Consumer Car Buying Advice Blog

One of the stipulations required for a bad credit car loan is a list of references. But many people don’t know what this means…

What are references?

Here at Auto Credit Express, one of the questions that we get about the bad credit auto loan process concerns the need for references.

A reference is, in simple terms, someone who knows you. It can be a friend, relative or even a co-worker.

How many references do I need?

Six references should be enough. Most banks only require four, but some require more, so it’s a good idea to have at least six.

How much information do I need on them?

A name, address and phone number (home or work) is all you need. If you have this list with you when you go to the dealer on your first visit it will save a lot of time for you and the finance manager. Ask your references permission to use their name, along with their information, and let them know that they might be contacted by the bank to verify that they do know you.

The Bottom Line

Have a list of 6 references with you, along with the other stipulations, when you apply for a bad credit auto loan. By doing this, it will make the application process move along more smoothly and quickly. If you have any additional questions, go to our web site at www.autocreditexpress.com. Here you will find auto calculators that will help you budget determine a budget as well as estimate a payment. At Auto Credit Express, we want to get you “on the road” to better credit!

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