Used Vehicle Specials

Customers signing documents at a car dealership

Here at Exclusive Motorcars, we’re dedicated to helping each of our customers drive home in a vehicle they love for a price that fits their budget — even if they have low or no credit. We understand that sometimes life gets in the way, leading to a less-than-ideal credit score. But this shouldn’t have to hamper your access to safe, reliable transportation. That’s why we offer subprime auto financing options.

Our subprime car loans are great options for those who’ve been turned away by traditional lenders because of their credit ratings, allowing them to be able to afford one of the used cars for sale on our lot. Check out our subprime financing frequently asked questions below, then reach out to the team at our used car dealership in Randallstown to learn more!

Subprime Car Loan FAQs:

01

What is a subprime car loan?

Subprime auto loans are offered by lenders to individuals who have low credit scores or poor credit histories. Typically, subprime borrowers have been turned down by traditional lenders because of low credit scores (generally under 600, though this has varied over time). If you’ve had difficulty getting approved for a car loan previously, subprime financing may be a good option for you.

02

How do I qualify for a subprime loan at Exclusive Motorcars?

It’s easy to qualify for a subprime car loan at Exclusive Motorcars, as we offer subprime financing to those with low or no credit, as well as those who have previously or are currently filing for bankruptcy. We even offer no money down financing, which makes securing a payment plan that works with your budget easy. All that’s required is that you make a minimum of $30,000 per year.

03

How to get a car loan with low or no credit?

If you’re looking to get a car loan with low or no credit, you may have a few options. In addition to applying for subprime financing, you can consider getting a cosigner or making a large down payment. Both of these options will make you less of a risk to the lender, increasing your eligibility for more traditional car loans.

04

Are subprime loans bad for my credit score?

While a subprime car loan can hurt your credit score if you miss payments or default on the debt, it can actually improve your score if you continuously make payments on time. Therefore, getting a subprime loan can actually help you establish positive credit history.

05

Car Loan Calculator

Determining which vehicles you can afford can be a bit tricky, as there are several factors to consider in addition to your desired monthly payment — like how much you can put as down payment, your credit score, available interest rate, and loan duration. Fortunately, we have an online car loan calculator that makes it easy to estimate auto loan rates.