Can You Buy a Subaru With Bad Credit?
Apply for Financing with Reedman-Toll Subaru of ExtonIf you're wondering whether bad credit automatically disqualifies you from buying a Subaru, the short answer is no. Many drivers are surprised to learn that financing options are often available even if your credit score isn't perfect. At Reedman-Toll Subaru of Exton, conveniently located at 421 West Lincoln Highway in Exton, our finance team works with a wide network of lenders to help customers explore realistic solutions, whether you're shopping for a dependable used Subaru or considering one of the most affordable new models in the lineup. Your credit history may influence your loan terms, but it doesn't have to stop you from getting behind the wheel of a safe, capable Subaru.
Affordable Subaru Options to Consider
If you're shopping with credit challenges, keeping the total vehicle price manageable can make financing easier. That's why many buyers start by looking at used Subaru models. A pre-owned Subaru Outback, Forester, Crosstrek, or Impreza can offer strong value, lower upfront costs, and potentially lower monthly payments compared to a new model. If you prefer to shop new, Subaru's most budget-friendly options are typically the base trims of the Subaru Crosstrek and Subaru Impreza. These models are often among the lowest MSRP vehicles in the new Subaru lineup. Even at the base level, you'll still enjoy standard Symmetrical All-Wheel Drive, advanced safety technology with Subaru EyeSight, and impressive fuel efficiency. Choosing a lower starting MSRP vehicle can help improve loan approval odds and keep payments within reach. Our team can walk you through both new and used inventory to help you find a vehicle that fits your financial comfort zone.
5 Steps to Improve Your Auto Loan Approval Odds
While lenders look at your credit score, it's not the only factor they consider. There are several steps you can take to strengthen your application:
1. Know Your Credit Situation
Before applying, review your credit report so you understand where you stand. If there are errors, correcting them could improve your score.
2. Save for a Down Payment
A larger down payment lowers the amount you need to finance. This can reduce lender risk and may help you qualify for better terms.
3. Consider a Co-Signer
If a trusted family member or friend with stronger credit is willing to co-sign, it can improve approval odds and potentially lower your interest rate.
4. Show Stable Income
Lenders want to see consistent employment and reliable income. Bringing proof of income and residence can help streamline the process.
5. Choose a Realistic Loan Term
Longer loan terms may reduce monthly payments, while shorter terms can save on interest. The right balance depends on your budget.
Working with an experienced finance team can make a big difference, especially if you've faced challenges in the past.
1. Know Your Credit Situation
Before applying, review your credit report so you understand where you stand. If there are errors, correcting them could improve your score.
2. Save for a Down Payment
A larger down payment lowers the amount you need to finance. This can reduce lender risk and may help you qualify for better terms.
3. Consider a Co-Signer
If a trusted family member or friend with stronger credit is willing to co-sign, it can improve approval odds and potentially lower your interest rate.
4. Show Stable Income
Lenders want to see consistent employment and reliable income. Bringing proof of income and residence can help streamline the process.
5. Choose a Realistic Loan Term
Longer loan terms may reduce monthly payments, while shorter terms can save on interest. The right balance depends on your budget.
Working with an experienced finance team can make a big difference, especially if you've faced challenges in the past.
What Are the Benefits of Buying Used from a Dealership?
For buyers with bad credit, used vehicles often make the most sense. A lower purchase price generally means:
- Smaller loan amounts
- Lower monthly payments
- Potentially lower insurance costs
- Faster opportunity to build or rebuild credit
Subaru vehicles are known for long-term reliability and strong resale value, which makes them appealing in the pre-owned market. Choosing a well-maintained used Subaru can give you confidence on the road while keeping your financial goals in focus. Financing a used vehicle and making on-time payments can also help you gradually improve your credit score over time.
Take the Next Steps at Reedman-Toll Subaru of Exton
Bad credit doesn't have to mean giving up on owning a dependable vehicle. Whether you're interested in an affordable used Subaru or one of the lowest MSRP new models like the Crosstrek or Impreza, the team at Reedman-Toll Subaru of Exton is here to help you explore your options with clarity and respect. Browse our inventory online or stop by to speak with our finance specialists in person. You can also use the contact form below to connect with our team and start a conversation about your financing options today.
