How much can I borrow with cheap car loans?

The amount you can borrow varies by lender. Many cheap car loans range from $5,000 to $50,000 for a regular car, all the way up to $100,000 for a luxury vehicle. The amount you qualify for will depend on factors such as your credit score, income, current debt obligations and ability to repay.

Can I get pre-approved for a cheap car loan?

Yes, many lenders offer pre-approval to give you an idea of the interest rates and general loan conditions you might qualify for. That said, you won't know exactly what your loan offer will be until you fill out a full application.

Can I get cheap car finance deals with no deposit?

You can get cheap car finance deals with no deposit. Just keep in mind that the less you put down on payments, the more you'll pay overall. The higher the amount you borrow, the more interest you pay, and the more your loan will cost you in the long run.

Is it possible to get cheap car finance with bad credit?

You can get cheap car finance with bad credit in some cases, but some lenders will decline bad credit borrowers. You'll need to do your research to find out which lenders are willing to approve you and be prepared to pay high rates and fees for borrowing.

Can I buy a car from a private seller with a loan or will I have to go through a dealer?

It depends on the lender. Some will give you a cheap car loan to buy from a private seller, but you'll still need to provide details about the car. You may also get a less optimal rate if your lender is unable to inspect the car before you buy it.

Does applying for a car loan affect my credit report?

It can if your lender runs a hard credit check. That said, most lenders will only run a soft credit check, which won't have an impact on your score. The biggest impact on your score will come if you take out a loan and then default on your payments.