Bad Credit Car Loans, No Down Payment?

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A down payment can be one of the biggest hurdles to overcome when you're shopping around for a used car with bad credit. There are lenders and dealers out there that offer "no money down car loans". It would be nice to think that "no money down" or "zero down" advertisements apply to everyone. Though, they have a nice ring to it and are not impossible to get - the benefits you gain from having a down payment usually outweigh anything you would gain by not having one. In fact, you probably won't qualify for a no money down auto loan if you have bad credit as most subprime lenders require a down payment. Don't let that keep you down, there are still options out there for you.

You can still get approved for a car loan even with less than perfect credit. We have a network of dealers that are specialized to handle special finance situations just like yours, request auto financing today.

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What is a No Money Down Car Loan?

A no money down, also known as a zero down auto loans or no cash down auto financing, car loan is when a car buying customer secures a car loan without having an initial down payment. These are typically offered to car buyers with a higher credit score, above 700.

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No Money Down Car Loans with Bad Credit

When you have bad credit, phrases like “no money down” can be enticing, perhaps making you think it's a way to save. The truth, however, is that not putting down money can end up costing you more in the long run. In fact, subprime lenders, which you have to get financed through if you're struggling with credit issues, almost always require a down payment. Research shows that buyers who make a down payment are more likely to make regular, on-time payments and are less likely to default on their loans, so it's obvious why lenders ask for one – especially with bad credit in the picture.

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as of 04/23/2024

Bad Credit No Money Down Car Dealerships Near You

Car dealerships frequently run special deals and promotions such as zero down car loans. You can keep an eye or ear out for advertisements of no money down offers, as well as research car dealerships near you for their current deals. However, you should be aware that no money down car loans are typically unavailable to you if you have bad credit.

No Money Down Car Loan Tips

If you're confident that you want a zero down car loan, you should do some prep work before heading to a dealership. Not being prepared can set you back in the car buying process, and it's best to know where you stand and what your car loan might look like beforehand. To make your car buying experience as easy as possible, follow these four tips:

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