For many people, owning a car is a great necessity. Whether its to transport family members to daily activities or to transport yourself to work, vehicles play a huge role in our lives. The downside is that purchasing a car is a large expense, and for most people, this means taking out a loan. If you have bad credit you may feel like you are simply out of luck. That there is no way, with your credit score, that anyone would give you a car loan. The good news is that this is not true! Many people with poor credit can qualify for an auto loan. It is true, some lenders may not approve your application, but there are places you can turn for a loan and dealerships such as Len Stoler Chevrolet is proud to be one of those places. How do you get the process of getting a bad credit car loan started? Read on to learn about some steps to take to become a proud owner of a car!


One factor that lenders consider when you apply for a loan is credit score. It’s not the sole factor, but it’s an important one. A credit score is an indication of an individual’s creditworthiness. Your score is influenced by past credit experiences, loans you have taken, credit cards used, etc. All this information is compiled in a credit report. You can request a copy of your credit report from various websites. It’s a good idea to take a look, know exactly what your score is, and also to check for inaccuracies. You are entitled to a free credit report every 12 months from the three major consumer reporting companies. You can request a copy from If you have the luxury of time, it is worth it to do anything you can to improve your score before applying for a car loan. You can do this by paying your bills on time, try to catch up with any missed payments, and to keep your balance as low as possible on revolving credit.


Once you have an idea of your credit score, it is time to determine a budget for your vehicle purchase. It is so important to come to a budget that works with your current situation. And just as important, to stick with it. When car shopping it might be easy to think that upping your budget by one or two thousand might not be a big deal. But the last thing you want is to be in a situation where you can’t afford payments, and to have your credit score go even lower. You should be proud of a vehicle purchase! Make sure you can enjoy it rather than stressing out over payments you can’t afford.


It is important to have a good idea of the type of vehicle you are shopping for, before you get far in the process. Make a list of the things that are most important to have in a vehicle. How much passenger space do you need? Are you involved in a carpool to work or with kids? Do you have a large family? Or maybe most of the time you will be alone in the vehicle. And what about cargo room? Is a large SUV really necessary? Could you get away with the cargo space in a car’s trunk, or a small crossover? For some people, fuel efficiency is a top priority. Others want power. And others yet find the style and design to be the most important. Once you know the basic body type of vehicle you are looking for, you can narrow your choices down to a few models. Next, you can research the specific trim levels and features, and find something that matches your budget. So you now know your credit score, your budget, and have your eye on a small list of vehicles. The last step is to view your dealer’s inventory and schedule a test drive. Visit the dealership and take a good look at the vehicle. This is a big purchase, you want to make sure you get it right. If you feel you have found the vehicle you want, you can speak with a member of our finance team. They can walk you through the rest of the steps.


Bad credit can happen to anyone. Regardless of how it does happen, there is always a chance to improve your credit. It may take time, but there are steps that can be taken to help credit. Even when your score is down, though, you may have the opportunity to purchase a vehicle.The great news is that if you can qualify for a car loan, and you keep up with your payments, it can actually help improve your score. Each car shopper will be in a different position when it comes to their exact finances.To have a successful experience, it’s important to know your exact budget, know your credit score, and determine what your true needs are in a vehicle.If you would like to get your car shopping process started and to find out if you qualify for a bad credit car loan, contact Len Stoler Chevy today, we look forward to helping you!