If you have been turned down for Chrysler financing, don’t panic. There are several ways to improve your application, and our team at Hunt Chrysler Center is ready to walk you through the steps. With a bit of time and an open mind, you’ll be on the road to your new car.
Find a Co-Signer
If you need a car immediately and have someone willing to put their credit on the line, adding a co-signer is a great way to improve your application. Your co-signer needs to have a solid credit history, as it will be combined with yours and considered together. Be careful not to fall behind, or both parties’ credit history will suffer damage.
Work On Your Credit Score
Raising your credit score isn’t something that can be done overnight, but it’s the best way to improve your application the next time around. Work on reducing your credit card balances and catching up on past-due payments, and avoid making new credit applications until you know you’re in a better place. Aim for a credit score above 670 to hit the “good” range and have a better chance.
Buy a New Car Instead of Leasing
Leasing is a great way for many drivers to get behind the wheel of a new Chrysler car. However, there’s a catch: this isn’t always viable for drivers with bad credit because leasing requires a higher credit score. A car loan may provide drivers more leeway than they’d receive with a lease.
Apply for Financing at Hunt Chrysler Center
We’re committed to getting you behind the wheel at Hunt Chrysler Center. Visit our Franklin Chrysler dealership and talk to our finance team about improving your credit and your odds of getting approved for Chrysler financing today!
