Open Today! 8:30 AM - 7:00 PM
Open Today! 8:30 AM - 7:00 PM
5333 Broadway Quincy, IL 62305 844-853-5349
toyota presidents award
5333 Broadway, Quincy, IL 62305
Sales: (217) 919-9320 | Service: 217-919-9864
Parts: (217)919-9866

Learn About Bad Credit Financing in Quincy, IL

Learn About Bad Credit Financing in Quincy, IL

If you have bad credit and you're considering applying for financing in Quincy, IL, consider one of our sub-prime auto loans. We offer bad credit financing to people with less-than-perfect scores and more. The main thing to look out for when considering sub-prime loans is the interest rates.

Financial wellness begins and ends with an understanding of loan terms, budgeting, and more. If you are considering a new Toyota purchase, be sure to look at the following things:

  • NADA Values: This is the market value of your vehicle. This value should either be at or below the value listed.
  • Interest Rates: Once you know your score, do some research and see what a reasonable rate for your score should be.
  • Debt-to-income Ratios: This is the amount of debt you have accrued vs. the amount of money you make. There is a legal limit that lenders are allowed to offer each person, so if your DTI ratio is over that limit, they cannot lend to you.
  • Loan Terms: This is the combination of how much your monthly payment will be, your rate, and how long you will be paying the payment.

Know the Vehicle's Value

Get the value of your ride from our team. Be sure to find out if your vehicle has negative equity, as that will make it hard to trade it in, sell it, or refinance it.

Negative equity means that your item is now valued way less than what you owe on it.

5 Additional Reasons to Stay Away from Negative Equity:

  1. Rising DTI ratios
  2. You cannot refinance the vehicle without paying the difference in the form of a cash payment or a personal loan.
  3. Private buyers and dealers will only pay the value of the model.
  4. Your monthly payments will be higher than they would be for someone who doesn't have negative equity on the same model, year, and make.

Shop for Sub-Prime Loan Options Now

With all that being said, bad credit financing is a great way to access reliable transportation without getting yourself stuck in the hole. You can use a sub-prime loan to get yourself out of debt by looking at rates, paying your bills on time, and doing your research.

If you apply for one of our sub-prime loans, our finance department will work with you to ensure you have an understanding of this loan package.

Have questions? Talk to our finance department and learn how to say yes to reasonable sub-prime loans in Quincy, IL.

Dealer Information
Shottenkirk Toyota 5333 Broadway Quincy, IL 62305 Get Directions
Sunday:
CLOSED
Monday:
8:30 AM - 7:00 PM
Tuesday:
8:30 AM - 7:00 PM
Wednesday:
8:30 AM - 7:00 PM
Thursday:
8:30 AM - 7:00 PM
Friday:
8:30 AM - 7:00 PM
Saturday:
8:30 AM - 6:00 PM
Sunday:
CLOSED
Monday:
7:30 AM - 5:30 PM
Tuesday:
7:30 AM - 5:30 PM
Wednesday:
7:30 AM - 5:30 PM
Thursday:
7:30 AM - 5:30 PM
Friday:
7:30 AM - 5:30 PM
Saturday:
8:00 AM - 2:00 PM
Sunday:
CLOSED
Monday:
7:30 AM - 8:00 PM
Tuesday:
7:30 AM - 8:00 PM
Wednesday:
7:30 AM - 8:00 PM
Thursday:
7:30 AM - 8:00 PM
Friday:
7:30 AM - 8:00 PM
Saturday:
8:00 AM - 2:00 PM
Phone:

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