Can You Cash In On Holiday Weekend Deals If You Have Bad Credit?

Get Car Financing
Even with poor credit.

By

Senior Automotive Editor

Christian Gulliksen was the Senior Automotive Editor for CarsDirect. He was formerly a senior editor with Robb Report magazine, and has contributed to publications like Worth, Variety, The Hollywood Reporter and MarketingProfs.com.


, Senior Automotive Editor - May 20, 2016

Bargain hunters often wait for big sales and promotions on holiday weekends like Memorial Day. But can you still cash in on these deals if you have bad credit? The answer may be yes.

Manufacturers typically offer two types of holiday incentives:

  • Financing with interest rates that might be as low as 0%
  • Cash rebates that range from several hundred to several thousand dollars

If your credit isn't great, the first option is out—only customers with credit scores well into the 700s usually qualify for low-APR financing.

Get pre-approved from a trusted CarsDirect dealer that understands your credit situation »

But you don't need good credit to qualify for cash rebates. The only catch is that getting those rebates hinges on your ability to get financing for the new car you want to buy. And doing that depends on your credit score—is it bad or really bad?

The phrase "bad credit" covers a lot of territory. The best type of bad credit is called non prime and tends to cover credit scores that fall between 620 and 679; if your score is above 650, you stand a better chance of getting approved for a new car loan.

This isn't to say you can't get new car financing if your credit score is lower than 650. We've heard of customers getting approved with subprime (500-619) scores in the mid-500s. This is rare, though, and more likely to be available for unpopular models from manufacturers like Chrysler and Mitsubishi.

The best way to find out if you qualify for a new car loan—and holiday weekend rebates—is to apply for pre-approval from a trusted dealer in the CarsDirect network. Even if you've been turned down elsewhere, we can help you find a dealership that specializes in second-chance loans.

Free Credit Score

Get your free credit score now! Get a copy of your most recent credit score.

Get Your Free Score

Auto Insurance

Get competitive quotes on insurance in your area.

Vehicle Warranty

Protect your vehicle and you could save thousands on auto repairs.

Get a Free Quote

Need a Car Loan?

It only takes a minute.

, Senior Automotive Editor

Christian Gulliksen was the Senior Automotive Editor for CarsDirect. He was formerly a senior editor with Robb Report magazine, and has contributed to publications like Worth, Variety, The Hollywood Reporter and MarketingProfs.com.


Loan approval is not guaranteed and is subject to credit application and approval of the lender. Individual loan terms may vary. Use of this website constitutes acceptance of CarsDirect.com's Terms of Use, Disclaimer, Privacy Policy, and Cookie Policy.

Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
COPYRIGHT 1999-2020 MH Sub I, LLC dba CarsDirect.com