Having bad credit can certainly make obtaining an auto loan, mortgage or a credit card more challenging; but luckily there are some auto lenders willing to lend a hand to get you back on track and loan you the money you need in order to obtain a vehicle.
Having bad credit or no credit does not automatically mean that you can’t finance a vehicle, which is a common misconception. In fact, assuming that you can’t get approved anywhere or that you have the world’s worst credit can be a costly mistake, and one you should avoid. And with that, here are our best tips for obtaining an auto loan with bad credit:
Don’t automatically assume your credit is “bad.” Be an optimist! You know when you have missed payments or declared a bankruptcy, but chances are you might not know exactly how it has affected your credit.