Compare bad credit car loans you can apply for online | finder.com

Have bad credit and need a car loan? These are your options.

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How to finance your car with less-than-perfect credit.

Got car loans? You might have trouble financing a new car, though you aren’t totally without options. In fact, some specialize poor credit loans. But watch out — these often charge higher interest rates and fees. And you might need a cosigner to be approved.

Our top pick: car.Loan.com Car Loans

  • Min. Credit Score Required: 300
  • APR: Varies by network lender
  • Requirements: Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
  • Easy online application
  • Fast response time
  • Bad credit, no credit OK

Our top pick: car.Loan.com Car Loans

Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.

  • Min. Credit Score Required: 300
  • Requirements: Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
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Compare bad credit car loans

Updated May 20th, 2019
Name Product Filter Values Minimum Credit Score Loan Term Requirements
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
300
Varies by lender
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Fair or better credit
From 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.
Good to excellent credit
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

How to get a car loan with bad credit

Getting a car loan with bad credit is a lot like getting any other type of car loan. However, you might have to work a little harder to find the best deal.

  • Check your credit report. A mistake on your credit report can cost you points on your credit score. You can get a copy of your credit report for free and fix mistakes by contacting the creditor.
  • Compare, compare, compare. Using a connection service that specializes in bad credit financing can help you quickly get an idea of what rates you’re eligible for, but you might not want to just stick to one — many of these are limited to their network of partners.
  • Read the fine print. Many states have limits on car loan APRs, and some bad credit lenders try to sneak around these by tacking on over-priced add-ons in the contract.
  • Ask an expert. Worried you won’t qualify? Sign up for a credit counseling session to have an expert guide you through your options. You can find a legit credit counselor on the Department of Justice’s website.

Bad credit commodore7 questions to ask about bad credit car loans

Before you apply for any loan, find out as much as you can about the offer you’re getting. Ask yourself these questions before you apply.

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Mistakes to avoid with a bad credit car loan

Make sure you know exactly what you’re getting into before you sign up for a car loan — or any loan. If you don’t do your research, you could find yourself in a financial nightmare, or worse — in a scam.

  • Going over budget. Work out how much money you’ll be paying back over the course of the loan to get an idea of how much you’ll spend on your vehicle — is it worth it, and more importantly can you afford it?
  • Not checking reviews. Check review sites, messages boards and car enthusiast websites to see what other people have to say about certain lenders. If you know someones who’s been in a similar position when financing a car purchase, ask them.
  • Extremely long loan terms. Some lenders offer loan terms of six and seven years that can accrue major interest over time. Sure, the monthly payments will be lower, but if it’s not absolutely necessary, it should be avoided to save money.
  • Being unprepared. Check your credit score before you do any car shopping so the dealer or lender can’t take advantage of you. Also, by knowing interest rates that other lenders offer, you’ll be able to compare and find the most competitive deal.
  • Making an impulsive purchase. Of course your dream car is out there. But if you have poor credit, it may have to wait so you can buy a car you can afford — and has lower rates.

Alternatives to consider

If a bad credit car loan isn’t the right choice for you, you could consider using a credit card to buy a car. The smart way to pay for a car purchase with a credit card is to buy a cheap car and take advantage of a low interest rate or 0% offer. This way you pay off the balance gradually without the hefty charges associated with a regular credit card or personal loan.

Another way to avoid taking out a bad-credit loan is to wait. Work towards improving your credit score by controlling your debts, managing your finances responsibly and knowing what’s on your credit file so you can remove any errors or disputes from your file.

Compare car loans for bad credit

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2 Responses

  1. Default Gravatar
    CandaceFebruary 11, 2019

    I currently owe under $3000 on an auto loan. Unfortunately, the lender is no longer functional. Is it possible to roll that loan into a new loan?

    • Avatarfinder Customer Care
      JoshuaFebruary 18, 2019Staff

      Hi Candace,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      It is possible depending on what your terms and conditions stipulate. Generally speaking, even if your lender goes out of business, you would still need to pay your loan obligation. In most cases, your loan would be sold to another lender and then you would pay to the new lender.

      It is best to speak to your lender to know if you can roll that loan to another loan.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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