With bad credit there are still ways you can increase your chances of qualifying for poor credit car loans
Why we know
Getting back on your feet can be hard even with good credit, but if you have poor credit and need terrible credit auto loans it can be even more difficult.
We know, because it's been nearly two decades since we started in bad credit auto sales here at Auto Credit Express.
During that time we've helped buyers see that a tote the note dealer won't get them higher FICO scores and we also explain the loan process to help them avoid repossession.
But the fact is that many buyers may not be able to find the right kind of dealer on their own.
Finding the right dealer with the best interest rate
One of the biggest obstacles to getting an approval with bad credit is locating a dealer that can finance you for a bad credit car. While thousands of dealers advertise this service, most of them are buy here pay here and tote the note dealers.
These dealers can put you in a car, but they won't report your loan or payments to the credit bureaus. This means that you'll have transportation, but your FICO scores won't get better and you'll find yourself with the same bad credit the next time you need a car loan.
Another reason you should think twice about these types of horrible credit auto loans is that most buy here pay here car lots are not affiliated with a new car franchise. This means that their inventories usually consist of older, high-mileage cars that are often unreliable.
On the other hand, many new car dealers don't want to get involved with poor credit car loans. Unlike traditional new car financing, dealing with these lenders requires special training for dealership employees. Dealers also need to stock the right age and mileage vehicles.
As a result, many new car dealers don't have the time or the patience to maintain a special finance department and stock the right kind of inventory for bad credit customers.
How websites like Auto Credit Express can help you
The internet has changed the way customers with good and bad credit buy cars. Web sites such as ours match the requirements of bad credit customers with dealers that specialize in bad credit auto loans. These dealers use a broad range of lenders that report your payments to the credit bureaus and offer advantages over tote the note dealers that include:
1. The ability to choose a vehicle from a much larger inventory.
2. Lender rules that require vehicles to be either new cars or newer used cars with lower miles.
3. A majority of vehicles that are eligible for service contracts that often cover the entire loan term, helping you avoid potentially high repair bills.
4. Loan and payment information reported to the credit bureaus so you can raise your credit scores and establish your car credit.
So apply now
Auto Credit Express has helped thousands of people with bad credit buy cars and establish auto credit.
You can begin that process now by filling out our secure online auto loans application.