How to Go Through Toyota Financing With Bad Credit

Call a local Toyota dealership. Ask for a sales representative and let him know that you have bad credit but want to use Toyota Financial. Make an appointment with the sales representative--she will ask you to come in to the dealership.

Gather necessary documents for a complete approval for Toyota Financial. Bring your most recent pay stub and proof of residency, such as a utility bill in your name. Upon approval, a Toyota Financial representative has to review this information.

Arrive at the dealership and ask for your sales representative. Do not expect to immediately pick out a car. Because of your credit, you might be limited in your options.

Fill out the credit application by providing your name, address, date of birth, social security number and employment information. Be accurate when supplying your gross annual income. List your rent or mortgage payment and how long you've been at your job and residence.

Sign your credit application, wait for the sales representative to run your credit and let you know your next step. You may told that you can expect a phone call after the dealer has "worked on it," meaning that the dealer cannot get you approved without negotiating with a bank representative.

Allow your sales person to instruct you further. You may be asked to put significant money down or you may have vehicle limitations. If the latter is the case, your sales person will show you vehicles that fall within bank guidelines--you can pick out your car once you are approved.


  • Work with the Toyota dealer and be patient. Approval time for a bad credit loan can take several days.

    You do not have to use Toyota Financial. The dealer may be able to obtain your approval with another bank.


  • Do not start shopping before you have your approval. There is a very good chance you'll have only a select few vehicles to choose from--getting your approval first will save you time.