Subprime Auto Financing: Debunking Common Myths
Debunking the biggest myths about subprime car financing. Learn the truth about auto loans with less-than-perfect credit so you can shop smarter and drive sooner.
Credit Resources
Expert guides and tools to help you improve credit for a car loan, understand auto financing options, and secure the best rates regardless of your credit history.
Featured Credit Resources & Guides
Understanding Car Financing: A Complete Guide
Learn everything you need to know about car financing options, interest rates, and how to get the best deal on your next vehicle purchase.
How to Improve Your Credit Score Before Buying a Car
Boost your credit score before applying for auto financing to unlock better interest rates and loan terms. Our step-by-step guide provides actionable strategies.
Interactive Credit Tools
Understanding Credit Scores for Auto Financing
What Makes Up Your Credit Score
Payment History
35%Your track record of paying bills on time
Credit Utilization
30%How much of your available credit you're using
Credit History Length
15%How long you've had credit accounts
Credit Mix
10%The variety of credit accounts you have
New Credit
10%Recently opened accounts and credit inquiries
Credit Score Range
700
Good
Poor300-579
Fair580-669
Good670-739
Excellent740-850
Credit Score Visualizer
See how your credit score affects dealer financing options and what rates you might qualify for.
Credit Score Visualizer
Car Loan Payment Calculator
Calculate Your Monthly Car Payment
Use our interactive calculator to estimate your monthly payments and see how different factors like loan amount, interest rate, and term length affect your auto loan.
Estimated Monthly Payment
$467
Total Payments: $28,020
Total Interest: $3,020
Tips to Improve Your Credit for Better Car Financing
Pay Bills On Time
Set up automatic payments to ensure you never miss a due date. Payment history is the most significant factor affecting your credit score.
Reduce Credit Utilization
Keep your credit card balances below 30% of your credit limits. High utilization can signal financial distress to lenders.
Dispute Errors
Review your credit reports regularly and dispute any inaccuracies. Incorrect negative items can significantly impact your score.
Frequently Asked Questions
Can I get approved with bad credit?
Yes! We specialize in helping customers with all credit situations. Our network of lenders offers various programs designed for different credit profiles.
How much down payment do I need?
Down payment requirements vary based on your credit situation and the vehicle you choose. We work with you to find a down payment that fits your budget.
Will my car payments help build credit?
Yes! Making regular, on-time car payments can help improve your credit score over time. We report to all major credit bureaus.
"CarCapital helped me secure financing despite my challenged credit. Their resources helped me understand how to improve my score for future purchases."
— Michael T., CarCapital Customer
Ready to Get Started?
Apply now to see what car financing options are available to you, regardless of your credit situation.