Doug's Credit Center Blog

Finance a Car Loan with Any Credit

Are you frustrated with applying for auto financing only to be turned down time and time again? Are you aware that there are a number of lenders that are willing to finance a car loan with any credit, but you just can’t find the right one that meets your needs?

Are you fed up with the demand for unreasonable down payments, offers with outrageous interest rates, and proposals that include ridiculous credit terms? Would you simply like to obtain an auto loan without the hassles, embarrassment, and disappointment that tends to obstruct your path? If this sounds like you, and you would like to learn more about how to finance any credit car loans, keep reading, you have come to the right place.

Where Can I Find Auto Loan Financing if my Credit Has Been Damaged?

In today’s economy it has become a rare occurrence to see anyone with perfect credit. Due to the increased number of consumers who are currently suffering from credit blemishes, many lenders have begun to open up more and more used car loan options to ensure that everyday people have the ability to purchase that much needed new or used vehicle.

  • Dealer Assisted Financing: Although many dealerships currently offer dealer assisted financing, consumers should remember that the dealership is concerned with the final sale of the vehicle, not the terms we as consumers must live with after the purchase. Dealers may not be taking the time they should to assist consumers in obtaining auto loans with the best possible rates and terms.
  • In House Financing: Many Consumers who have experienced credit issues in the past are drawn to advertisements of in house financing with guaranteed approvals. Although this type of financing can be a good choice in some situations, most dealerships who offer buy here pay here type programs will require large amounts of cash as a down payment, charge much higher interest rates than their financing competitors, or offer short term financing which requires significantly more expensive monthly payments.
  • Online Financing: Online financing is often an attractive loan option for a number of reasons. To begin with, consumers can apply for financing even with bad credit and receive an answer without ever having to leave their homes. For consumers who have been turned down in the past, this option can be very nice, since consumers do not have to experience the anxiety of yet another dealer turning them down face to face. In addition, online lenders typically have access to a larger lending balance, can offer lower interest rates and better credit terms. For consumers who wish to compare their options, an online application might just be the answer.

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