Toyota of Santa Fe

Phone Numbers:
Sales: (505) 780-4763 Service: (505) 780-4767 Parts: (505) 819-5879 Rental: (505) 819-5884

Express Maintenance

Phone Number:
Service: (505) 780-4767

Toyota of Santa Fe

1601 St Michaels Drive, Santa Fe, NM 87505

Express Maintenance

1920 Cerrillos Road, Santa Fe, NM 87505

Toyota of Santa Fe

Sales Hours

Holidays 10am-5pm.
Monday – Friday: 8:30AM – 7:00PM
Saturday: 9:00AM – 6:00PM
Sunday: Closed
Remote Sales Open 24/7

Service Hours

Monday – Friday: 7:00AM – 5:30PM
Saturday: 8:00AM – 5:00PM
Sunday: Special Hours 10am-5pm, on selected dates. See Dealer

Parts Hours

Monday – Friday: 7:00AM – 5:30PM
Saturday: 8:00AM – 5:00PM
Sunday: Closed

Rental Hours

Monday – Friday: 8:00AM – 5:30PM
Saturday – Sunday: Closed

Express Maintenance

Express Hours

Monday – Friday: 7:00AM – 6:00PM
Saturday: 8:00AM – 5:00PM
Sunday: Closed

What Requirements are There to Get an Auto Loan?

Car Loan


Financing a car is the process of applying for an auto loan from a bank, credit union, online lender, or through your dealership. However, qualifying for a car loan isn’t something that happens automatically. The lender will need to feel certain that you have the means to pay back the money you borrow. They’ll look to the following factors when making their decision:

  • Credit Score
  • Loan Amount
  • Length of Loan
  • Debt-to-Income Ratio
  • Age of the Vehicle

If you think you don’t have what you need to qualify for a car loan, don’t give up yet! Even if you have a low credit score, qualifying for a car loan is still possible. Many lenders are willing to work with you and may even bend the requirements if you can prove that you have the means to pay back your loan.

In this guide from the Toyota of Santa Fe finance department, we’ll look in detail at what you need to qualify for a car loan in Albuquerque, and what route you should take for the highest chance of approval.

How to Qualify for a Car Loan

If your credit score isn’t where you’d like it to be, but you’re wondering how to get a car loan anyway, you’re definitely not alone! We hear all the time from Rio Rancho-area drivers who worry that a low credit score will prevent them from qualifying for a car loan. 

Yes, you can get a car loan with bad credit—but you’ll need to adjust your expectations. Learning how to qualify for a car loan may involve a few extra steps, and it’s likely that you will pay a higher interest rate. Here’s what you need to know before you apply:

  • Ask a family member or close friend to cosign your loan. If you know your credit score is low or you don’t have a strong credit history, a cosigner may assure your lender that you’ll be able to pay back the loan.
  • Set your budget. Be honest with yourself about how much you can pay each month without stretching your budget. Remember to consider expenses like registration fees, insurance costs, maintenance, and gas. 
  • Make a bigger down payment. One way to assure your lender that you can meet your monthly payment schedule is to make a large down payment. Doing so will also lower your monthly bill.
  • Boost your credit. Check your credit report for any errors or outstanding debts that you can pay off right now. You may be able to boost your score by a couple of points!
  • Find the right lender. A lower credit score doesn’t mean that you won’t get a decent offer! Apply to multiple lenders and then compare offers.
  • Apply for financing online to get pre-approved. Then, you can work directly with our finance experts to hammer out a payment plan that fits your needs.

Want to Know More About Qualifying for a Car Loan in Santa Fe?

Connect with our team to learn more about the process of applying for and qualifying for a car loan in the Espanola area! Plus, be sure to take advantage of our online car-buying tools to estimate your monthly payments and value your trade-in vehicle.

More from Toyota of Santa Fe

  • 2023 Toyota 4Runner Interior

    Sure, the Toyota 4Runner might be best known for its rugged design with plenty of off-road prowess. But inside the cabin, you’ll be treated to total luxury. The 2023 Toyota 4Runner interior is bursting with style, along with a wealth of high-tech amenities to really elevate your Albuquerque drives. Get a sneak peek into the…

  • 2023 Toyota Camry MPG

    Have you been to your local Santa Fe gas station so often that the staff knows you by name at this point? Then you’re probably in the market for a car that’s a little more fuel efficient. That’s where the Toyota Camry fuel economy comes in. The 2023 Toyota Camry mpg estimates can reach up to…

  • How Much Can a 2023 Toyota Tacoma Tow?

    Whether you need to haul heavy machinery on the worksite or you need to bring a boat to your outdoors trip, the new Toyota Tacoma has the power for either. When properly equipped, the 2023 Toyota Tacoma towing capacity maxes out at 6,800 pounds! Find out how the hauling power varies for different configurations and…

Toyota of Santa Fe 35.6619682, -105.9759812.