Where to Find Lenders for Bad Credit Auto Loans

Get Car Financing
Even with poor credit.

By

Contributing Writer

Amy Fortune is a contributing writer for CarsDirect and lead writer/editor for AutoCreditExpress. She also contributes regularly to several other high-traffic blogs. Amy was born in North Carolina and grew up with an appreciation for NASCAR and everything automotive. Now based in the Motor City, she continues to be happily immersed in car culture and automotive finance.


, Contributing Writer - November 15, 2016

If you have bad credit and need to finance a car purchase, there are lenders out there that can help. These special finance lenders look at factors beyond credit in order to approve buyers with subprime credit scores.

So, if you're wondering how to find lenders for bad credit auto loans, where should you begin? Typically, these lenders cannot be directly contacted by consumers. Instead, they work through certain dealerships that have experience in subprime car sales.

Getting Connected to Lenders for Bad Credit Auto Loans

Not every car dealership is capable of working with bad credit (or subprime) buyers. This is because bad credit auto loans require different types of lending resources and a different type of selling process. With this kind of loan, the buyer doesn't choose a car before sitting down with a finance manager to work out the details.

Instead, the applicant meets with the finance manager at the dealership first. If approved, a maximum amount that can be financed is set, which creates a realistic budget for the car purchase. Then a salesperson shows the customer a selection of vehicles that fit their needs and price range.

Once the buyer has selected their car, the rest of the process is pretty simple. The loan terms are finalized and a down payment may be made. If the buyer has a car to trade in, it will be appraised and the equity in this vehicle will be included in the down payment total. Finally the customer signs the papers and is free to drive away in their new vehicle.

Now that it has been established that the best way to find lenders for bad credit auto loans is through certain dealerships, you'll simply need to find the right dealer. How? Well, you could call or visit all of the dealers in your area until you find one that can work with your situation. But this can be a frustrating and time-consuming process.

Luckily, CarsDirect can help by doing the searching for you. With just one, super-quick application, we can match you with a local dealer with connections to lenders that can approve you for financing. We do this because we believe in making the car buying experience as fast and easy as possible. And we don't think that credit issues should prevent you from getting the vehicle you need.

CarsDirect: Where to Find Lenders for Bad Credit Auto Loans

If you need finance a car purchase with a bad credit auto loan, you don't have to worry about finding the right lender or dealership. If you simply apply with CarsDirect, you'll be connected with the right resources from the start.

See what we can do for you by filling out our 1-Step Auto Loan Application. It will only take a minute of your time, it's free and there are no obligations attached. So, go ahead and get started today.

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, Contributing Writer

Amy Fortune is a contributing writer for CarsDirect and lead writer/editor for AutoCreditExpress. She also contributes regularly to several other high-traffic blogs. Amy was born in North Carolina and grew up with an appreciation for NASCAR and everything automotive. Now based in the Motor City, she continues to be happily immersed in car culture and automotive finance.


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