Where can I find Car Loans for Bad Credit – Bad Credit Car loans without the hassle or high Interest rates?

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Question by Alena: Where can I find Car Loans for Bad Credit – Bad Credit Car loans without the hassle or high Interest rates?
Can someone recommend any companies that provide car loans for bad credit that they’ve had a good experience with? Ive looked online for one but there are so many and I have no idea im looking fo. I asked locally about bad credit car loans and was told to look on the internet so here I am, lol. I’ve finally gotten my life together after college and now I just need a car to get back and forth to work. Ideally I’d like to get a serviceable car for my daily commute and be able to pay the loan off early to give a boost to my credit. So yeah, can anyone recommend somewhere I can get a bad credit car loan that has a considerable interest rate?

Best answer:

Answer by SPIFIMAN1
Auto finance is what I do for a living there are 10 things that go into making up a car deal weather it’s a purchase or a lease and all can effect the interest rate.

1. Term of loan. Shorter the better.
2. Age of vehicle. Newer the better.
3. Miles on vehicle. Lower the better.
4. Amount to finance compared to book value. Lower the better.
5. Credit score. Higher the better.
6. Credit profile. Deeper the better.
7. Down payment. More the better.
8. Monthly income. Higher the better.
9. Time on job. Longer the better.
10. Time at residence. Longer the better.

As long as all of the above are in line with the lender guide lines and you make enough income to budget for the payment you should be approved. As you can see from the above list there are way to many things that go into making up a car deal to guess at your interest rate.

You might try Americredit, Capital One, Wells Fargo and Santander. They all offer loans to people with limited or damaged credit.

Good luck.

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