Auto Bad Credit – Guaranteed Auto Loans Everyone Approved

Loans for those with auto bad credit are fairly simple to obtain. The reason for this is that most prime market auto loan lenders allow for a percentage of high risk bad credit auto loans within their portfolio.


Bad credit auto financing has somewhat changed with the slow down of the economy but it has not by any means been eliminated. In fact what we have seen is many of the scam companies that would charge those with bad credit 40% or more are now gone.

Prime market lenders have the financial backing to diversify their portfolio into high risk loans without having to charge excessive interest rates.

Auto financing for bad credit will carry a higher interest rate, but if you don’t choose the right auto loan company you will end up paying three to four times the initial loan. While our government continues to work on lenders that will scam you, your bad credit should not involve having to pay those types of rates.

There are several tell tale signs that will tell you if you are choosing a reputable bad credit auto loan. First be sure that the lender and or dealer does not limit your selection of vehicles on their lot. If so they are doing so because vehicles that do not hold their value offer the dealer and auto loan company the opportunity to over charge on the vehicle and also reduces their risk.

Simply put those are the loan companies you don’t want to work with. Lenders who need to hit you on both ends with higher interest rates and overcharging for your vehicle do so to cover their risk because they do not have the backing of a major lender.

On the other hand there are many reputable bad credit auto loan companies who while charging you higher interest rates will offer a very fair deal on a vehicle that is worth the cost.


Auto loans for bad credit through the right lender are guaranteed and many times offer zero down financing. If you have the choice of any vehicle and check the blue book value of the vehicle you are interested in, you can quickly determine the credibility of the company you are working with.

It is important for to know you are working with reputable bad credit auto loans. There is one more tip that is actually very important if you are to work towards prime interest rates with your next loan.

The sub-prime secondary market that you will be working with offers you a great opportunity to get the vehicle you want at a fair but higher than prime interest rates.

Your goal should be two fold. First to obtain the auto bad credit loan which you can do, but also to repair bad credit. Ask the lender you are talking to if they report your timely monthly payments to the three major credit bureaus. If not, you are not working with a reputable lender who works with auto bad credit.

Once you have paid your auto loan for 15 months or so regardless if it is paid off or not you will be able to trade your vehicle in (if that is your desire) and buy another vehicle with lower interest rates.

The secondary market and more importantly the prime market wants to see those with bad credit make every payment on time and that your days of late payments are in the past. This is a great way to rebuild your credit and get the vehicle you want.

We often are asked how and where can you go to obtain credit cards with bad credit. 90% of the prime market loan companies also work within the secondary high risk bad credit market.

There are many reputable secondary market loan companies who will grant you an unsecured credit card even with bad credit. Do a little research to be sure your not working with a company who wants to charge you 27% interest. If they do keep looking there are legit companies waiting for your business.

Most people simply do not realize that they are able to obtain credit cards, mortgages and auto loans with bad credit. While you will pay higher interest rates, the secondary market for bad credit allows you to repair bad credit while obtaining the loan you need.

You of course still need to be careful. There are many lenders who do not have the backing of a major lender that will charge you very excessive interest rates. Those with bad credit feel that they have no choice but that simply is not the case.

As long as you are working with a reputable loan company who works with unsecured credit cards with bad credit you will get the credit you need with a fair interest rate. Most secondary loan companies will start out with a maximum credit limit of anywhere from $500 – $2,500 depending on the loan company you work with.

As you make timely monthly payments the loan company will offer to increase your credit limit on your credit card. You will find auto loans with bad credit work the same way. Once you have paid down your balance and go for another loan your interest rates come down and your borrowing power goes up.

Most importantly is working with lenders who are reputable and have the backing of a prime loan company who also works in the secondary market. It is sometimes hard to tell since the lender is usually a sister company to the major loan company but there are ways.

So how do you know if a lender is reputable?

Be sure to ask the credit card company if they report to the three major credit agencies. This is a tell tale sign as most lenders who will rip you off in a minute do not have the time and concern to report your timely payments.

Depending on the loan company you will pay between 5% – 20% above prime interest rates. More than that and you are working with a company that does not have the backing of a major company and they have to charge excessive rates to make up for their losses.

Regardless of what the credit card company offers as a maximum spending limit, it is important to put your bad credit in the past. The only way to do that is with a credit card or a guaranteed auto bad credit loan. Both loans will quickly repair bad credit putting you back into a position of strength instead of weakness with lenders.

The next loan you obtain you will be able to lower your interest rates and increase your borrowing power. Don’t let bad credit slow you down from the credit card or auto loan you need. Our country is structured to give second chances and there are some good reputable companies that will give you the credit you need.

Auto bad credit does not have to stop you from getting into the car of your dreams. It has become very easy to obtain the auto loan you need even if you have bad credit. Don’t let auto bad credit stop you. Bad credit can be a starting point to obtain the loan you need while re-establishing your credit.

Bad Car Credit

With bad car credit you are able to get the auto loan you need while rebuilding your credit. Do you have any of the following:

* Slow Payments

* Bankruptcy

* Repossession

* Bad Credit

If you have answered yes to any of the above there is a solution. There are many companies who specifically work auto loans even if you have bad credit.

The secret is to know which companies are not going to charge you an arm and a leg for both your vehicle and the financing for your auto loan.

While most will charge you a higher interest rate, with a bit of smart shopping you will at least find a car dealership and financing company that does not excessively charge you for the vehicle.

Don’t let auto bad credit stop you. Our country is built on second chances and there are many loan companies that want to give you the opportunity you deserve with an auto loan.

Repair Bad Credit

One of the problems we have seen are dealerships and financing companies who hit you on both ends. They will excessively charge you for the vehicle and charge higher interest rates.

This of course is why it is important to find an auto loan company that is reputable and will grant the loan you deserve with the ultimate goal being to rebuild and repair bad credit.

You do not have to be ripped off in the mean time. Many companies will charge you a higher interest rate yet give you a very fair deal on your vehicle.

Here are some tips that will help you to understand how trustworthy the loan companies are.

* How long have they been in business with bad credit financing

* Are they a member of the better business bureau

* Are they connected with one or more auto dealerships allowing for a larger variety of vehicles

* What recommendations do they have and from what agencies

Another big questions is does the company specifically work with bad credit. Those companies that work with both good and bad credit are less likely to grant you the loan you deserve at the finance charges you want.

Let your auto bad credit be the start of something good. There are many loan companies who have a solid reputation that will grant the loan you need while rebuilding your credit. Once you have found the loan company you want to work with simply ask the questions listed above to assure the credibility of the company.