Bad Credit Truck Financing
Financing a new or used truck is not much different from financing a car. Some of the popular pickup truck manufacturers, like Ford, Chevy, and Toyota, offer financing through select dealerships. However, if you have bad credit you might opt for a pre-owned vehicle, in which case dealer finance from a bad credit specialist might be the better option. Our service can help you find the right lender given your credit and financing needs.
Considerations when Financing a Truck with Bad Credit:
- 4×4 or 2-Wheel Drive: if you need four wheel-drive, you need it. Whether for work, rough roads, or rock-crawling, having that extra offroad capability is a true advantage. That said, remember that four-wheel drive usually costs more and always leads to worsened gas mileage — a serious consideration these days. With bad credit, the most important thing is to make sure you can make your payments on time, all the time.
- Insurance: one good thing is insurers generally charge lower insurance rates for pickup trucks versus cars of the same purchase price.
- Work Use: if you plan to use your vehicle as a work truck, talk to your lender about a business auto loan. You might be able to save both on interest rates and purchase price (via tax write-offs) by financing the vehicle through your business, especially if your individual credit is bad.