Here is a hard truth about buying a car with relatively new or bad credit: You'll likely need a down payment. Most banks will require "at least 10 percent down payment, or $1,000, whichever is ...
Learn more about how your credit score affects your car loan. Find the Right Lender. Getting a bad credit car loan isn’t much different than getting a regular car loan, but there are a few extra hoops you’ll have to jump through. There are lenders that specialize in customers with bad credit, but they’re not your only choice.
However, for many people bad credit will often stifle their attempts to get a car loan, leading to a catch-22 scenario. You need the car to make the money, you need the money to pay the bills, and you need to pay your bills to maintain a good credit history. Without a car, everything falls into disarray.
For over 20 years, we’ve been helping bad credit car buyers get the financing they need by connecting them to local dealers that have the right lending resources available. To get started, fill out our free and simple auto loan request form , and we’ll get right to work connecting you to a dealership near you.
Why is CarsDirect the Best Choice for Bad Credit Car Loans? We have been in the bad credit car loan business since 1998, and over this time we have built one of the industry's leading network of dealers, specializing in helping people like you rebuild their credit and start driving again.
Very Bad Credit (449 or less) People with what's considered very bad credit—also called deep subprime borrowers—are not always approved for a car loan. Those borrowers that are approved will pay very high-interest rates, an average of 18% for a new car, and 18.25% for a used car.
Do you have bad credit and need a vehicle? Read on to learn about the key steps to take in order to save big while buying a new vehicle.
In these cases, approval for a car loan can be challenging. You may need to find a financing company that loans to people with bad credit or no money down. Buy a Car with Bad Credit and No Money Down It is possible to finance a car loan without having a good credit rating or down payment.
