Does Hyundai Finance Bad Credit?

How Can I Get Car Financing with a Bad Credit Score? copy

If you’re dealing with a low credit score or even non-existent or short credit history, you might be feeling a bit of stress as you consider financing new vehicles for sale, or a used car, truck, van, or SUV. But those considering models subject to Hyundai finance have less reason to worry: At Planet Hyundai, we work with buyers looking to purchase Hyundai models – both new and used – with a team of friendly finance experts, backed up by a knowledgeable sales team, and experienced service personnel. Learn more about the options at your disposal in Golden here. 

Get Better Rates and Save Near Denver

Before you apply for financing for new Hyundai vehicles, you should first bear in mind that you will likely have a higher down payment, and your interest rates may come in above average. So budget high, with room to spare, and keep these pieces of advice in mind:

  • Ask questions and don’t assume you won’t be approved. As you shop, you might think the first financing option extended to you may be your only option. It’s not. Always ask questions and see if there are others that would be a better fit.
  • Revive your credit score. Build your bad credit back up using a credit card on small bills that you immediately pay off. 
    • Know your budget and your credit score (if you have one). As you’re applying for financing, your credit score can fall. Keep all of your loan applications within a 14-day period to limit potential damage to your score.
    • Separate price negotiation from financing. The first offer won’t be the only one. Many dealerships consult with multiple lenders.
  • Be prepared for a higher cost. Higher interest rates and larger down payments are both possible if you have no credit.
  • Leasing might be a better option. Look into options on lease terms. These payments might be higher, but can be cheaper in the long run when you attempt to purchase a vehicle.

Considering each of these factors raises your chance of an affordable deal when financing Hyundai with bad credit or limited credit.

Steps To Take When Applying for Hyundai Financing

Once you’ve gone to apply online for Hyundai financing, take a few additional steps to make sure you’re in the best position possible. You’ll know quickly what your best financial decisions should be:

  1. Determine how much you can afford to pay per month based on your budget.
  2. Make a bigger down payment if possible.
  3. Try to clean up your credit report before applying for a loan.
  4. Be honest about what kind of car you should buy, and don’t get more than you need.
  5. Consider lease deals, used car specials, and new car programs and incentives.
  6. Ask questions!

Hyundai Shopper Assurance

If you’re worried about the buying or leasing experience, take comfort in the Hyundai Shopper Assurance program, providing: 

  • Price transparency, with MSRP clearly listed on the Hyundai website 
  • Flexible Test Drive ability, where you pick the location for your test drive through an app or Planet Hyundai directly
  • Online paperwork, for a minimal amount of time spent in our office 
  • Three-day money-back guarantee

Find Value in the Lakewood Area with Planet Hyundai

At Planet Hyundai, our finance team works to consistently offer low prices to shoppers in the Arvada region, along with flexible terms, and solid advice to find and acquire vehicles that meet their budgets and unique needs. Contact us, stop by our showroom in Golden, learn more about Hyundai bad credit financing, and get the deal you’re looking for today to put you behind the wheel in a car you love. 

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