Bad Credit Frequently Asked Questions

If you do not find your question listed below contact us. We happily respond to every inquiry.

How much can I get pre approved for?

Auto Credit Express is not a lender; we do not approve or decline loans, our service connects you with lenders that cater to people with special financing needs such as bad or not credit. You may, however, get a general idea of the amount you may be able to borrow by first determining your Credit Profile and then using our auto loan estimator.

Click Here to Get Started with the Auto Loan Process
When I qualify, how much down payment money will I need?

The down payment money amount that you will need is based on a number of factors. You may, however, get a general idea of the amount by first determining your credit profile and then using our auto loan estimator.

Click Here to Use the Auto Loan Estimator
Will my trade qualify for money down?

In most cases positive trade equity is similar to using cash for a down payment. Cash money, however, may be required if there is a lien on the automobile that you are trading and the balance is greater than the appraised value of your trade in.

Will inquiries affect my credit rating?

If you're shopping around for an auto loan or more credit, you should know that when creditors check your credit, it places an inquiry on your credit report for 2 years. According to Experian™ multiple inquiries from similar lenders over a short period of time should

Can I use an auto manufacturer's employee discount (A-Plan, GMS)?

Applying a manufacturer's employee discount is not related to the loan, it lowers the price you will pay for a new vehicle. Since you are paying a lower price for the new car many lenders will find this more attractive which may improve the terms they offer.

Will Cosigners help me get pre-approved?

Auto Credit Express is not a lender; we do not pre-approve loans. From our experience a cosigner may be considered for a buyer who does not comply with all the credit requirements of the considering lender. In most cases, however, the income of the buyer, must meet all the income and budget guidelines without reliance upon the income of the cosigner.

What are the monthly payments?

Monthly payments are based on your credit profile and the vehicle you are purchasing.  Newer, lower mileage cars qualify for extended terms. The best payments are on less expensive cars that have under 50,000 miles. If you have an idea of the amount you want to finance and the interest rate you will qualify for use our Auto Loan Payment Calculator to estimate your payments.

What are the interest rates?

Auto Credit Express is not a lender; we do establish your interest rate. Most auto loan lenders base rates on your credit profile, loan to value or equity position of the loan, and model year of the vehicle. The higher your credit rating and down payment the lower your rates will likely be. Also, the model year of the vehicle plays an important role. Older the cars typically have higher rates.

What if I've have a repossession less than a year ago?

If the repossession was not included in a bankruptcy and there is still a balance on the account, you likely can still finance a car. In this scenario greater money down is usually a condition of approval from the lender.

I've had a bankruptcy. Can I still get approved?

Most lenders will accept a previous bankruptcy as long as it is discharged. For Chapter 7 bankrupcies there are lenders that will offer financing before the discharge but after the initial meeting of the creditors.

What if I'm currently in a Chapter 13 Bankruptcy?

It may take longer to process your loan request. You have to obtain an "Authorization to Incur Debt" from the trustee of your bankruptcy. This normally takes two to three weeks. Consult your bankruptcy attorney.

I've never had credit before. Can I get approved for an auto loan?

Most of the dealers within our network have First Time Buyer Programs for people with a steady stream of verifiable income..

Can I use Auto Credit Express to finance a vehicle through a private owner?

No. We do not have direct lenders in our network, all loan requests are processed through a local car dealership.

I've been turned down before. How can Auto Credit Express help?

In most markets, Auto Credit Express has dealers that cover nearly every credit or special financing scenario. We you complete the loan request form we will attempt to match you with a dealer in your area that specializes in helping people with credit issues get approved.

Should I find a car first before applying for an auto loan?

Auto Credit Express is not a lender, our service matches you with a dealer in your area that specializes in bad credit auto loans. We recommend that you speak with finance manager at the dealer before selecting a car.

What are the minimum qualifications?

The minimum qualifications vary by dealership within our network. It's rare, but sometimes we are unable to match a consumer to a dealership in there are.