Guaranteed Approval Car Loans with Bad Credit

Many people see lower credit financing opportunities as a risky option because there is no way to guarantee car loan approval with bad credit scores. In fact, being denied often causes further damage to a person's credit score. However, there is no set credit score is needed for loan approval when you work with a quality lending company.

Will a Poor Credit Score Keep Me From Buying a Car?

There are a number of car buyers who think that a poor credit score will keep you from buying a quality car, but it is possible. It can actually happen quite often when using the proper lender and financing methods. So how exactly do you go about searching for a great vehicle despite having a poor credit history?

Can You Finance a Car with Bad Credit Using SSI or Child Support?

Those individuals who are using a Social Security income or receiving child support will find that it's incredibly difficult to finance a car with bad credit. This is largely due to issues that exist with auto financing for people with poor credit and the importance placed on meeting specific stipulations. Things become more impossible when the majority of your income with is made up by child support payments and disability to income.

Find a Local Pre Approved Car Loan

Buying a car is not always an exciting experience for many people; in fact some people dread the thought of looking for a car. This is usually because of how difficult it is to find local cars for sale or have a good credit score needed for approval programs. However, you can have an enjoyable car buying experience if you use the proper resources and lenders.

Paying Off Old Debt Has Negative Consequences

There are many people who believe that paying off old debt on car loans can help improve their credit score, but it can have negative consequences.

Now theoretically speaking once a borrower falls behind on their vehicle loan they have an obligation to repay their lender back ASAP. Of course for several reasons we as people sometimes fail to do this at the best of our ability.

The only time a person might consider righting this wrong is when they apply for bad credit auto financing at a website like autonetfinancial.com and find that their credit score has dropped, and they hear people tell them to address their past debt.

The Time of SubPrime Auto Financing

Throughout last year the auto finance industry began to take more interest in financing for people with subprime credit scores, and it proved very profitable. Now we're in 2013 and the popularity of sub-prime car loans are in full swing for those who want to take advantage of this opportunity.

What is a Sub Prime Credit Score?

A credit score is offered to every consumer and is generally between 300 to 850, and a subprime credit score usually falls below 640. To some auto finance companies this may be considered to be a bad or below average credit rating, but it's still possible to qualify for a loan.

Direct vs Indirect Bad Credit Auto Financing

There are many different ways to get auto financing with bad credit through direct and indirect car loan methods. Many people fail to see that there is a big difference between the two types of lending, and depending on how poor your credit is you may prefer to choose one method over the other.

Direct Auto Financing

A direct auto loan is a type of lending that a car financing company in which a lender conducts the loan process. This means that there is no need for a bank, credit union, or other outside lender to get involved with funding you. Generally, these are buy here pay here dealers, your job is your credit lenders, and in house auto dealerships commonly offer these loans.