About Bad Credit Auto Loans

What is a bad credit auto loan?

Bad credit auto loans are specifically designed for people who have been turned down by financial institutions because of their less than perfect credit due to recent bankruptcy, tax liens, low income, vehicle repossession or failure to come up with the required down payment. Although banks offer auto loans, they aren’t keen on lending money to those with low credit scores. Often, one must have a credit score of 640-720 in order to receive bank financing. As for car dealers, they usually finance bad credit auto loans initially, but they are later assigned or sold to the car company.

A bad credit history is generally perceived as a hindrance in obtaining auto financing. So for credit challenged individuals, vehicle financing appears as a daunting proposition. But the truth is that securing an auto loan with bad credit is just as simple as receiving a loan with good credit. If you are sick and tired of denied applications, there are several companies offering guaranteed approval for bad credit auto loans. CarLoan.Expert specializes in bad credit auto loans, and over 90% of our applicants are qualified for a loan. We connect you with a nationwide network of lenders; they can qualify your loan from a dealer without any hassles and at the most reasonable rates regardless of your past credit history.

Do you qualify for a bad credit auto loan with CarLoan.Expert? 

If you meet these basic qualifications, click here to APPLY NOW to secure your auto loan.

  • You have a monthly income of at least $1,500 per month
  • You currently reside in the United States
  • You are a citizen of the United States
  • You are able to get car insurance
  • You have full time employment or a guaranteed fixed income
  • You have a phone number and can supply a proof of residence, such as a utility or credit card statement

Why should you apply for a bad credit auto loan?

Bad credit auto loans are good for a number of reasons. They enable those with poor credit status to get a new or used vehicle while helping them to re-establish their credit. Such loans also afford another opportunity to people who already have a vehicle but are struggling with high monthly payments through bad credit refinancing. Another great thing is that bad credit auto loans are readily available online. Getting the auto loan approved online only takes a couple of minutes then you can look forward to driving your dream car.

What types of bad credit loans are available?

Lenders offering bad credit auto loans come in two types: sub prime and hard money lenders. While both deal with high risk applicants, sub prime lenders are widely regarded as more trustworthy. Nonetheless, you should meet the basic requirements before your loan can be approved. You should be of legal age with a verifiable employment and source of income. For a hard money loan, the requirements are more lenient. Because of the less stringent guidelines, hard money lenders tend to charge high interest rates – as much as five points above the average rate given to applicants with good credit. In contrast, majority of sub prime lenders don’t charge ridiculously high rates just to boost their revenue.

Our bad credit auto loan experts at CarLoan.Expert will assess your profile and ensure that you get the best possible deal. They can assist you in getting a pre-approval plan, so you have enough time to select the car that suits your specific needs and budget. They will also provide sound advice and guide you in deciding the ideal rates on the vehicles. The wide range of services that CarLoan.Expert offers will guarantee that you get qualified for a bad credit auto loan with the lowest down payment and interest rate available.

Why wait? Apply Online Today!

Bad credit should not stop you from owning a car. CarLoan.Expert connects you with auto lenders specializing in working with people who are finding it difficult to qualify for auto loans because of bad credit. They have what it takes to help bad credit holders to purchase their desired vehicles through their wide finance network across the country. Apply today to start the process of owning your next car.

 

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