Bad Credit Auto Loan - Getting Out of DebtSpecial finance banks have helped thousands of borrowers with a poor credit history get approved for great loans. We can help you with the car financing you need on your next car loan. We will help you compare rates for several car loan programs that offer automotive financing for bad credit. Our car loans offer solutions for people that cannot normally get car financing from your hometown bank or credit union.
Unfortunately, things come up in life that cause good people to make credit mistakes that can result in poor credit scores. We have bad credit auto loans programs that are designed to get people with bad credit back on their feet. Credit repair programs can help, but often times they can take years to remove bad credit from your credit report. Many people can't wait years to have their bad credit removed so that they can get guaranteed auto loans, so we offer a great opportunity to rebuild your credit and save some money by putting something on your credit report that you can afford.
A low down payment, a longer-term loan, and a vehicle that rapidly depreciates in value in the first two years can cause you to owe more for the car than it is worth. Our finance managers recommend making a down payment of 20% of the asking price or more, and financing for no longer than five years to avoid being upside down.
- Don't finance car or truck loans for more months than you think you want to own it.
- Make the biggest down payment that you can.
- Choose a shorter-term loan if possible.
- Buy a vehicle that will hold its value longer.
If you need to get rid of it, try selling it yourself or consider bundling the negative equity from the car with a loan on a new car. If possible, accelerate your auto loan payments to avoid being upside down in your new car loan.