Bad Credit Car Loans near Springfield, MA

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A low credit score is nothing to be ashamed of, considering how easy it can be to fall into temporary financial difficulty. The challenge, though, can be getting approved for a loan when you absolutely need to buy a car. Balise Chevy Buick GMC understands that good people sometimes end up with bad credit and may just need a little help until the situation improves. That’s why we have lending options for credit-challenged vehicle buyers, with various bad-credit car loans. Credit challenges can also include those who simply haven’t established a credit history yet and simply haven’t had a chance to prove that they’re responsible with their bills. If you’ve applied for a vehicle loan recently and were turned down, talk with our financing team: there may be an easy solution. In the meantime, read on for some answers to common questions that people with poor credit often ask.

What’s Considered Bad Credit?

In general, a “bad” credit score is one that falls under 670 on FICO’s scale of 300 to 850. Even then, that range between 300 and 669 is split into “very poor” and “poor,” and some lenders who aren’t willing to work with applicants in the “very poor” range will accept those whose scores are in the somewhat higher “poor” category. A kinder way of putting the term “bad credit” is “subprime”: you’ll often hear about subprime loans, which means the same as a bad credit loan. While these loans usually carry higher interest rates (because a person with a poor credit history is riskier for a creditor to work with), remember that after a few years of paying your loan on time and bringing up your score, you’ll be eligible for better loan terms and you’ll pay less interest.

How do I know what I can afford?

This is a tricky question because affordability is not as simple as what a buyer is approved for: you have to be honest about not only what you can pay each month (for as many years as your loan term goes) but also about what you need in a vehicle. Your financing representative will work with you to pin down your budget as well as to find the loan that works best for you. When you’re determining your monthly expenses, be sure to take in to account not just the essential bills but also emergencies, some “fun” money for an occasional meal out or other treat, and some savings. When you’re choosing a vehicle, keep in mind that this is not the time to buy your dream car. Get a good, dependable car with the features you need, not necessarily the options you simply want, and keep on building your credit and overall financial well-being so that you can buy something more elaborate in a few years.

What can I do to rebuild my credit?

Once you’re approved for a bad credit car loan, it’s all uphill from there as long as you make each payment on time and don’t incur any new debt. Steadily but surely, your score will rise as you make each payment, because you’re showing that you’re responsible with the cash that was lent to you, and you’re lowering your debt-to-credit ratio. This means that you’ve borrowed a lower percentage of the overall credit that’s been extended to you from all lenders combined (your other installment loans and credit cards). Lenders like to see an applicant using as little of their available credit as possible, because it shows more responsibility with finances than the person who maxes out all of their credit cards and just makes the minimum payment each month. 

Our Western, MA community means a lot to us, and we feel like it’s our duty to serve those in need by helping provide people with auto loans that are manageable. That way, when consistent payments are made, you’ll quickly begin to see your credit score soar. So, what are you waiting for? If you want more financial confidence, then head on over to Balise Chevy Buick GMC today so we can help you out!

Common Bad Credit Causes

Bad credit can spring out of nowhere when you least expect it. At Balise Chevy Buick GMC, there are a handful of situations we see the most among our customers that can result in bad credit, which you can learn more about below.


There are several people in the Springfield, MA area who have lost their homes due to foreclosure. If this has happened to you, then don’t wait any longer to get back on your feet. Come and visit our financial department today so we can help you break free from this dreadful situation.


Divorce can leave us devastated in many ways, and oftentimes, our credit can take a hit as a result of this big change. While you likely have a lot more on your mind than taking out an auto loan, this is a great way to build yourself back up and get back on solid ground so you can continue to move forward.


Filing for bankruptcy can give people a fresh start financially; however, it will tank their credit score. If you’ve recently declared bankruptcy and are looking for a way to improve your situation, an auto loan may be just what you need to get started.

Missed Payments

Missing a payment can happen to the most diligent of us, but it’s something you certainly don’t want to make a habit of. When you miss your payments on a regular basis, you’ll find that your credit score will plummet. Some of us have a hard time managing our bills, so if you’re interested in finding a more effective way of ensuring they’re made on time and in full, come and chat with our finance professionals today.

First-Time Buyers

Everyone has to start somewhere, right? If you’re a first-time car buyer, then chances are you don’t have any credit. If this sounds like you, then schedule an appointment with our finance professionals today so we can help you secure your first auto loan.