Bad Credit Auto Loan FAQ

Frequently Asked Questions Regarding Bad Credit Car Loans, Auto Financing, and Auto Loan Approval at CarLoan.Expert

You may still have a few questions after you Apply Online for your bad credit car loan. Read on for more information regarding your car loan.

If after reading our FAQ, you still have a question that has not been answered, please feel free to contact us, and we will gladly respond to your query. 

Car Loan Questions

Auto Financing Questions

Working with for Auto Loan Approval

Bad Credit Auto Loan Answers

Car Loan Questions

Is my information Secure ?
Absolutely, your application is on our secure server.

How much will my car loan be preapproved for?
Your auto loan is based upon a number of factors, such as your current salary, your credit rating, and other factors such as bankruptcy.  Rest assured that CarLoan.Expert has a nationwide network of bad credit auto loan lenders. Check our Auto Loan Calculator for auto loan affordability information.

How much will my down payment be?
The down payment is determined by a number of factors. First is your credit profile which depends upon your credit score. 

Will my car trade in count toward the down payment?
Yes, your car trade in will count toward your down payment. If you have a lien against the car title, then additional funds may be needed.

Will credit checks count against my credit rating?
Too many credit checks in a short period of time are not favorable. It is best to get a preapproved bad credit auto loan before going to a car dealer. The car dealer will run your credit through a number of vendors in order to get approval. This could make auto loan financing impossible if you have weak credit.

Can I use and employee discount like GMS or the A-Plan?
es you can! Make sure your bad credit auto loan lender knows this.

Can I use a consigner ?
Yes our goal is to get your loan approved the way you prefer, so we offer individual and co signed accounts

Do I need a cosigner?
A cosigner helps, though you must meet all of the income requirements on your own.

What will my payments be?
That depends upon your credit score and the price of the vehicle you will purchase. New vehicles and low mileage vehicles qualify for extended payment.

What will my interest rate be?
That depends upon how high your credit score is and how much you are putting toward the down payment. Better credit scores and higher down payments yield lower percentage rates. Though you can off-set the interest with a newer vehicle. Older vehicles require higher bad credit auto loan interest rates.

Will I be charged any fees from your company for my application ?
No ! Our service is free to our customers with no obligation to purchase at all In most cases our a decision will be sent to you within minutes of applying.

Auto Financing Questions

I've never had credit. Can you help me get an approved car loan?
Yes we can! First time buyers are always welcome. We can match you with a car loan lender.

I am undergoing bankruptcy. Can I qualify for an auto loan?
Yes, though the auto loan will take longer to process. You will need an "Authorization to Incur Debt" from your trustee. Talk to your attorney prior to applying for an auto loan.

I've been through bankruptcy. Can I still get a new car loan or used car loan?
CarLoan.Expert can connect you to our bad credit auto loan specialists if the bankruptcy has been discharged, or you have an Authorization to Incur Debt from your bankruptcy trustee.

My car has been recently repossessed. Can I get a preapproved auto loan?
If your car was not a part of the bankruptcy and the account shows a balance, you could qualify for a bad credit auto loan. 

Can I refinance my current auto loan ?
Car loan expert works with very reputable partners across the Nation that can assist in refinancing your current car loan, All you need to do it choose "Refinance" tab at the beginning of the application

Working with CarLoan.Expert for Auto Loan Approval

Can I finance a car through a private owner?
You cannot finance through a private owner with CarLoan.Expert. You can only get a bad credit auto loan through an The CarLoan.Expert approved car loan lender. We ensure the quality of the car and the lender.

My car loan application has been rejected before. Can you still help?
We have a nationwide network of bad credit auto loan specialists. We are dedicated to providing car loans to people with poor credit. Just apply with CarLoan.Expert today and you may qualify for a car loan

Should I shop for car first before applying for a bad credit auto loan?
No, you should not. Car dealerships will run your credit with a number of auto loan vendors. This will generate an excessive amount of credit inquiries which hurts your car loan approval chances. Your chances at auto loan approval are very small if you try to purchase a car that is beyond your income. 

Do I have to meet minimum qualifications for a car loan?
The minimum qualifications are determined by your income and credit profile; though everyone has a chance to prequalify for a bad credit auto loan.

Does my car have to meet specific requirement for an auto loan preapproval?
Most bad credit auto loans are prequalified for a car that is new or up to two years old. Most any car below 50,000 miles within your approved financing qualifies.

Can I get a new or used Car loan with your service ?
Yes car loan expert works with dealers and lenders across the country to provide both new and pre-owned loans.

How long after submitting my loan application will I know if I am approved ?
In most cases our a decision will be sent to you within minutes of applying.

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