However, many banks offer auto loans to people with bad credit.
Larger national banks can also help you secure an auto loan if you have bad credit.
In general, it is better to go with a bank or an auto financing lender rather than the car dealership down the street that is offering a “buy here, pay here” deal.
Can I get approved for a car loan with a 500 credit score?
Get Approved for a Low Money Down Car Loan for Poor Credit. As you can see, having a below 500 credit score and only $500 down doesn’t have to make the auto financing process difficult. In fact, we’ve made the process as fast and easy as possible. Get pre-approved by filling out our online auto loan request form.
Can I get a car loan with a 550 credit score?
You should be able to find financing from more than one source. If your credit score is between 550 and 620, you’re going to have a more difficult time, but there is definitely hope. If you can even find financing, it’s going to be at a very high interest rate.
Can I get car finance if I have bad credit?
In a nutshell: Your credit report and score can give you a good idea of what your chances of getting accepted for car finance are. Some finance options are less risky for your lender, so you have a greater chance of getting accepted even if you have ‘bad’ credit.
Photo in the article by “Moving at the Speed of Creativity”