• Home
  • About Us
  • Safe & Secure
  • Apply

Car Loan Market

Verbiage
  • Home
  • About Us
  • Safe & Secure
  • Apply

Can You Get a Car Loan With Bad Credit or No Credit?

Tweet
Back to Articles

Is it actually possible to get approved for an auto loan with a bad credit score or even no credit score at all? If so, what’s the catch? This question is a very common concern for auto loan shoppers. That being said, thousands of people with bad credit situations get approved for quality auto loans and purchase vehicles every day, so it is absolutely possible. And the reasons are pretty simple!

First of all, banks are in the business of issuing loans to consumers. In a down economy, like the one we are currently in, more people experience credit challenges. In order for business to continue as usual, banks need to be less restrictive in their lending requirements. Because the number of individuals with “perfect credit” is dropping every year, lending institutions are offering bad credit auto loans more often. Although a bad credit auto loan may not have the same interest rate as a good credit auto loan, it still provides individuals with less-than-perfect credit the opportunity to purchase the new car they need.

Second, by nature a car loan is a secured loan. What this means is that your car is deemed as collateral. Banks are far more willing to finance an auto loan because of this fact. Although they will never admit it, banks realize that a low credit score doesn’t always mean you won’t pay your bills. They also know that car loans are a great way to improve your credit score. Assuming you have a good payment history, banks will want to keep your business, offering you more loan opportunities in the future.

Finally, the car business is an extremely competitive market. For new car franchises, it is often more important to sell a car than it is to make a huge profit on that car. A huge part of this is the fact that manufacturers pay dealers incentives based on the number of cars they sell, not the price the dealers sell the cars for. The more cars a dealership sells, the larger the incentives become. Financing cars becomes much easier in this scenario because dealers are often willing to sell cars at cost, and sometimes even below cost.

CarLoanMarket.com can help you get financing despite your past credit problems. Our application process only takes a few minutes to complete and is designed to give you a chance to evaluate your best finance options by connecting you with one of our lender or dealer affiliates.

If you have bad credit or even no credit, that doesn’t mean you can’t get an auto loan. CarLoanMarket.com gives FREE, No Obligation car loan options through our lender or dealer affiliate!

Back to Articles
05/09/2015

CarLoanMarket.com is all about getting
you a great auto loan! Our simple form
takes less than two minutes.

Girls Excited

Apply Today and Drive Tomorrow!

  • Articles
  • Videos
  • Agreement of Usage
  • Privacy Policy
  • Electronic Documents Consent
  • State Law Disclosures
  • Sitemap
Tweet

Copyright 2015, Car Loan Market, LLC.

All rights reserved.

Better Business Bureau
Car loans made easy – CarLoanMarket.com
Auto Loans for Bad Credit
Car Loans for First-Time Buyers
Car Loans for Used Cars
Used Car Buying Tips
Don’t Be an Impulse Car Buyer
Getting Approved for a Loan if You Are a First Time Car Buyer
A Quick Guide to Buying a Car
Online Auto Loan Connection Services Are SMART!
Online Car Loan Consumer Connection Services are SIMPLE!
Get Car Financing FIRST. Save Money and Time!
Get Easy Auto Loan Financing With CarLoanMarket.com!
Poor Credit Auto Loans
Bad Credit Car Loans
Credit Challenges? You Have Options!
Tips to Get Approved for an Auto Loan
Key Points in Getting an Auto Loan
Can You Get a Car Loan With Bad Credit or No Credit?
The Power of the Down Payment for a Car Loan
Cosigners Are Powerful Assets When Shopping for an Auto Loan
The Pitfalls of 0% Auto Financing and Low Interest Car Loans
Obtaining Car Financing: What You Need to Know
Being Smart About Used Car Financing
Used Auto Loans vs. New Auto Loans
More About CarLoanMarket.com
Car Payment Options
Auto Financing and Leasing vs. Outright Purchase
The Top Five Ways to Get the Best Auto Financing!
Difficult Circumstances: When You Have Bad Credit
Get the Car of Your Dreams With a Quality Auto Loan
A Quick Auto Loan Guide
Finance Your Vehicle Hassle-Free With Bad Credit Auto Loans
Auto Loans for Used Cars
Don’t Just Research Your Car… Research Your Loan!
Getting Your Auto Loan: Know the Score and the Process
Bad Credit? Be Careful!
Know Your Credit Score… and Negotiate!
Don’t Get a Loan Without Counting the Costs!
Online Auto Loans… A GREAT resource for YOU!
Car Loans Online
Get a 72-Month Car Loan
Pre-Approved Car Loans Online
Used Car Loans
Prequalify for Your Car Loan