Best Bad Credit Auto Lenders of 2018

5 Best Bad Credit Auto Lenders of 2018

Need a new car, but have bad credit? Fear not…we’ve compiled a list of the 5 best “Bad Credit” Auto Lenders.

The process is typically very simple. Fill out a 2-3 minute application, and they’ll match your lead with a Dealership or Lender that specializes in credit scores/challenges like yours, in your area.

1Highest Rated
OVERALL RATING

4.9

CrediReady Auto Finance

  • Works with thousands of Dealerships throughout the United States
  • Can assist customers with monthly income of $1,600 or more
  • Fast approval process
  • Some Dealerships work with $0 Down
2Most Approved
OVERALL RATING

4.8

Auto Finance Doctor

  • Assisted over 200,000 clients get a bad credit auto loan
  • Very easy, fast application to fill out
  • Specialize in customers with less than 500 credit score
3Newest
OVERALL RATING

4.6

Epic Car Finance

  • High Approval % in Rural Areas
  • Competitive Interest Rates
  • Easy Online Application

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BEST BAD CREDIT AUTO LOAN PROVIDERS

  1. CrediReady Auto Finance
  2. Auto Finance Doctor
  3. Epic Car Finance

Why Use a Bad Credit Auto Loan Matching Service?

If you have less than ideal credit, it can be to be difficult to find a lender or dealership that can help. However, there are many trusted and verified auto lenders that can work with buyers in nearly all credit situations. An auto loan matching services goal is to provide you with the most competitive loan possible. By getting offers from multiple lenders, you can easily find an auto loan that fits our needs.

How Can an Auto Loan Matching Service Help Me?

Searching for an auto loan can be difficult and time-consuming. Many consumers with bad credit find themselves applying for auto loans from banks and institutions that require a massive amount of paperwork and time. An auto loan matching service brings competitive lenders and loan offers to you directly.

An auto loan matching service can also help to protect your credit. If you decide to apply for multiple auto loans, you could experience a drop in your credit score and still get rejected. Lenders may consider multiple applications for an auto loan in a short period of time as a red flag. An auto loan matching service can eliminate potential damage to your credit by only bringing you offers that can increase your chances of approval significantly.

Frequently Asked Questions

How Long Does it Take to Get Approved for an Auto Loan?

Most consumers will get approved for an auto loan within one hour of submitting an application. Our loan providers quick and easy application process can get you approved in a matter of minutes in some cases.

How Do You Find Me Multiple Loan Offers?

Once you submit your application, we will find and identify lenders that can meet your requirements. We have been connected buyers and auto lenders for over 12 years. During this time, we have perfected the process of connecting buyers and trusted lenders.

How Long Does the Application Process Take?

The application process is quick, easy, and fully secure. The typical application takes around 2 minutes to fill out. Once you have submitted your application, you will receive your loan offers.

Do I Need Collateral for an Auto Loan?

As the name suggests a car loan is given to a consumer looking to purchase a vehicle. Therefore, an auto loan is a secured loan, where the car that you buy acts as the collateral. No additional collateral is required.

What are the Minimum Requirements for an Auto Loan?

To obtain an auto loan, you will need:

  • An address along with proof of residency
  • An income of $1,600 per month or more
  • A valid social security number
  • A phone number

If I Apply for an Auto Loan, Will It Hurt My Credit?

FICO, the lead credit scoring model, understands that consumers will need time to shop for an auto loan and may inquire with multiple lenders. When you apply for auto loans in a short period of time (2 weeks or less), all auto loan inquiries will count as 1 single inquiry.

Is a Down Payment Required for an Auto Loan?

Most lenders will require a down payment of either $1,000 or 10% of the final sales price, whichever amount is less. However, there are many dealerships that can get you an auto loan with $0 down as well.

How Much Does it Cost to Apply for an Auto Loan?

Not a single cent! We never charge consumers for applying for an auto loan.

Does My Vehicle Need to be Insured?

In most lending situations, a lender will require that you have car insurance and that the car you buy has at least minimum coverage under your insurance policy.