Navigating the world of obtaining a car loan with bad credit can feel daunting, but it doesn’t mean you have to give up your dream of owning a new car. While most of the major car manufacturers don’t advertise programs specifically catering to those with bad credit, some auto manufacturers (OEMs) offer inventory and incentives that are particularly favorable to this group. The best new car dealerships for bad credit have this favorable inventory and they also partner with alternative financing companies tailored to assist buyers with less-than-stellar credit scores.
Here’s a roundup of new car dealerships that offer vehicles with price tags under $25,000, perfect for those with credit challenges:
Bad Credit Kia Dealership Financing
Financing a Kia with bad credit tops the list, given that they offer three models priced under $22,000.
- Kia Rio: A small car priced from $17,875 to $18,515 that offers efficiency and reliability.
- Kia Forte: An affordable compact car ranging from $20,815 to $26,215 that doesn’t compromise on style or features.
- Kia Soul: A trendy compact hatchback ranging in price from $21,215 to $25,515 with a spacious interior.
Bad Credit Hyundai Dealership Financing
Financing a Hyundai with bad credit appears to be a versatile option. They boast three models priced below $24,000, encompassing a sedan, hatchback, and SUV.
- Hyundai Elantra: Another value-packed offering with modern features. The Elantra is priced between $22,065 and $28,615
- Hyundai Venue: A small hatchback priced from $20,985 to $24,235 that is perfect for city driving.
- Hyundai Kona: Priced from $23,475 to $31,785, this small SUV delivers a big bang for the buck.
Bad Credit Mitsubishi Dealership Financing
Financing a Mitsubishi with bad credit is feasible when you look at options like the Mirage hatchback and sedan, both priced under $19,000.
- Mitsubishi Mirage: One of the most affordable hatchbacks on the market priced from $17,790 to $19,690, is known for its simplicity and efficiency.
- Mitsubishi Mirage G4: Similar to the Mirage, the G4 is the sedan version of the compact car priced from $18,890 to $20,390.
- Mitsubishi Outlander Sport: Coming in slightly over $25,000, this compact SUV offers a balance of value and features. Pricing ranges from $25,140 to $29,940.
Bad Credit Nissan Dealership Financing
Financing a Nissan with bad credit seems promising, given their three models available under $22,000.
- Nissan Versa: Priced from $17,075 to $21,065 the Versa is a top choice for affordability without compromising safety or tech features.
- Nissan Sentra: Priced between $21,295 and $24,185 the Sentra offers a blend of comfort, style, and performance.
- Nissan Kicks: Priced from $21,925 to $24,485, the Kicks is a small sporty SUV with modern features.
Bad Credit Toyota Dealership Financing
Financing a Toyota with bad credit is attainable, as they offer three models under $25,000 and have multiple dealerships to explore.
- Toyota Corolla: Known globally for its reliability and value, the Corolla is priced between $22,995 and $28,235.
- Toyota Corolla Hatchback: The hatchback version of the iconic Corolla is priced from $24,450 to $27,750.
- Toyota Corolla Cross: The SUV version of the iconic Corolla is priced from$24,960 to $32,415.
Bad Credit Chevrolet Dealership Financing
Financing a Chevrolet with bad credit is worth considering, especially for SUV enthusiasts, given that Chevy offers the most affordable SUV available.
- Chevrolet Trax: A compact SUV, priced from $21,495 to $24,995, that combines versatility with economy.
- Chevrolet Trailblazer: The super stylish Trailblazer is a small SUV priced from $24,395 to $29,995.
Bad Credit Mazda Dealership Financing
Financing a Mazda with bad credit is a viable consideration, as Mazda offers two models around the $25,000 mark.
- Mazda CX-30: It is a small 4 door sport utility vehicle with 7 trim levels starting at $24,325.
- Mazda3: Renowned for its sporty drive and stylish design at a favorable price point starting at $25,335.
What’s important to remember is that while the cost of the vehicle is crucial for those with bad credit, the terms of the financing are equally significant. Dealerships that work with alternative finance companies often offer flexibility in terms and conditions, which can make monthly payments more manageable.
When shopping, it’s also advisable to keep an eye out for new car rebates and incentives. Many times, these OEMs offer discounts or cashback offers that can further reduce the effective price of the vehicle, making it even more affordable.
Wrapping It Up
Having bad credit doesn’t mean one has to compromise on the dream of buying a new car. It’s about finding the right dealership that understands individual needs and has a solid relationship with alternative financing sources. Brands like Kia, Chevrolet, Hyundai, Mazda, Nissan, Toyota, and Mitsubishi offer a wide array of models under $25,000, making the dream of owning a new car a reality for many. Happy car shopping!
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