Used Car Loans for a Credit Nightmare

Is your credit in such a mess that it's like a constant nightmare that haunts your every thought that pertains to getting a loan on a used car? I'm sure this is very stressful and it can sometimes seem like there is no way out in sight, but this is never the case. You can always find a way to get financial assistance, but how you go about it completely depends on how bad your credit is.

Credit Scores at 600-640

When you find yourself in the range you are actually carrying an average credit score which can still result in you receiving loans on pre-owned vehicles with little effort at all. The interest rates and monthly payments that you will receive will not be incredibly high or low, but you still must be sure that you're making an adequate amount of money.

About Your Credit Scores

If you credit score is found in this range you will it much more difficult to qualify for a normal auto financing, but you do have a chance to get a subprime loan. This is something that we at FindCarsUnder.com are very experienced with as we will work to get you rates that are not as high as some places may offer. The only thing that we ask of you before we finance any previously owned auto that you picked out is:

• A good monthly income that is at least $1500 or higher
• Steady employment that you have held for a good amount of time (6 months to 1 year)
• No recent repossessions in the last year, unless involved in bankruptcy being filed

 

Low Credit Scores

Once your credit score has dipped this low your main focus should be to repair your credit before seeking out used autos in your area. There are very few lenders that will even consider offering you a loan, and if they do you want to turn them down any ways because you are about to be scammed. By improving your credit little by little you can receive better rates and eventually be able to receive your ideal car without extra stress of high payments.