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ANSWER The APR would NOT go down because the co-signer is just a safety net just in case you default on the payment. You might have to obtain credit repair services.

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17y ago

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Can you get an auto loan if you have bad credit?

You can get an auto loan with bad credit, but the terms may not be what you want. In many cases, you will pay a significantly higher interest rate each month.


Is it possibleto get an auto loan with a 547 credit score?

It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.


Find Auto Loans with Bad Credit?

If a person is seeking to take out an auto loan and does not have good credit, then he or she should not lose hope. There are ways to get bad credit auto loans without worrying that a person will be unable to qualify. No credit check auto loans do not require a person to have a credit check, which is very beneficial to people that do not have good credit scores or credit ratings. This can truly present great opportunities for people who need to take out loans but do not have the financial sort of backing to qualify for ordinary loans. Bad credit auto loans allow a person to focus his or her financial resources on other areas of a person's financial life. A person may need to pay off other credit cards with required payments due, and a bad credit auto loan can allow a person to use other funds for such a payment. It is truly a great idea for a person to pay off credit cards, before trying to pay off a car payment that could be paid with a car loan.


What are the current average rates for auto loans?

Auto loan rates are very indicative of the individual person taking one out. Things considered in figuring out the rate would be the person's credit history and current income.


What companies will offer an auto loan to a person with bad credit?

A person with bad credit may be hard pressed to find a loan through a typical bank or auto financing company. A few companies that cater to those with bad credit are Premier Auto Loans and Cars Direct.


Are interest rates on auto loans much higher if you have bad credit?

Interest rates on auto loans are much higher with bad credit compared to an auto loan with good credit. Many times a person with bad credit will receive an interest rate of 18% and up.


Auto Loans With No Credit?

There are many people who have suffered lower credit scores during the current economic upheaval, so it is possible to secure auto loans with no credit. Lenders understand that a person has to have a chance to establish credit. Most people that do not have credit are young people entering into the buyer's market. Other people that may need to get auto loans with no credit are spouses that have not established credit during a marriage. Lenders will look at a few factors to determine whether a person qualifies for the loan. First, the person needs to have adequate income to cover the expenses. Next, the person does not need to have debt that exceeds their income.


Reasons to Take Out No Credit Auto Loans?

No credit auto loans are some of the best types of loans a person can take out, if he or she has a poor credit background. A no credit auto loan is incredibly easy to qualify for and may be something that greatly helps a person out. Many people are in a tough financial situation in this tough economy, which means that sometimes taking out extra loans is a good idea. This can help people to cover other necessary expenses. Taking out no credit auto loans is one of the best ways a person can save money in the long run.


Where can one go to get a bad credit refinance auto loan?

A person can try Road Loans the website to get a loan to refinance their car while they have bad credit. One can also try BankRate, Harbor Credit, eLoan, or use Auto Credit Finders.


Why would someone be interested in no credit check auto loans?

Someone might be interested in no credit check auto loans if they have bad or poor credit. Most major loan companies conduct credit checks and will screen out those with bad credit.


Where can I get an auto loan if I have bad credit?

It is hard to dfind a decent auto loan when you have poor credit. I would suggest visiting Drive Time if you have one local too you.


If I have an auto loan can I get a second auto loan for another car?

Depends on your credit history That would be up to the lender.