Auto Loan With Bad Credit

Posted by admin on November 20th, 2009 at 04:55pm

auto loan with bad credit

Question:
Auto Loan with bad credit?
As soon as the 2010 tax season comes around, I want to purchase a used car. However, my credit is somewhat poor. Not terrible, but not great either. I am paying higher than my monthly due on my credit card account every month, and I haven’t missed a single payment in over a year.
I asked a few friends about Auto Loans with bad credit, and they said I most likely will not be approved for a loan without a co-signer. The trouble is my Dad never built any credit. He grew up a poor guy, and he still is, so he hass never gotten a credit card before or bought a home or a new car. So he could not co-sign my for auto loan.
So how can I purchase a used car from a dealership or a private seller, with no auto loan?

Answers:
Try to get an online car loan quote. http://www.americaschoicetoday.com/Auto-Loans.html The computerized form will let you know if you are able to be approved. It’s no charge and you can get an answer within minutes.

My credit wasn’t so good when I applied for my first auto loan with bad credit. I also had a bankruptcy on my record and I was still able to purchase a brand new vehicle. I would suggest visiting a large dealership since they are more likely to work with you, they can be far more easygoing and give you many more options. Smaller dealers, or private dealers are not quite as willing to discuss it usually. It’s completely possible for you to obtain an auto loan with bad credit on your own, but be prepared for a very high interest rate and have a decent down payment ready.

I was in the same situation as you not too far back and I found that online companies were much more helpful. Yes, the rates were higher, but I don’t really have a lot of choices with poor credit. I went with this company: http://tinyurl.com/quickerautoloan
Hope it helps,
Scott

Under Cars and Bad Credit