Subprime Financing

 

Closing out business at a dealershipSubprime Financing

If you want to explore the ins and outs of financing a car, you can speak with the finance experts at LaFontaine Ford of Flushing. Our staff has a thorough understanding of different payment plans, loan types, and general financing options.

Subprime financing is a perfect example. If your credit score isn’t as high as you’d like it to be, a subprime financing plan may be what you’re looking for.

While speaking with our staff is the quickest way to develop your plan, we have online resources—like this overview—to keep Flushing, Swartz Creek, and Flint, Michigan, drivers informed!


Two people discussing financial optionsWhat Is Subprime Financing?

In a nutshell, subprime financing is a loan type that’s offered to folks whose credit score isn’t as high as they might like. The purpose of a subprime loan is to ensure you can still drive off the lot in a vehicle that you really love.

Each subprime financing agreement is different. When you get in touch with our team, they can determine which version of a subprime loan would work best for you. Once they have an idea in mind, they’ll explain it to you and answer any questions you might have. If you want to alter the agreement in some way, they’ll work to accommodate your needs.

Subprime loans are most often given to those with a credit score below 600. While you can consider a subprime loan, you can also begin working to improve your credit score.


Learning financial tipsHow to Boost Your Credit Score

Boosting your credit score won’t happen overnight. However, if you follow certain recommended steps, you will start to see your score grow over the course of time.

First, you want to try to consolidate all of your debt onto a single card. Secondly, do your best each month to pay off your debts in full. The longer you allow unpaid debts to linger, the less likely it is that your credit score is going to rise.

Always avoid paying off one card with another. Trying to pay off one card with a different card is just displacing the debt rather than eliminating it. Lastly, you want to stay away from large cash advances. While it may be tempting to accept a chunk of money, these cash advances usually come with high interest rates.

There are other options you can take advantage of, if you want to improve your credit score. Our team would be happy to go over all these options with you. Just reach out to us online or come by in person.


Consider a Subprime Loan or Another Flexible Financing Plan

People are often stunned to realize just how flexible financing can be. There are more options available to you than you probably realize. So, if you know there’s a vehicle you want near Flushing, Swartz Creek, or Flint, MI, get in touch with our financing experts.

Each of our staffers at LaFontaine Ford of Flushing is going to work tirelessly to ensure you have a financial agreement that you can feel good about!

 

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