Home >> Bad Credit Car Loan

Bad Credit Car Loan

We have processed more than 5 million car loan applications since 1989.

Bad Credit History?

Bad Credit Car LoanSometimes you make financial mistakes that can damage your credit score, which makes it difficult to get loans when you need them. Then without warning, your car quits running, and you are faced with the task of buying a new vehicle. You are worried because your bad credit can keep you from getting the loan that you need to buy a new car. However, you can get a bad credit car loan that can help start rebuilding your credit.

Getting A Car Loan

One of the first things that you need to do when getting a car loan for bad credit is to search for a dealership or a bank that focuses on bad credit consumers. These dealerships specialize in special finance loans for people who have filed for bankruptcy, had a home foreclosed upon or have credit collections. You need to be realistic and realize that most of these banks will require customers with these types of credit situations to have a down payment to purchase a vehicle. A lender will only allow you to borrow a certain amount of money, so you need to look for a used car loan that is a wise choice financially.

Things to do before going shopping for a bad credit car loan:

In order to qualify for a bad credit car loan you will need to locate copies of your paycheck, driver’s license, and a current bill that proves your current residence. You might also need to obtain copies of a bank statement and car insurance. In some instances references might even be requested. If you do not have a checking account, some lenders will accept a debit card account.

When all of the paperwork is in place, then you can begin finalizing the car finance process Do not get concerned when you find out that your car loan interest rate is high. In most cases, you will be able to refinance your vehicle in a couple of years after you established and improved your credit score. Let them know how much of a down payment and monthly payment you can afford. If you already have bad credit, then you do not need another loan that you cannot pay.

When getting a car loan for bad credit, research the options available to find out what choices that you have. Finding the right loan will take patience and hard work, but it can be done, and then you can rebuild your credit and your future.

Get Social & Such

Stay up-to-date on the latest in the Auto Finance industry & More!

Do I Qualify For A Car Loan?

18 years old or older?
Sorry, you need to be 18 years or older to qualify.
Earn $1,600 or more each month?
Sorry, you need to earn $1,600 or more each month.
Stable in your job and residence?
Sorry, you need to have a stable job and residence.
Have no repossessions within 1 year?
Sorry, you can't have repossessions within 1 year.

Great! Start your application here

Start Your Application

Rates in as low as:

Source: Informa Research Services, Inc. New car loans rates are based on a 36 month term and $25,000 finance amount. Used car loan rates are based on a 36 month term and $20,000 finance amount. Applicant must have a Fico score > 760. Not every applicant will qualify.