When it comes to auto loans, there are a lot of different lenders out there. When your credit isn't the best but you need to find a car loan, where do you turn? Bad credit auto loan lenders, also known as subprime lenders, can finance borrowers with less than perfect credit, and we can help you find one near you.
Bad Credit Auto Lenders
Auto loans aren't one size fits all, but when you're dealing with poor credit, shopping for the loan you need becomes even more difficult.
How do you know if a lender works with situations like yours? Where do you start? What if you can't find a bad credit lender?
These are all concerns that many people looking for a bad credit car loan have. Let's take a closer look at these questions:
How Do You Know if a Lender Works with Bad Credit?
There's more than one kind of auto lender that may be able to help people with bad credit, but you're typically looking for a subprime lender.
These lenders check other factors in addition to your credit score to determine your creditworthiness when they're considering you for a loan. Factors such as your income, employment, residence stability, and down payment help them see your ability, stability, and willingness to take on a car loan.
Subprime lenders only work indirectly through special finance dealerships, meaning you get your loan through a dealer, rather than directly from a lender. Sometimes, it can be difficult to distinguish special finance dealerships from the rest of the dealers in your area, and that's where Auto Credit Express can help.
We can take the hassle out of finding a bad credit car loan. We work with a nationwide network of these special finance dealerships that are signed up with bad credit auto loan lenders.
What if You Can't Find a Bad Credit Lender?
If you're unable to find a special finance dealer that meets your needs, or you don't meet the lending requirements for a subprime auto loan, it's OK.
Subprime lenders are often the best choice for bad credit borrowers because they can help get you approved for a loan which helps you build your credit while you make payments. However, they're not the only option for a bad credit car loan.
Another alternative that you may be able to use as a bad credit borrower is a buy here pay here (BHPH) dealership. These in-house financing dealers are also lenders, and they are often able to help people that aren't able to get a loan from a subprime lender.
BHPH dealerships don't typically check your credit. As long as you can provide the required down payment and prove you have the income to afford the monthly payment, you're typically able to get a loan from a BHPH lot.
Where Do You Start Looking for a Bad Credit Auto Loan?
When you need to begin your search for a bad credit auto loan, start here with Auto Credit Express. By simply filling out our free car loan request form, you can begin the process of finding a dealer in your area. Our service is fast and the form is easy to complete. Plus, there's never any obligation to buy.
If you want to get the search for your bad credit auto loan underway now, don't hesitate to start the process. We've been connecting bad credit borrowers to local dealerships for over 20 years, so let us help you today.