If you have bad credit chances are that when it comes time to buy a new car you will start first start by visiting used car dealers, either online or at the lot. I’m not sure why this is the tendency. The fact is that if you have bad credit you are more likely to get approved at a new car dealer that specializes in bad credit financing, than you are at a used car dealer.

The main reason for this is that most of the national sub prime auto lenders only partner with new car dealers or very large independent used car dealers. So if you visit a franchised car dealer more often than not you will have more lenders competing for your auto loan, and as the saying goes, when lenders compete you win. (Read More…)