At AutoFair Ford of Manchester, we're here to help all of our customers get into the vehicle they need, regardless of their credit score. Even if you have yet to establish a credit history, we'll be happy to work with you and find a solution for your financial situation. We'll provide some information on this page to answer a few common credit-related questions. After that, we welcome you to contact our financing department with more specific questions.


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What is considered a bad credit score?

Credit scores range from 300 to 850, with the lower figures indicating worse credit than higher ones. A score within the 300-579 range is considered to be "poor."

There are three national credit report services (Experian, Equifax, and TransUnion) where you can obtain your credit score, and you're entitled to one free copy of your credit report every calendar year. There are also websites that will show you your credit score at no cost.

What can I do to improve my credit score?

There are a few things you can do to increase your score, starting with paying off as much debt as possible and making sure to pay your bills on time. Be sure to check your credit report thoroughly so that you can identify and correct any errors on it. Resist opening any new credit accounts that you don't absolutely need and save any potential credit for what you must have: a vehicle.

What do I need to do before I apply for a loan?

Look closely (and honestly) at your finances and decide how much of a car payment you can truly afford. Then, determine how much money you can put down. The larger your down payment, the less you'll need to finance - and having to borrow less will open more lending doors for you (besides lowering your monthly payments). If your available funds for a down payment seem low, see if you can put off buying a vehicle for a few more weeks so you can save more money.

What if I do need a car immediately?

If you don't have time to improve your credit score before purchasing a vehicle, there are still options that can help you get approved. Do you have a close friend or relative with a good credit score who's willing to cosign for you? A cosigner agrees to pay the lender if you're unable to, ultimately reducing the risk for the lender. That said, if you don't pay your loan on time, it can negatively impact the cosigner's credit score. Since that's a risk not everyone is willing to take, don't take it personally if the person you ask to cosign tells you no.

Are there really lenders out there who will approve somebody with a low credit score?

Yes, there certainly are. The experienced Financing Team at AutoFair Ford in Manchester has built excellent relationships with lenders over the years, and we'll work hard together to find you a solution, even without a cosigner. Even if you've been turned down, you can apply for a subprime loan, which will carry a higher interest rate but will get you into a vehicle. Once you secure your financing, you can work to pay the loan off early, which will reduce the amount of time that you'll have to pay that higher interest. Or, after you've made your payments on time for a while and your credit score has inched upward, you can look in to refinancing the loan at a lower APR.

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