Subprime Auto Financing
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.
Check out our subprime financing frequently asked questions below, download our pre-owned luxury vehicle buying checklist (available below), then reach out to the team at our luxury used car dealership in Randallstown
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.
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.
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.
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.
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.
Buy a Used Car at Exclusive Motorcars
Don’t know what vehicle to get? Exclusive Motorcars will guide you through your options. Before coming into our Randallstown dealership, check out our Car Buying Checklist to see what questions you should be asking our team to find the right vehicle for you. We’ll provide the expertise and advice you require, then guide you through our used car showroom. You’ll soon see how easy it is to afford a vehicle you love when you take advantage of our subprime auto financing options!
Download Our Buying Checklist
to guarantee you’re getting the best deal every time you shop.