How Do You Get Approved For A Bad Credit Car Loan?
Getting an auto loan with bad credit is more difficult than getting one with good credit, but it is not impossible. Your credit score is only one of many factors that are considered when a lender is considering the risk factor involved with granting you loan approval. Propping up the other factors enough can usually override the bad credit score. Here is what you can do to secure an auto loan if you have a low credit score. Choose a car that presents a good value. Getting an auto loan is easier than getting some other types of loans because the car can be re-possessed and sold to cover a loan that is in default. Find a car that is priced at or below what it is actually worth, and you will have a better chance of being approved for a loan to purchase the car. Pull together some money for a down-payment. This may take some time and sacrifice, but remember, you are compensating for a bad credit score. If you are able to come up with even $1000 for a down payment, the lending agency will s
