Bad Credit Car Loans

Car loans are easier to get by using an online financing company, even if you have bad credit. You can compare financing rates for the purchase of a new or used car, apply in minutes, and receive a blank check within days.

Car Loans Online

Online technology allows easy shopping for car loans. Through connected databases, call centers, and streamlined processes, you can connect to lenders to find low rates regardless of where you live.

Sub prime lenders, who specialize in financing people with poor credit, now have to compete for your business. Even with a bankruptcy or foreclosure, you can find financing to purchase your vehicle.

Depending on your credit score, you may decide to work with a sub prime lender who partners with certain car dealerships. In these cases, be sure to compare both the loan's and car's price. You can also put down a large down payment to improve your prospects.

Easy Comparisons

Comparing car loans is especially important if you have poor credit. You can receive free online quotes from lenders within minutes so you can compare both rates and terms. By comparing financing packages, you can be assured that you have found the lowest rate.

Speedy Applications

Technology has also sped up the application process. When you apply online for a car loan, your application will typically be processed within an hour. Through databases, lenders can verify your information and approve you for a loan amount. You can decide to use part or all of the amount to purchase an automobile.

Quick Money

Once your application has been approved, you will receive a blank check and final paperwork in the mail within a couple of days. With the check you can purchase your car or truck from a dealership or private individual. When you decide on a purchase price, you simply fill in the amount on the check.

Refinancing Option

You can also refinance your car loan in the future. By making regular payments and reducing short-term debt, you can build your credit score to good within two years. You can then decide to refinance your loan with a traditional lender with lower rates.

To view our list of recommended auto finance companies online, visit this page: Recommended Car Loan Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

Latest News


Wall Street Journal Blogs

SBA disaster loans to assist NC firms The Business Journal of the ...
Bizjournals.com, NC - 6 hours ago
The Small Business Administration says federal loans are available to small NC businesses that suffered financial losses from the drought and high ...
Restoring the flow of credit to entrepreneurs Los Angeles Times
BIZ VOICE: Banking on small guys Atlanta Journal Constitution
SBA Applauds Treasury Action to Bolster Secondary Market for Small ... MarketWatch
Austin American-Statesman - Wisconsin State Journal
all 130 news articles

UPDATE 1-Investors sue Countrywide to force loans purchase
Reuters - 52 minutes ago
N: Quote, Profile, Research, Stock Buzz)-owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to ...
Countrywide Sued by Fund Over $8.4 Billion Loan Deal (Update2) Bloomberg
Report: Bond investors sue Countrywide Bizjournals.com
UPDATE: Investors Sue Countrywide Over Modification Plans CNNMoney.com
FinancialWeek (subscription) - Forbes
all 37 news articles

Delphi wins court motion to delay loan payback
Forbes, NY - 1 hour ago
AP , 12.01.08, 04:26 PM EST A bankruptcy judge has said Delphi can postpone by six months the repayment of $4.35 billion in loans. The delay was necessary ...

New York Times

Turning Around the Idea of Student Loans
New York Times, United States - 19 hours ago
“This is a five-year loan, and that helps ensure a certain amount of longevity for this project.” Justin said he first became interested in poverty issues ...

The Star-Ledger - NJ.com

General Growth gets 2-week reprieve on loans
Chicago Tribune, United States - 9 hours ago
The real estate investment trust said it and the syndicate of lenders "are continuing their discussions" on a longer-term extension to the loan, ...
General Growth wins extension on $900M loans Providence Business News
GGP Gains Two-Week Extension on $900M Loans GlobeSt. com
General Growth gets 2-week extension on $900 million in loans Chicago Daily Herald
Forbes - International Herald Tribune
all 186 news articles

Nissan Motor to Sell $500 Million in Auto Loan Bonds (Update2)
Bloomberg - 2 hours ago
s finance unit plans to raise $500 million in the first sale of US auto-loan bonds since US Treasury Secretary Henry Paulson said the government would shift ...
Student Lender Rally May Be Brief TheStreet.com
all 2 news articles

Telegraph.co.uk

Lenders Become Proactive
New York Times, United States - Nov 28, 2008
The best example is an initiative, announced this month, to help those who took out loans backed by Fannie Mae and Freddie Mac, the government-owned ...
Washington’s $6.3 trillion bailout Boomers-Bank
Freddie Mac Expanded Investment in Home Loans Washington Post
Mortgage relief gets stuck Cape Cod Times
TheStreet.com - Las Vegas Sun
all 2,148 news articles

Commercial loan "nightmare" projected for 2009-JPMorgan
Reuters - 6 hours ago
Commercial property loans originated in 2005 to 2007 that increasingly carried risky terms are likely to see a significant increase in defaults in 2009 due ...

USA Today

Obama’s Cabinet: Payday Loans Won’t Buy That Much Ego
Personal Money Store Blog, WA - 2 hours ago
By CashAdvanceMojo Payday loans couldn’t buy that much ego in the Oval Office. Yet it will be a Cabinet for the ages. President-elect Barack Obama’s picks ...
Video: Obama names Clinton US secretary of state AlJazeeraEnglish
Hillary Clinton's test at State: How she'll work with Obama USA Today
all 4,329 news articles

San Diego Union Tribune

You can qualify for mortgage, it's just tougher
San Francisco Chronicle,  USA - 2 hours ago
The best rates and widest variety of loans are available to borrowers who have at least 20 percent to put down, said Matt Vernon, a national sales executive ...
Reverse mortgages a lifeline for seniors San Diego Union Tribune
Home prices are down, but mortgages are hard to land The Virginian-Pilot
all 4 news articles

Resources