Bad Credit Car Loans
Here at Dyer Chevrolet Vero Beach, drivers can explore a range of financing options in Fort Lauderdale, South Florida. Bad credit financing is a wonderful option for those with adverse credit history. It bridges the gap between reliable transportation and low scores, ensuring that people of all economic statuses can enjoy the benefits of Chevrolet’s best used cars in South Florida.


Much like a regular auto loan, bad credit financing is an option that buyers can use to pay for a vehicle. Instead of paying for the upfront costs of a vehicle, the buyer can pay a little off each month with an interest rate.

Those with less-than-perfect credit scores can apply for bad credit financing and hope for approvals in situations where they might not usually have access to lending.

There’s no catch to bad credit financing. In short, the rates and terms are made clear to the buyer at the time of signing. The only difference between bad credit financing and regular auto loans would be the credit history of the buyers and the down payment requirements. Those with great credit scores can sometimes evade the down payment option and still enjoy significantly low payments, due to the credit score they have.

With bad credit car loans, buyers will want to include a 20% down payment as well as any trade-in value (if any). While it might seem like a pain upfront, putting a down payment and trade-in value toward a car payment is helpful to the buyer in the long run by keeping the auto loan from becoming ‘upside down’.


To apply for bad credit car loans, the process is the same as it would be for a normal loan. You fill out an online credit application. Provide proof of insurance and your last two recent pay stubs or tax return information. You’ll note how much your monthly mortgage or rent payment is (if any).

All of this information adds up to a debt to credit ratio, known as the DTI, or debt-to-income ratio. This ratio is very important because the United States does impose a legal limit on lenders. The average buyer can only borrow up to a certain amount of money in the eyes of Uncle Sam. Strict lending laws keep predatory loan rates from taking over your monthly paycheck, so you can still afford the necessities and drive a reliable vehicle.

Once our Chevy finance department processes your request, we will notify you of either an approval or denial. If we need additional information to complete your application, you will be the first to know! Overall, we would say that the process is quick and painless, just as it would be for a standard auto loan. The only difference? We consider all credit scores!


If you’ve had a financial hardship bring down your score, you’re not alone. According to a 2016 study by Experian, 30% of Americans have poor or bad credit, with plenty of people having no credit at all. You’re not alone when it comes to finances. If you have been through any of the following situations, your credit score might have dived:

  • Divorce
  • Medical bills
  • Foreclosures
  • Repossessions
  • Bankruptcies


Our bad credit financing option gives people a chance to rebuild and restart. With a subprime auto loan, you can drive the car you want while building your credit back up with on-time monthly payments.

Once your score rises, you can refinance with our Chevrolet finance department and enjoy an even better rate and monthly payment. There is no drawback in a scenario where you’re taking back the power, one payment at a time. To learn more about our financing options, contact our team.


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