Where can I find creditors that help people with bad credit auto loans

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Even though your credit may not be great, there are still creditors that help people with bad credit auto loans. However, a larger down payment may apply along with higher interest rates.

E-loan.com is one effective alternative for people with limited financing options due to less than perfect credit or no credit at all to buy a automobile. They have relationships with many different funding sources, so you can receive up to 4 different quotes. This will help you get the lowest interest rate and terms possible.


Some companies that help people get financed with bad credit auto loans include Credit.com, 1-800-AutoYes and Ecarlenders.com. You can also check your local dealership to find out if they have bad credit auto loans program, but we do not recommend this when trying to get the best deal on a automobile. Dealerships have a tendency of pushing the higher end of the retail value on you when they know your in a bind because of bad credit. However, you can apply on-line with any of the above websites so you can be pre approved before going to the dealership.

You may be required by the creditor to have a co-signer sign the finance contract with you in order to make up for any deficiencies in your credit history. A co-signer assumes equal responsibility for the contract, and the account history will be reflected on the co-signer’s credit history as well. For this reason, you should exercise caution if asked to co-sign for someone else. Since many co-signers are eventually asked to repay the obligation, be sure you can afford to do so before agreeing to be someone’s co-signer.

If you are denied for a auto loan, your lender must give you an adverse action notice, which explains why your loan was denied, if the decision was based on information received from a credit report and the name and address of the credit bureau it used. The adverse action notice will explain that you can request a copy of your credit report from the credit bureau that provided it. If you believe the information reported is incorrect, you should file a dispute with the credit bureaus. If you aren't sure how to proceed, contact the lender that denied your loan application.

Although, we do not sponsor any company, we do like to keep our readers informed of creditors that help people with bad credit auto loans.