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How do you get an auto loan with a bad credit score?

Answer

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Wiki User
03/03/2014

Bad credit doesn’t automatically mean you won’t be able to buy a car. Some lenders might see you as a good prospect, while others might see more risk in granting you a loan. Develop a financial checklist when buying your next car. Be confident you have enough in your budget to get a car that you can truly afford. Even with a bad credit score, it’s important to shop around to make sure you get a good deal.

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Wiki User
08/06/2012

Apply Everywhere

Apply. Apply. Apply. Eventually you should get accepted somewhere. However, a low credit score means that your APR can be quite high and you may be asked to put more down than what the average' consumer might put down for the same size loan with a better score. When you hear those commercials advertising "bad Credit, No Credit, no problem" ; they aren'y lying to you they are being serious because they want to make sales but they want people with bad credit so they can make a ton of money in interest fees. Also remember your monthly gross pay will also have a factor in your down and monthly payments.

Its very difficult to get car loans with bad credit but there are lot's of sites available who gives the guarantee to get approved for car loan with bad credit just apply there.