Bad Credit Financing

Bad Credit? No Credit? We Can Help.

At Townsend Nissan, our team of new and used car sales experts is eager to welcome buyers from Tuscaloosa County, Bibb County, and Pickens County who are shopping for their next vehicle. Our inventory includes hundreds of great choices, including new Nissans that include a full warranty and some certified pre-owned Nissans that also include the balance of the manufacturer's warranty. We even have a selection of used vehicles priced under $15,000 for first-time buyers or buyers with poor credit who are looking for a way to secure a reasonably priced vehicle and a car loan to begin rebuilding their credit score. You are invited to stop by, meet our sales pros, and take a look at all your options to decide which models you would like to test drive.

But before you decline this offer because you are worried about your credit score, please know that our full-service dealership includes an incredible staff of finance professionals who are skilled at making subprime loans work for our valued customers who have less than perfect credit. So do not let a low credit score deter you from shopping at Townsend Nissan for your next vehicle, and allow our staff to help you with the bad credit approval you need for your car loan.

Understanding Your Credit Score And What It Means For A Car Loan

Many Walker County car buyers who shop at Townsend Nissan know that they have a credit score, and that it can and will impact their ability to secure a loan quickly or easily. But most people are not genuinely clear on how a credit score is determined and what it actually means when they are applying for a car loan. So let's begin with some basic information that will help you today as you apply for a car loan, in the future when you consider using subprime lending, and in the future as you work to improve your bad credit.

The rating system for a personal credit score ranges from 300 to 850. Any score over 800 is considered exceptional and will make it easy to get a loan approved. A score of 740 to 799 is considered very good, while the good range is 670 to 739. When your credit score is between 580 and 669, it is considered fair and can make it challenging to secure a loan, as you represent a higher risk borrower. When your credit score dips below 580, it is rated as poor and will likely require you to use subprime lending options to secure a car loan.

What Is Subprime Lending?

Subprime lending is a term used for lenders who are willing to assume the greater risk of lending to borrowers who have poor credit. The trade-off for borrowers to get bad credit approval on a subprime car loan is that they will pay a higher interest rate. In addition to the increased interest rate for the loan, many subprime lenders charge the borrower significant fees to process the loan. But when you need a new car and have to secure a loan with poor credit, paying the fees and a higher interest rate could be a wise choice to ensure safe transportation.

Using A Subprime Loan To Your Advantage

After finding a car at Townsend Nissan that meets your need for reliability and safety while also working within your monthly budget, it can be hard to walk away when your traditional car loan is not approved. There are many cases when it is wise for buyers with poor credit to carefully consider using a subprime lender to secure the car loan they need. Not only will it get you in the vehicle you selected, but it will also help you rebuild your low credit score.