When you have bad credit, there are typically no shortcuts or quick fixes to getting the credit score you need to start doing the things you need, like financing a car. Just because you have poor credit doesn't mean you're out of luck. You can qualify for a bad credit auto loan if you know where to look!
Start Your Bad Credit Auto Loan Here
Firstly, Auto Credit Express isn’t a lender. This doesn't mean we don't have anything to offer you, though! We've been a leader in the subprime car market for over 20 years, and have the track record to prove we know how to get you connected to subprime lending options.
Not all lenders can work with people who have less than perfect credit, so we take the hassle of searching for one that can get you financed. When you team up with us, you're improving your odds of finding a lender – without having to apply for loan after loan only to be turned down by traditional lenders.
There are other auto financing options besides traditional car loans, and we can point the way.
How Can We Help?
When you fill out our auto loan request form, your information is sent to a dealership in your area, with the lending resources available to finance people who are in unique credit situations such as bad credit, no credit, or even a past bankruptcy or repossession.
Our system matches you to a dealer in your area from our coast-to-coast network of special finance dealerships. These dealers are signed up with subprime lenders that know that you're more than a credit score, and consider other factors alongside your credit.
By being matched to the right type of lender the first time around, you save time and money you may have wasted driving all over town looking for a dealership with special financing options. This could also prevent multiple hard credit pulls being spread out over weeks while you search, which can bring your credit score down even further.
What's the Catch?
There's no catch, but bad credit car loans aren't for the faint of heart. When you decide to take on an auto loan with poor credit, you need to be prepared to meet a few requirements, expect a higher than average interest rate, and come ready with a down payment.
After you're matched to a dealer, you can expect a phone call from a representative that can let you know exactly what to expect. These representatives may also verify the information you used on your request form, and prepare you for a visit with the dealership.
With a bad credit score, you're likely to need a few things to prove to the lender that you're ready for vehicle financing. They typically look for people who show the stability, ability, and willingness to successfully complete the loan. Think of these requirements not as extra steps between you and the car loan you need, but a bridge to the credit repair you're seeking!
Be Prepared for Your Dealer Visit
Getting an auto loan deal done can take a bit of time, especially if you're not prepared the first time you visit the dealer. No one wants to have to come back with more paperwork just to wait even longer for an approval. This is one reason it pays to be prepared.
Though each dealership and lender is unique and has their own set of requirements for lending, most subprime lenders have these typical requirements:
- Proof of income
- Proof of residence
- Proof of a working telephone
- Valid driver's license
- Down payment
- List of personal references
Meeting these stipulations is a big step in getting approved for a bad credit car loan, but they're not the only factors a lender takes into account. They also check to see that you have enough income to afford your existing bills, a vehicle payment, and full coverage auto insurance. They do this by checking your debt to income and payment to income ratios. Learn more about these ratios and budgeting for your next car loan here.
Get Approved for a Bad Credit Car Loan
If you're approved, the subprime lender lets the dealership know what your maximum monthly payment can be. You then search for and pick a vehicle from the dealer's inventory that you qualify for!
If a bad credit car loan sounds like just the thing for you, let Auto Credit Express help! Start by filling out our fast, free, and no-obligation auto loan request form. We'll work to match you to a local dealership that has the proper lending resources. Don't hesitate, get started right now!