This short read will explain to you the simplest way of how to get approved for a car loan with bad credit. Most people think it's very hard, although there are sources that make it very easy for you.
1) Although not the most popular option, you can get a car loan at a buy here pay here car dealer. Typically, you''ll be expected to put down a down payment in an amount of atleast 10% of the amount financed or the purchase price. If you have cash down and there is a dealer in your area that you trust, this may be an option for you. There is generally no credit check involved. This is the most expensive route to go as you generally will pay a premium price for a car and the finance charges are usually very high, exceeding a 20% interest rate.
2) You can easily get approved for a car loan with bad credit by using an online loan service. Services of this type review your basic information, such as credit score, bankruptcy or other issues as well as income. They then match your credit with a lender that will approve you. It's common that you'll receive information from multiple companies interested in giving you an auto loan. This can be a real relief if you suffer from bad credit and sure beats going from dealership to dealership to try to get approved.
Those are the two easiest ways to get approved for a car loan, if you have bad credit.
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