What Gives You Bad Credit?

January 25th, 2018 by

Getting Finance

Manchester and Lakewood drivers looking to buy a new vehicle already know how important credit is. So what gives you bad credit? There are a variety of factors that contribute, including:

  • Debt-to-income ratio
  • Delinquent payments
  • Incorrect credit reporting

Find out more about what gives you bad credit and how you can still get a car loan if you’re having credit problems at Honda of Toms River.

Reasons for Bad Credit

  • Debt-to-Income Ratio – If you have quite a bit of debt but are not making enough money to pay it back quickly, your credit score may be hurt.
  • Delinquent Payments and Bankruptcy – If you’ve had trouble making on-time credit card, mortgage, car loan, or rental payments, then your accounts could be flagged, which would be bad for your credit. In fact, too many late payments can potentially lead to bankruptcy, which is one of the biggest hits to your credit score.
  • Incorrect Credit Reporting – In some cases, a credit reporting agency makes a mistake, attributing the credit mistake of someone else with your name to you. If that’s the case, you can dispute your credit report in order to get it corrected.

Get a Bad Credit Car Loan

While having bad credit can be frustrating and difficult to go through, it doesn’t have to be permanent–and it doesn’t have to keep you from getting the car you want. At Honda of Toms River, we can deliver bad credit car loans. In addition to offering our clients the chance to get the car they want no matter what their credit may be, we also offer other services to make car-buying easier, including:

Get the Car You Want at Honda of Toms River

Don’t let financial troubles get in your way. Take the trip from Manchester to Honda of Toms River to get a new or pre-owned Honda at 346 Route 37 East in Toms River, NJ. Our dealership is open Monday through Saturday, and you can apply for financing online or call us with questions!

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