For consumers that have experienced some patches of poor credit knowing where to apply for a car loan can typically be the hardest part of the process to understand
What we have experienced
In our experience consumers with questionable credit in many cases wonder why it’s so hard finding a lender that’s willing to consider them for a car loan.
Here at Auto Credit Express we understand the frustration they may be feeling because since 1992 we’ve been helping consumers in these very situations. We even created a website so car shoppers with poor credit can study such issues as repossession while answering questions such as “how hard is it to get a used car loan?”
It begins with your credit scores
For car shoppers with fair to excellent credit – which usually means FICO scores of at least 640 or more – comparing the interest rates online with banks, credit unions and even captive finance companies like Ford Motor Credit is usually the best way to find the lender with the lowest rate.
But for consumers whose credit scores fall below 640 or those with a limited credit history and no co-signer with good credit, the issue of finding a lender that is able to offer an auto loan approval can sometimes prove to be more difficult.
High risk auto lenders
Right now there are at least 30 national or regional lenders that cater to car loan applicants with bruised credit and their lending requirements can vary widely.
The biggest problem for car buyers with higher-risk credit, however, is that nearly all these lenders are only operate indirectly. To receive a credit decision from one of them, these car buyers must submit an application through one of the franchised new car dealers they are affiliated with (most of these lenders won’t do business with smaller independent used car lots).
Finding one of these dealers
Car buyers can begin their search by calling around to the various new car dealers in their area, but in most cases they’ll be instructed to stop by and fill out an application in person. When this happens, they may get lucky (remember, this is often a shot in the dark) and receive an approval. If, instead, their loan application is turned down, the situation can end up being an embarrassment as well as a total waste of the buyer’s time.
But it doesn’t have to end at this point because there is another option.
Every year thousands of applicants in this same situation find that the easiest and least stressful way to locate one of these dealers is to go online and submit a loan application through web sites that specifically cater to consumers with less than perfect credit.
In addition to a secure application, the best of these sites also have resource sections that include informative videos as well as auto loan calculators that can walk you through both the screening as well as the application process.
Give us a shot at your business
With that in mind we want you to know that Auto Credit Express specializes in helping applicants with bad credit find those dealers that can give them their best opportunities for approved auto loans.
So if you’re ready to reestablish your car credit, you can begin now by filling out our online auto loans application.
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