Financing FAQs in Lewisburg, WV 

What is a credit score?

A credit score is a number that ranges from 300 to 850. Your score is based on your history of repaying your debts in a timely manner. If you pay your bills on time and avoid borrowing too much money, you'll have a good credit score. However, a low score indicates that you've had trouble paying your debts, making it more difficult to obtain a loan for financing your vehicle.

Why your credit score matters

When you apply for a loan, lenders consider your credit score. If you have a high score, lenders will be comfortable offering you a loan with a low interest rate. However, if you have a low score, lenders may consider you to be a risky borrower, since your credit history indicates that you might not pay back your loan. If your credit score is below 650, you may have trouble qualifying for a standard loan. Instead, you may want to consider a subprime loan for financing your vehicle purchase.

What is a subprime loan?

Subprime loans are reserved for borrowers who have a low credit score or low income. While subprime loans typically have higher interest rates than prime loans, these loans can be a valuable tool to help you afford a car.

Do I qualify for a subprime loan?

Even if you have bad credit and low income, you may still qualify. To find out if you qualify for a subprime loan, reach out to our finance department by phone at (877) 212-5694 or through our online form.

Can I get a car loan even with no credit history?

Yes, you may be eligible to receive a no-credit car loan. It's a good idea to bring along a cosigner who can help you pay for the loan, if you can no longer manage to make payments. You may also consider saving up for a down payment to reduce the amount of money you'll have to finance.

How do I rebuild my credit?

There are many ways to rebuild your credit score. You can take on a subprime loan, which will give you the opportunity to make timely monthly payments. You can also pay your other bills on time, and pay more than the minimum amount on your credit cards. You can also rebuild your score by keeping lines of credit open, even after you've paid them off.

Need help affording your next car? Contact our finance department at Greenbrier Chevrolet Buick.

Hours

  • Monday 8:00 am - 6:00 pm
  • Tuesday 8:00 am - 6:00 pm
  • Wednesday 8:00 am - 6:00 pm
  • Thursday 8:00 am - 6:00 pm
  • Friday 8:00 am - 6:00 pm
  • Saturday 8:00 am - 5:00 pm
  • Sunday Closed

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