credit history – Check your credit score, check your report for errors and have them corrected. You’re entitled to a free credit check per year per credit bureau so use them wisely.

 

Improve your score if you can – If you have a little time before you need to get the loan, use a credit card to help build a positive payment history and boost your credit score. Use the card for everyday costs but don’t spend what you don’t need. Pay it off in full each month and your score will increase over time.

 

Save for a down payment – A down payment will not only reduce the amount you need to borrow, it also gives lenders confidence. You’re putting your own money down, reducing the risk to the lender. They like that.

 

Prepare your trade in if you have one – If you’re trading in your old truck, give it a clean and make it look as presentable as possible. Fix anything obvious and make it look the best it can be to maximize the trade in value.

 

Get preapproved for a car loan – Bad credit car loan preapproval will tell you exactly how much of a loan you could qualify for. It’s an estimate, so don’t take it as an offer but it should give you an idea of how much you could borrow. Combine with your down payment and potential trade in value to give yourself a final amount for the new truck.

 

Shop around for the truck – Now you know how much you have to play with, it’s time to go truck shopping! Visit Northway Ford either in person or online and check out our stock of new and used trucks.

 

Apply for your car loan – Once you have found a truck, it’s time to apply for the loan. Our Flamborough bad credit car loan team can help you prepare and apply and give you the best chance possible to qualify.

 

When you’re ready for a car loan, get in touch with the Flamborough car loan experts at Northway Ford for great deals on auto finance.

 

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