Can someone suggest any companies which yield car loans for bad credit which they’ve had a great knowledge with? Ive looked online for one but there have been so most and I have no thought im seeking fo. I asked locally about bad credit car loans and was told to demeanour on the internet so here I am, lol. I’ve eventually gotten my hold up together after college and right away I only need a car to get behind and onward to work. Ideally I’d similar to to get a workable car for my every day invert and be means to compensate the loan off early to give a progress to my credit. So yeah, can any one suggest somewhere I can get a bad credit car loan which has a substantial seductiveness rate?


SPIFIMAN1 October 11, 2013 at 11:29 pm

Auto finance is what I do for a living there are 10 things that go into making up a car deal weather it’s a purchase or a lease and all can effect the interest rate.

1. Term of loan. Shorter the better.
2. Age of vehicle. Newer the better.
3. Miles on vehicle. Lower the better.
4. Amount to finance compared to book value. Lower the better.
5. Credit score. Higher the better.
6. Credit profile. Deeper the better.
7. Down payment. More the better.
8. Monthly income. Higher the better.
9. Time on job. Longer the better.
10. Time at residence. Longer the better.

As long as all of the above are in line with the lender guide lines and you make enough income to budget for the payment you should be approved. As you can see from the above list there are way to many things that go into making up a car deal to guess at your interest rate.

You might try Americredit, Capital One, Wells Fargo and Santander. They all offer loans to people with limited or damaged credit.

Good luck.

Durango October 12, 2013 at 12:20 am

If you have bad credit the first thing you have to consider is your outrageous interest rate that you will recieve once you take out a loan. Unfortunately, the high interest rate is something you just will not be able to avoid. You see, credit is basically a fancy word for trust. If your credit is not in good standing, creditors will assume you are a risk and therefore you will have more unfavorable terms compared to having good credit.

You could go to a buy here pay here car lot and try to get financed. The general rule is to try and not go above 18% interest. I’m 21 and I bought my first car, with decent credit, and I have a 31% interest rate. There is no telling what you would end up with.

Good luck.

Stan October 12, 2013 at 12:41 am

If you are or was in default the past 24 months, no bank or finance co would approve you. If you go to a Buy Here/Pay Here dealership, there will be no warranty once it leaves the lot. Try to get help from your parents.

Mary J. Small October 12, 2013 at 1:16 am

My credit score could be better but we all make mistakes.. that’s how we learn, right? I researched a lot of bad credit car loans providers when i was buying my second car, but then my sister’s friend told me about http://24hrLoans.net and that I could get a bad credit car loan with them that would be recognized by other lenders as a way of rebuilding my entire credit score. Initially the loan rate they will give you reflects how bad your credit score is but as you repay the loan youll gain trust and they will be less strict about your interest rate. It really won’t take you more than a year to fix most credit issues.

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