The Best Way to Get a Car Loan with Bad Credit

toy car on top of pennies describing how to get a car loan with bad credit

How To Guarantee A Bad Credit Auto Loan

If you have bad credit, getting approved for a car loan is difficult.

The good news is that it’s very possible! There are a few things you can do to increase your chances to get a car loan with bad credit.

Check your credit report

Before applying for a car loan, you should check your credit report to see what your credit score is and if there are any errors or discrepancies.

Disputing any errors you find can improve your credit score. This can make it easier to get approved for a car loan.

Improve your credit score

Improving your credit score can take time, but it can make a big difference in your ability to get approved for a car loan.

You can improve your credit score by paying off outstanding debts, making payments on time, and reducing your credit utilization ratio.

Consider a co-signer

Having a co-signer with good credit can increase your chances of being approved for a car loan.

Keep in mind that this is risky for both parties. If you don’t make payments on time, it can damage both your credit and your co-signer’s credit.

Shop around for auto lenders

Not all lenders have the same requirements for bad credit car loans.

Shop around to find a lender who is willing to work with your credit score. Some lenders specialize in bad credit car loans, so be sure to look into those options as well.

Offer a larger down payment

Offering a larger down payment can show the lender that you are serious about making payments on time. This can also help reduce the amount you need to borrow.

A larger down payment can also help lower your interest rate and monthly payments.

Consider a secured car loan

While an auto loan is typically considered a secured loan, there is something else you can do to help.

If you own a valuable asset, such as a home or a savings account, you may be able to secure a car loan with it.

Secured loans can be easier to get approved for and may have lower interest rates than unsecured loans.

Now Go Get A Car Loan With Bad Credit!

Getting a car loan with bad credit will be a challenge. Lucky for you, there are dealerships like ours that make it possible.

By following these tips, you can increase your chances of getting approved for a car loan and get back on the road.

As a last note, always remember these suggestions.

Make your payments on time and within the agreed-upon terms to avoid further damage to your credit score.

Additional Resources To Help On Your Journey

We love to share the wealth! Here are some resources and trusted vendors that we personally use. They can help you take care of your vehicle as well as keep your credit and finances in tip-top shape:

Car Parts

High Quality and Affordable Car Parts: Advance Auto Parts

High Quality Dash Cams and Car Accessories: Rexing USA or VanTrue or Nextbase

Car Audio & Sound Systems: Econon 

Easy Key Replacement & Programming DIY: Car Keys Express

High-Quality Orignal and Custom Car Lighting: LASFIT

Quality Car Parts/Accessories (mats, covers, assemblies): Oedro

Premium Car Detailing Supplies: Chemical Guys

High-Performance Car Parts & Air Filters: KN Filters 

High-Performance Parts: Max Speeding Rods

Speed and Performance Parts: Spectre Performance

Air Intakes: Airaid

Original & Aftermarket Wheels: OE Wheels LLC

High-Quality Tires Of All Types: Priority Tire or Discount Tire

DIY Car Extras

In the event your dealer doesn’t provide you a history report: VinAudit

To learn to recondition your old car battery: EZ Battery Reconditioning

For DIY Ford vehicle repair: Ford Shop

To learn to take some knicks out of your car’s paint: High Quality Car Spray

If you find yourself in need of a car rental: Discover Cars

If you’d like to see what public car auctions are like: Gov Auctions or Gov Seized Auction

Personal Finance & Credit

To help you improve your credit: Axion Credit Repair or Coast Tradelines

For a DIY credit repair course: DIY Credit Repair

To help you get free of debt and increase your credit: What Lies In Your Debt?

If you’re in a bind and need cash quickly: Bad Credit Loans or Cash Advance

For personal loans of higher quantities: Fortuna Credit or Personal Loans

For a high cash-back credit card (make sure you only use it as if it’s a debit card!): Laurelroad 

We will keep sharing all of our vendors that we have a great experience with. Only the ones we see align with our values as time goes on, both locally and nationwide.