Auto Loans Bad Credit

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Auto Loans Bad Credit – Realize Your Options

When considering bad credit auto loans, you can save your self thousands of dollars when you know concerning the options available.

Almost anyone can get auto loans with poor credit if they educate on their own first. With understanding, comes power, whenever a person signs up with regard to bad credit auto loans. A lot of people with bad credit will settle for anything they could get with negative credit auto loans. This is called a lay down or receives me done in the automobile selling business. Following waiting several hours to get a bad credit auto loan being approved, most customers are happy with any automobile loan rate they can get.

7 Simple Tips On Negative Credit Auto Loans

1. Find out what your own FICA credit score is initial. With a FICA score below 520, it may not be a good idea to pursue poor credit auto loans. It may be best to merely save money to pay funds or at least 50% of the automobiles cost. Bad credit automotive loans have interest rates up to 28%. You can end up having to pay 2 times the cost of a brand new vehicle with negative credit auto loans.

2. Take advantage of buying a new car after the month. Product sales managers give huge incentives to dealership salesman to move much more autos and bad credit auto loans. Finance managers are excited to close the particular month with the greatest unit numbers possible.

3. Just because you only be eligible for a bad credit auto loan, you don’t need to settle for whatever you could possibly get. Try using logic rather than emotions when buying a fresh vehicle. It’s best to devote some time and look into the solutions to you.

4. It may be smart to work on your credit report to bring your FICA over 640, so you don’t have to get yourself a bad credit auto loan.

5. A great co-signer can help with bad credit automobile financing. The co-signer has to have fantastic credit, because they are responsible for producing the bad credit loan payments in the event the new car buyer defaults.

6. Banks are searching for at least $1,200 each month income and no more than 20% of the income can be used for a monthly car loan payment. With a bad credit auto loan, this can be a problem.

7. First time car purchasers really should consider a powerful co-signer for bad credit automobile financing.

There are many options available when you have bad credit. Auto loans together with bad credit don’t have to be a painful experience. With research and the tools available on the internet, you can save valuable time as well as money.

Just a few clicks of your mouse and you can find everything you need when getting a bad credit auto loan.

Comments: 39

  1. Fidel May 30, 2013 at 3:16 am Reply

    I’ve applied for numerous auto loans and have been denied because I have no credit, I know no credit is better than bad credit but I really need to find a car before August. Anyone have any suggestions?

  2. Isabel June 3, 2013 at 2:46 pm Reply

    We get bad credit auto loan e-mails, apply and never hear anything back. Even the guaranteed auto loans.

  3. Bennie June 9, 2013 at 6:26 am Reply

    I went to a few car dealerships, but no one will approve me because I only have a 505 credit score. They said the only way is if I can get a cosigner.. which I dont have one. Does anyone know if there are companies or car dealers that deal with just bad credit car loans?

  4. Sherill June 24, 2013 at 5:36 am Reply

    I’m interested in buying a used car but I don’t have the money for a down payment. Can someone still get financed at a car dealership for an auto loan with zero down? The car I’m interested in is a 2004, costs about $13,000 with low miles.

    I don’t have bad credit but it’s not perfect either.

  5. Samatha July 9, 2013 at 9:31 am Reply

    I need a car for my new job. My credit is bad. How hard would it be for me to get an auto loan? Should I try a credit union or a bank?

  6. Marcelina August 6, 2013 at 7:17 am Reply

    I have poor credit and am wanting to get a car from a private seller. I don’t know what companies would approve me. If anyone has been in my situation and got approved for a car loan with bad credit, please let me know!

  7. Casey August 17, 2013 at 5:49 pm Reply

    I have bad credit but no major issues like bankruptsy, child support or anything like that….I make great money and am trying to re-establish credit…I know there are banks out there tied to dealerships that will finance me but I want to buy from a private owner and go directly through an independant bank. I plan to put down about 50% cash? Please help!

  8. Tessie August 22, 2013 at 8:08 am Reply

    I’m interested in a private loan company that specializes in bad credit auto loans. I do not want the type of loan where they refer you to 20 different dealers. I already have a vehicle in mind through a private seller. How can I just get a bad credit auto loan that has no referrals for dealers???

    Thanks
    Scotts Lisa, you’re a SCAM artist! Let me guess you’re in Nigeria too, right??

  9. Ryan August 29, 2013 at 11:07 am Reply

    if someone has bad credit, and someone with good credit co signs for them for a auto loan. Does the loan get approved on the co signers credit, or does the one with the bad credit still erect the loan. Will it still be subject to denial/high payment/high interest rate?

  10. Jillian September 23, 2013 at 8:03 pm Reply

    I’m interested in a private loan company that specializes in bad credit auto loans. I do not want the type of loan where they refer you to 20 different dealers. I already have a vehicle in mind through a private seller. How can I just get a bad credit auto loan that has no referrals for dealers???
    The amount of scammers here who are plugging their shady “services” is just disgusting!!

  11. Salena October 7, 2013 at 3:54 am Reply

    I’m a 24 year old male. I have two a bad credit history. I have late payments, two repo’s, and a bankruptcy. My bankruptcy cleared everything. Now I’m debt free, except for a 16,000 dollar auto loan balance. I was approved for my auto loan right after my bankruptcy was approved. I am making my monthly payments on time. What else do I have to do to boost my credit score, and get back on the right track. I want to buy income properties someday, and will need to have good credit. Any tips?

  12. Wei October 7, 2013 at 5:46 am Reply

    I’m going to look at some cars today and thinking about trading mine in. The car I’m looking at is probaly 4,000 more than what they will give me for my car. I have bad credit so how would I get a loan for the rest of the money. Would they just charge me a really high APR?

  13. Collin October 19, 2013 at 1:33 pm Reply

    I been trying to get a second car loan but no one will approve me does anyone know where i can get loan. Here is my situation I have a outstanding auto loan of $18,000 left. I just bought a home 09/2012 have some bad credit in the past but all been paid and close. My income i make about $50,000 to $60,000 a year.

  14. Joe November 5, 2013 at 12:25 am Reply

    I was wondering if a dealership would run a criminal background check before they approved me for an auto loan. it’s not a primary dealership, it’s a dealership that does bad credit loans. I’m 18 with no credit and borrowing around $15,000. And yes i got pre approved.

  15. Sidney November 5, 2013 at 2:46 pm Reply

    I’m interested in a private loan company that specializes in bad credit auto loans. I do not want the type of loan where they refer you to 20 different dealers. I already have a vehicle in mind through a private seller. How can I just get a bad credit auto loan that has no referrals for dealers???

  16. Latosha November 20, 2013 at 12:13 pm Reply

    I need to get an auto loan, but I have little credit history. I don’t feel comfortable giving my personal information to some of these online sites. Can anyone recommend a legitimate company?
    I am looking at buying from a private seller.

  17. Minerva November 24, 2013 at 10:36 pm Reply

    I may have bad credit. I just want to get an auto loan so I can drive again.

  18. Vergie December 16, 2013 at 6:05 pm Reply

    Instead of going to a dealer and applying through them Id like to get a bad credit auto loan on my own. Does anyone know some options ? Online sites ? National banks that are known too?
    Thanks

  19. Lance December 25, 2013 at 7:23 pm Reply

    I am trying to get an auto loan but there are some negitives on my credit. I am trying to get them off. How hard is it to get a brand new car with bad credit?

  20. Janelle January 5, 2014 at 12:54 am Reply

    I need to get a new car and need a loan. I have bad credit though. I have applied to numerous banks online and been rejected. Does anyone have some ideas?

  21. Evette January 6, 2014 at 6:49 pm Reply

    I have bad credit but am needing either a long term, or short term loan or an auto loan for someone with bad credit. I am trying to get a car as I dont have one right now.

  22. Porter February 21, 2014 at 2:43 am Reply

    Im 27 years old and I have pretty bad credit. Most of the charge offs on my credit file are about 3-5 years old. Ive been paying some of the accts little by little but I still have delinquent accts that total about $6,000. I did take out a secured credit card from BofA. I make about 40,000 a year and I have no bills besides my rent and cell phone. Im looking for a loan of about $15-20k. I already know my interest rate will be high which is fine. Any recommendations on what banks, dealer financing co. (Honda Finance Inc, Toyota, CarMax…etc) have special financing programs? Or since I do have a credit card thru BofA will it be easier for me to go thru them? Thanks for all your answers

  23. Alfred February 21, 2014 at 3:04 am Reply

    As a result of a marriage gone horribly wrong I’ve got terrible credit. My credit score is peaking at an amazing 550 right now. With numerous negative marks. It’s become imperative that I get a new car within the next couple of weeks, and I’ve got approximately $13,000 to put down on a car. I’m looking to get a newer model fuel efficient car and the average MSRP I’m getting sits around $28,000. Can I get approved for a loan in my current situation, and if so what kind of interest rate would I be looking at?

  24. Enda February 21, 2014 at 5:57 am Reply

    I have tried most online places and have been denied.
    I have been approved through 2 dealerships but they want 20-30% down. Any suggestions on what I should do.

  25. Erma February 21, 2014 at 5:57 am Reply

    Or are they all scams.

    I’ve been looking around, I heard that right way is a joke.

    What about ferderalautoloan.com ect?
    Or do you know of any others?
    Thanks

    In Michigan btw.

  26. Loree February 21, 2014 at 1:20 pm Reply

    The car I was hoping to get is about $18,000. But, Im not sure who would give me an auto loan for that much money considering that I have bad credit

  27. Gale February 21, 2014 at 3:34 pm Reply

    I am trying to get an auto loan but there are some negitives on my credit. I am trying to get them off. How hard is it to get a brand new car with bad credit?

  28. Leandro February 21, 2014 at 7:31 pm Reply

    I want to get a car through someone not a dealer but I only need 1,500. My credit isn’t that goos . help please?!

  29. Lance February 22, 2014 at 12:13 am Reply

    My score is 480 yes oucH I fucked up in college and well it has actually gone up since I’ve been paying shit off etC and I got an auto loan for 18000 for a car worth 13000 maybe I’m dumb but it costs that much because my interest rate is out of this worlD. So it turns out the car is not even worth 13000 more like 10K and now I’m stuck with it. Ill probably keep it for 7 – 9 months to build up mycredit, do u think ill be able to refinance after that time, what do I do if I want to trade the car in and get a better one. I feel trapped because my credit is so bad

  30. Rocky February 22, 2014 at 4:06 am Reply

    Does anyone have any experience with “bad credit” auto loans?

    For example: roadloans.com.

    My credit is poor because I am only 22 and have had some issues with student loans. I would rather have the loan before going to the dealer, instead of letting the dealer have the upper hand.

    I have heard some horror stories about bad credit auto loan lenders so I wanted some advise from anyone with experience. I have already been approved by them, and I know my interest rate is astronomical, but if you have any other tips I would greatly appreciate it.

    Thank you!

  31. Elfreda February 22, 2014 at 4:46 am Reply

    I have a credit score around 500. Currently I am the co-signer on my vehicle loan (just how they got it done last time) I want to purchase another used car and get my brother off my current loan. I work full time and have a base salary of 60K per year. I am in MN. Has anyone had any luck with specific lenders online.. Tried wells auto and no luck.. Thanks for your help

  32. Shaneka March 10, 2014 at 8:27 pm Reply

    okay heres the deal
    i have an auto loan out on the car i am currently driving. i want to take a 3,000$ loan out for my daughter next month so she can have a car that is reliable.
    i have bad credit, and not much money to put down either, i cant get a co signer either unless it is my daughter. she has no credit because she just turned 18, but she doesn’t have anything against her yet.

    we have about 500$ to put down on this car.

    any tips? there are a lot of in house financing places around where we live so were gonna try to go there. will they want more for a down payment? do they make you get insurance right there or can you get your own when you leave?
    its not any of your business if she has a job or not. she is having a baby in April so I’m not going to buy her a beater

  33. Robert May 4, 2014 at 12:36 pm Reply

    I am looking for an auto loan to buy a used vehicle. I don’t have bad credit but my credit is not established so I need help finding an auto loan.

  34. Rodrick May 4, 2014 at 11:06 pm Reply

    I currently am looking to buy a car that is worth $7,800, I have about $4,000 right now and would like to get a loan for the remaining amount. I have bad credit from when I was young. I can pay the loan off in no time so the interest rate doesn’t concern me. I just don’t want to miss out on the car. I was looking online and thinking maybe I should get a loan from Fidelityautoloan.com. I just would like to know if anyone knows anything about this website and knows if its legit or a complete sketchy scam.
    It’s a private party.

  35. Iliana May 6, 2014 at 10:58 am Reply

    Where can I get a bad credit auto loan? Any suggestions?

    Thanks!!!

  36. Danilo May 21, 2014 at 9:22 am Reply

    Does anyone have any experience with “bad credit” auto loans?

    For example: roadloans.com.

    My credit is poor because I am only 22 and have had some issues with student loans. I am trying to purchase a car, so I would rather have the loan before going to the dealer just so I know what I am working with.

    I have heard some horror stories about bad credit auto loan lenders so I wanted some advise from anyone with experience. I have already been approved by them, and I know my interest rate is astronomical, but if you have any other tips I would greatly appreciate it.

    Thank you!

  37. Laree May 23, 2014 at 1:19 am Reply

    I have found a car I want to buy….I need to get a loan for around $6,500…I have bad credit, is there any company that will give me a loan? I have tried several of them and have gotten shot down…help please???

  38. Will June 2, 2014 at 1:35 pm Reply

    I was wondering if anyone knew of any banks that specialize in auto loans for people with bad credit.

  39. Mauricio June 25, 2014 at 12:23 am Reply

    I am trying to buy my friends 2003 mazda speed protege.

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