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We have a large network of car dealers and lenders who specialize in bad credit car financing.  If you have been turned down for a car loan you may not have been talking with a lender that deals with bad credit.

• Bad Credit
• No Credit
• Bankruptcy

Buying a car with a bad credit can be a challenge but if you are prepared you can get a car and might be able to safe a few dollars.  One of the first things is to find a car dealer or a lender who deals with bad credit.  A car dealer who handles bad credit usually has multiple channels available and understands the ins and outs of bad credit car financing.  So what are some of the things you can do to be prepared:

1.    Find a car dealer or a lender who handles bad credit car financing
2.    Know how much you can afford
3.    Know the monthly payments you can handle you may still need to revise that downward or upward but at least have an idea
4.    What type of car do you want?  Is it in the price range you can afford?  If not then find a car that is within your budget
5.    Have a cosigner lined up just in case you need one
6.    20% down payment should be the minimum you have available for a new or used car
7.    If buying a used car check it over thoroughly there is a good check list for used car buying tips
8.    If you can and you have some time try to improve your credit before you apply
9.    Have your license available
10.    Your employers name, phone and how long you have worked there
11.    Monthly income

Information that will help you buying a car with bad credit
Some of the above information is for your benefit.  If you purchase a used car you want to make sure it is in good shape.  It is hard after the facts to complain about problems and you may have paid top dollar for that used car and it may not be in top condition.  Review the checklist and go through it.  If the car dealer does not allow you to go through the checklist then you might be best to pass on the car.  They might be trying to hide a few things.

Another really important thing for you is your credit.  If you have bad credit you probably already know you will be paying higher rates and it is more challenging to find a lender especially these days.  Get the checklist of things you can do to improve your credit.  Even if you have to pay the higher rates this time the next time you want to have at least good great.  You can get a better car, better interest rates and a better buying experience altogether.

Also knowing the payments you can handle or the lengthen of time you want to be paying on a car before you look will keep you from buyers remorse.  You might find that dream car but could end up making paying it difficult to impossible.
 

Technorati Tags: Bad Credit Car Financing, car loan, used car loan

Car loan bad credit history, so you have bad credit and you have a history of it.  You may still get a car loan but you will be paying hire rates, you may be required to put a larger down payment on the car, you might even have to get a cosigner.  It does depend how bad your credit is.  There are levels and there are even levels within sub prime (bad credit).  The longer you have had a history bad credit getting a car loan could be a challenge.

There are a few things you should do to find a car loan bad credit:

1.    Find a dealer or a lender who specializes in car loan bad credit history
2.    Take steps to improve your credit

The first one is easy.  You can apply for a car loan bad credit history right now.  Bad Credit Car Financing deals with car dealers and lenders who specialize in bad credit car loans.

The steps you can take to improve your credit history can be found on this page.  I wanted to take a few minutes to go over how much more you are paying by having bad credit history.

How much is that car loan bad credit history costing you?

A Car loan bad credit history might cost you an car interest rate of say 12%.  If you had excellent credit you might be able to negotiate a car interest rate of say 4%. 

If you take a loan at 3 years at 4% and you borrow $10,000  the interst you will pay $628.28  (the interest is calculated on a compound rate).  It sounds like a lot of money doesn’t it.  Now let’s take a look at the car loan bad credit history rate.

You will probably go out for 5 years at 12% and you borrow $10,000.00 the interest you pay will be $3346.00 YIKES!  That is a difference of $2717.72.  If you have bad credit and you feel like you can not get ahead, you feel like you are being kicked, looks like the rich keep getting richer.  You are absolutely right. Your bad credit history is doing the kicking.

The difference in monthly payments for the two loans are:

4%  the monthly payment is $295.23
12% the monthly payment is $222.44

So what if you took the 4% and went out to 60 months (5 years)  ( you can get better rates if you go with a shorter loan period.  The longer you go out the more your interest rate will be)

4% for 60 months $184.16  The total amount of interest paid on this $1104.96  That is still a difference of $2241.04 more for the same car. 

Now if you were offered a $4000.00 rebate on the same car you would be better to take the 12% interest rate and not take a 4% interest rate with no rebate.  You must take all  into consideration but the above example was to show how much car loan bad credit history is costing you.

Get Your Car Loan Quote Now! 

*  Bad Credit Car Financing– that is what we specialize in and we have a large network of dealers and lenders to help with your bad    credit car financing needs.
*  No Credit – we can help you secure a car loan
*  Bankruptcy – you can still get a car loan
*  Been Turned Down – try us we have one of the highest rates in finding bad credit car financing for people.

Get a car loan today!                             

We have many lenders and car dealers that specialize in bad credit car financing.  Not all lenders or car dealers handle bad credit car financing.  It is important that you find the right lender or car dealer.  It could mean the difference in getting a car loan or not.  Some important things to keep in mind when finding a bad credit car financing are:

Bad Credit Car Financing Information

• Interest rate
  
• Length of payment
  
• Payment amount
  
• Is there early penalties for paying car off
  
• Other fees associated with the loan
  
• Download our check list of things you will need for a loan and buying a car

What Should You Know About Bad Credit Car Financing

• Your FICO score – how bad is your credit
• Improve your credit score if you have a month or two
• Know the amount you can afford
• Know how much payment you can afford
• Get our check list of things you can do to improve your credit score

Buying A New Or Used Car When You Have Bad Credit

• Are you buying a used car – check out top used cars to purchase
• Can you afford a new car – check out top new cars to purchase
• Buying a used car check list

We have hundreds of car dealers and lenders that we work with to secure you a car financing.  These are dealers and lenders who understand bad credit and can help you with ease and dignity in getting you car financing.  We have a lot of information on this site to help you decide to buy a new or used car.  How you can improve your credit and get better terms on your loan.  We have information on refinancing a car loan.  This might be your best option.  There is also a wealth of information of bad credit.  We hope this information is useful to you and helps you in making the right decision in purchasing your next car and helps in securing a bad credit car financing.

Get your car loan today!

“Poor “ credit is in the 300 – 619 range of the current FICO credit score.  Very bad credit car loan is in the lower range of the “poor” credit scoring.  Lenders have “levels” of poor credit and some lenders may only deal with the first level.  Many times these people are there because of illness, lost of job or other catastrophe.  Once this has passed they quickly begin to regain positive credit.

The range that we are talking about here are usually catastrophes followed with not paying bills on time or at all.  Have many late payments for extended periods and many delinquent accounts. 

It will be harder finding a dealer or a lender who handles these very bad credit car loans.  When you do you will be paying very high rates.  The sooner you can take control of your credit and improve it the better.  It is advised to purchase a less expensive car that still meets your needs.  You will save a lot of money in finance charges.

Have A Down Payment

You will more then likely need a down payment. A down payment of at least 20% will more then likely be required.  The more you can put down the further this will go in securing a car loan.  You might be able to negotiate a better rate if you put a larger down payment on the car.

You Will Need A Cosigner For Very Bad Credit Car Loan

You might also need a cosigner.  It might be harder to find a cosigner then finding a lender but the cosigner might be needed if you need a very bad credit car loan.

Very Bad Credit Car Loan Credit Score And Credit Report

Get a copy of your credit score and credit report.  If your credit is very bad then you will most likely be buying a cheaper used car.  Here is a list of used car for bad credit to look at.  You should still try to find a car that meets your needs but some cars are a better buy used then others.  The simple fact is that some cars depreciate more rapidly then others but might be very dependable and reliable.  Cheap, good and dependable is not a bad combination when your options might be limited.
 

So In Summary If You Have Very Bad Credit And Need A Car Loan:

• Have a good down payment
• Have a Cosinger
• Try to improve your credit if you have time
• Buy a used vehicle that meets your needs and improve your credit
• If you have a car you like and your credit does improve look into refinancing you might be able to save a lot or look into upgrading your car or buying a new car.  With a lower interest rate you could save a lot of money and have a new car.

So you have poor credit and you need an auto loan.  Have you gone to a dealer and been told you do not qualify for a car loan?  Not all is lost.  You probably can get a car loan you may just have gone to a car dealer who did not deal with poor credit auto loan and yes not all car dealers do.

So what is poor credit?  Credit is broken down into levels.     

Excellent  760 – 850

Good  700 – 759

Fair  620 – 699

Poor  300 – 619

If you fall in the poor credit you can still qualify for a car loan you just need to find the lenders and car dealers who can help you.  You will also need to know a few things.

Knowing your credit score can help you.  There are fluctuations but you will have a good idea if you are Fair credit or indeed poor credit.  Some car dealers and lenders will only deal with solid good or excellent.  So if you have been turned down don’t think you have low-end poor credit.  If you have your credit score you will have a good idea of where you are.

Getting a poor credit auto loan

Some pointers

•    Know your credit score
•    Have an idea of how much you can afford for payments
•    A Cosigner might be needed
•    A down payment – 20% can go a long way in securing a loan
•    20% down might limit the type of car you can purchase

Poor Credit Auto Loan Interest Rates

The interest rate you pay will be higher.  You might want to go for a car that does not cost as much and try to improve your credit.  You can either refinance later or trade in the car and get a new when your credit is better.  If your credit is just into the “poor” end it might not take much to boost it into the “fair” score.  This could save you money.  Take a look at Very Bad Credit Car Loan at just how much having bad credit costs you. 
Many times people feel like they are “getting it” when they are having difficulties.  Well the honest truth is you are.  You pay far more for everything when your credit is “poor”.  This just makes things that much more difficult.  You have a harder time finding loans and lines of credit and you do have to pay more.

Check out our free download on some quick tips on improving your credit.