Bryant Motors


Serving Sedalia, Boonville, Clinton, Jefferson City, Marshall, Warrensburg and Central Missouri
(800) 886-2701

2901 South Limit Ave. Sedalia, MO 65301
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4 Factors That Can Make Securing Your New Car Loan Difficult

Avoid these potential roadblocks between you and your new set of wheels

approved rubber stamped on car loan

Whether buying a new or used car, most people don’t want to purchase a vehicle outright. If this is you, then you’ll need to secure a car loan. But depending on your current financial situation, some lenders may hesitate to give you approval.

Here are a few factors that can make it difficult to receive approval on an auto loan:

1. Bad Credit

Any time you apply for a car loan, the lender is going to check your credit score. If you’ve made some financial missteps in the past and have bad credit, this could lead a denial.

What are some ways that you could end up with bad credit?

Two mistakes that can do serious damage, even to a great credit score, are defaulting on a loan and filing for bankruptcy. If you defaulted on a past car loan and had the car repossessed, it becomes much more difficult to get approved for another car loan.

Other important factors when it comes to your credit score are your payment history and credit utilization. Your payment history will suffer if you don’t make your minimum bill payments on time, especially if you fail to make a credit card payment. Your credit utilization suffers if you consistently use more than thirty percent of your available credit.

Neither of those factors will lower your credit score right away, but if a poor payment history and high credit utilization become a consistent issue, then your credit will suffer.

2. Lack of Credit History

Your credit score is a sign of your “creditworthiness.” If you haven’t established any credit history, it’s almost as problematic as having a bad credit score.

If you haven’t received any loans or credit cards in the past, then you may have little, if any, credit established in your name. Lenders will be wary about issuing you a car loan because you haven’t proven that you can be trusted to pay back the money you borrow.

The good news is that it’s easier to establish credit than it is to repair it. By obtaining, using and diligently paying off a credit card, you’ll quickly increase your credit score.

3. Income Issues

Perhaps you have a good credit score, but you don’t make enough money to pay off your car loan. In this scenario, the car lender may choose not to approve your loan.

What lenders typically look at is both your monthly income and your debt-to-income ratio. With your monthly income, they compare the amount you make with how much your car loan payment would be. For your debt-to-income ratio, they look at how much you have in debt payments per month compared to how much you make.

These factors are not a measure of whether or not you’re a high earner. If you are a low earner with few expenses and low debt, you can still receive approval on a car loan. On the other hand, if you’re a high earner but you already have quite a few debts to pay, a lender might deny your application.

4. Missing Documentation

One of the easiest issues to avoid is forgetting to include the required documents with your loan application. You may need to include copies of pay stubs as proof of income, your driver’s license or other documents when you apply for a loan.

More people get denied for this than you might think, and it’s a good idea to double check that you’ve included everything before you turn in your application.

How to Apply for a Car Loan

At Bryant Motors, we know how hard it can be to obtain auto financing, and our goal is to make it easy for everyone to get a car loan. We can help you secure a car loan even if you haven’t established your credit yet or if you have poor credit.

Check out the Bryant Motors Financing Center for a car loan calculator that can provide you with potential loan terms and an online finance application that can get you pre-approved for your car loan in just minutes.

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Bryant Motors
2901 South Limit Ave
Sedalia MO 65301
(800) 886-2701
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Full Service Dodge, Chrysler and Jeep Dealership
Serving Sedalia, Warrensburg and Whiteman AFB, Missouri

If you're in the market for a new or used vehicle, we invite you to browse our online showroom or come on down to our dealership and check out our inventory. Bryant Motors has been the premier go-to place for central Missouri's transportation needs for nearly 80 years.

Once you step on the lot or in the showroom, our personable and caring team of auto specialists will show you why we've remained Sedalia's leader for new & used trucks, SUVs, cars and more.

Check Out Our Vehicle Inventory including:

New Cars: Come test drive our Chrysler 200, 300 and Dodge Avenger. The revitalized Dodge Dart provides economical transportation with the handling you'd expect from a sports car. For modern day classics, we recommend Dodge Charger and Challenger. And if you're really in need to speed, the Dodge SRT Viper is in a class all to itself.

New Trucks: Find the best selection of both 2-wheel and 4-wheel drive trucks in central Missouri at Bryant Motors. For best-in-class towing & fuel economy, test drive Motor Trend's Truck of the Year for both 2013 and 2014, Dodge's Ram 1500. For a more heavy-duty trucks, we recommend Ram 2500 and 3500 models.

New Minivans: Looking to buy a family car? Check out Dodge Caravan and Chrysler Town & Country. These popular family van set the standard for minivans.

New SUVs: When it comes to Jeeps, we have the best selection of all Jeep models including Cherokee, Grand Cherokee, Wrangler, Patriot and Compass. Dodge SUVs are one of our best sellers. The Dodge Durango provides both power and room, while Dodge's new crossover, the Journey, seats 7 and is the most affordable crossover-SUV on the market today.

Used Cars & Trucks: looking for a good used vehicle? Bryant Motors' pre-owned department carefully screens each used vehicle to ensure you're getting the dependability you need. Choose from a wide array of makes and models, including many one-owner cars, trucks and SUVs.

Find the latest Dodge Ram, Jeep Wrangler and other exciting models, or browse our extensive inventory of quality new and used automobiles

Our Sedalia-based auto dealership serves the new and used car needs of surrounding communities, including Warrensburg and Jefferson City.

Find top-quality Dodge, Chrysler and Jeep, including the Ram 1500, Wrangler/Grand Cherokee and other models designed for getting the job done or getting through some of the serious farm and rural country Missouri is known for.

Bryant Motors is centrally located to residents of Sedalia and surrounding areas, as well as vacationers heading to Lake of the Ozarks or Osage Beach.

When you visit our showroom at 2901 S. Limit in Sedalia, you will not only find exciting new Dodge, Chrysler and Jeep models. You'll also find the most knowledgeable and friendly sales staff out in all of central Missouri.

Come visit our dealership near: Warrensburg , Whiteman AFB , Jefferson City, Marshall, Clinton, Boonville

Bryant Motors Auto Service & Repair Serving Sedalia, Warrensburg, Whiteman AFB and Jefferson City

Where you purchased your new Dodge Ram, Grand Caravan or used car is irrelevant - Bryant Motors' service department is here to help with all your automotive maintenance and repair needs.

We offer auto repair and maintenance on all models, regardless of where they were manufactured or purchased.

Whether you need a basic oil change , brake services , auto A/C repair , transmission repair or a total engine overhaul, experienced, factory-trained technicians will get you back on the road as fast as possible.


Find Popular New & Used Cars, Trucks and SUVs:

Chrysler: Chrysler 200 Touring, Chrysler 200 Limited, Town & Country, Chrysler 300

Dodge: Dodge Journey

Ram Trucks: Ram 1500 Ram 2500

Jeep: Patriot Latitude, Compass Latitude, Grand Cherokee (Limited, Overland, Summit), Wrangler

Bryant Motors
Central Missouri Best Car Dealership
Serving Customers in Sedalia, Warrensburg, Whiteman Air Force Base, Jefferson City & Surrounding Areas including Marshall, Boonville, and Clinton, MO