There is a difference between choosing a bank for a regular car loan and a bank for a bad credit car loan so here is what you need to know

Banks and bad credit

Banks that offer bad credit auto loans are much more difficult to find than regular lenders. We know this because at Auto Credit Express we've been dealing with these lenders and working with car buyers with poor credit for the last two decades.

Using this experience and after seeing the embarrassment and problems that customers with bad credit often face, we developed a web site that features a bad credit auto loan application. We then match up applicants with local dealers that specialize in customer credit issues – dealers that look for ways to get their customers approved, instead telling them they can't help.

For most bad credit buyers, the alternative means buying a vehicle from a tote the note, we finance anyone car dealer. This can be a problem because in most cases these dealers don't report car payments to the credit bureaus, which means that you're not reestablishing your car credit. In addition, a high percentage of these loans result in repossession.

So how do you find a lender that offers car loans with bad credit? Let's take a look.

Good credit lenders

If you have good credit – that is, if your FICO score is over 640 or so, you can shop around at a wide variety of banks and other lenders to get the best possible interest rate.

Bad credit lenders

If your credit score is below 640, or if you have limited credit and no co-signer, finding a lender to approve you is more difficult. There are over 30 lenders that do subprime car loans and their lending requirements are all different. The issue for bad credit auto loan buyers, however, is that nearly all of them do not do direct lending. In order to qualify for one of their programs, you have to go to a car dealer that has signed up with them.

Finding a dealer

You can call around to the dealers in your area, but chances are they'll just tell you to come in and fill out an application. You might get lucky and get approved. If you don't, it could be embarrassing and prove to be a waste of your time.

But you have another option: We've found that one of the easiest ways to find one of these dealers is to go to our web site at In addition to an auto loan application, our web site also features a resource section that includes informative videos as well as a number of different auto loan calculators.

The Bottom Line

At Auto Credit Express, we specialize in placing customers with bad credit with dealers that can help them. Our affiliate dealers are knowledgeable and work with a broad spectrum of lenders to ensure you have your best chance at getting approved for a car loan.

So if you are serious about getting your credit back on track, you can begin a new chapter in your life by filling out our bad credit car loan application now.