Picking a Lender for a Bad Credit Auto Loan

Finding a lender that offers no credit auto loans can be especially difficult

Why we know bad credit lenders

People looking for approved auto loans that have poor credit usually have a hard time finding a lender on their own.

We’re familiar with this situation because for nineteen years we’ve been involved with bad credit car sales and have helped credit-challenged buyers establish their car credit here at Auto Credit Express.

During that time, we’ve helped hundreds of buyers get approved for a bad credit auto loan and avoid a tote the note dealer (outside our area buyers can submit an online car loans bad credit application at our web site) while showing them the best way to manage a loan (buyers who don’t can end up in repossession).

But if you need to establish your auto credit, how do you find a lender that offers horrible credit auto loans?

The difference between good and bad credit

If you have good credit and a FICO score in the neighborhood of 640 or more, you can usually shop around to banks and credit unions to get the best interest rate.

If your credit score falls below a 640 FICO or if you have a limited credit history and no co-signer, both finding a lender and getting approved is usually more difficult.

There are over 30 lenders that typically offer a problem credit auto loan and their lending requirements can vary widely. The biggest issue for poor credit buyers, however, is that nearly all of these lenders only operate indirectly. In order to qualify for one of their programs, you’ll have to submit an application at a car dealer that has signed up with them.

Finding the right dealer

You can call around, but chances are most dealers will tell you to come in and fill out an application. You could get lucky and get approved, but if you don’t it can be embarrassing, not to mention a total waste of time.

But there is another option. One of the easiest ways to find one of these dealers is to go to a bad credit car loan web site such as ours at www.autocreditexpress.com where you’ll find a resource section that includes informative videos as well as a number of auto loan calculators that will walk you through the screening and application process.

You can start now

Auto Credit Express has helped thousands of people with bad credit buy cars and establish their car credit through a network of affiliate dealers that specialize in bad auto credit.

So if you’re serious about getting your credit back on track, you can begin by filling out our online car loans bad credit application now.

Posted on July 15, 2011 by in Auto Loans, Bad Credit, Lender Companies
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