Car loans for bad credit

Your request for an auto loan with your favorite Bank has been denied. The dealership explains that the decision has to do with your credit score their main bank only finances prime borrowers..

You are now in the car loans for bad credit Borrower territory and now need to find a Car loan for bad credit!

What this simply means is your going to pay a higher interest rate than normal from a lender that will issue you a car loan with sub prime credit

There are plenty of credit grantor's specializing in car loans for bad credit who are eager and willing to loan money to those with bad credit. However the the interest rates for sub prime loans are frequently very high.

So, now that you understand what your playing field looks like, how can you finesse the game in a way that gets you a reasonably priced Car loans for bad credit? Here are a few tips:

• You need to check your Credit Report. Possibly like many other Americans have found out there are mistakes on your credit report that are forcing you to get a Car loan for bad credit. Hold off buying the car and get the errors fixed because if you don’t you will pay dearly for it in your interest rates .

• Don’t get the loan though the dealer. Dealers take a cut of your rate by providing your loan. Go and get the loan on your own

• Shop around. You will come across a whole wide range of rates for sub prime auto loans so take your time and due diligence.

In this situation I would advise to only buy a car if absolutely necessary until your credit is repaired.