Financing a New Car With Bad Credit

If you’re not sure if you can finance a new Cadillac with a low credit score, you’re in luck. We work with many drivers in the Bee Cave area with less-than-ideal credit, and we can always find a way to help our customers find a new Cadillac they love. Below, we discuss some of the best ways to get the financing you need for a new Cadillac. Take a look at some of our best tips, and then make your way to our dealership to see which one of our new Cadillac models you’d like to take for a test drive!

Best Ways to Get Financing With Bad Credit

Even if your credit score isn’t quite where you want it to be, there are still plenty of ways you can secure financing for the new Cadillac you want. Here are some things you can start doing today:

  • Set a Budget: Decide how much you can afford to borrow. Then, determine a budget and consider things like registration fees, insurance, service costs, and fuel.
  • Make a Larger Down Payment: If you can make a larger down payment, you’ll look more favorable to lenders. Plus, you’ll have a lower loan balance to pay off and will pay less interest over time.
  • Pay Off Any Debts: If you have any debts, even small ones, pay those off to help boost your credit score and improve your chances of getting a good rate on financing.
  • Be Realistic: Choose the Cadillac you like, but most importantly, choose the Cadillac you can afford.
  • Compare Lenders: You don’t have to go with the first lender that makes you an offer. We suggest comparing lenders around Lakeway and elsewhere to help you get the best offer possible.

If you need help getting started, apply for financing online with Covert Cadillac Bee Cave. The process can be done from the comfort of your home in a matter of minutes before you visit us.

Financing or Leasing a Car Without an SSN

In some instances where you are a foreign worker or something more specific, you may not have a Social Security number (SSN), and this can make it harder to finance or lease a Cadillac. If you don’t have an SSN, you’ll need an Individual Taxpayer Identification Number (ITIN).

Here’s how to get an ITIN and how you can use an ITIN to finance or lease a new Cadillac:

  • Apply for an ITIN: Visit the IRS website to apply for your ITIN.
  • Build Your Credit Score: If you don’t have an SSN, you may have a low credit score. Once you have your ITIN, you can start improving and building up your credit score, which will help you get a better loan offer.
  • Find the Right Lender: Try looking for lenders who work with drivers with a minimal credit history.

If you have any other questions about financing or leasing a new Cadillac near Cedar Park, reach out to the finance experts at Covert Cadillac Bee Cave!

Finance or Lease Your New Car in Austin

Are you ready to finance a brand-new Cadillac? Even if you have low credit or no SSN, you can still get the financing you need at Covert Cadillac Bee Cave. Contact us online or visit our dealership today!