Here’s an exhaustive list of the best places to apply for an auto loan with bad credit. Some of these subprime auto finance resources will be easier to get approved with than others and you can apply with as many or as few as you wish, if you’re interested in comparing car loan offers.

Note: One thing that many people neglect to do, is obtaining a current copy of your credit report and credit score. That way, you’ll know exactly what you’re up against. Here is a good place that can give you instant access for free.

Your local bank. Have you tried that yet? If you have a checking account with a local bank that is in good standing, they may or may not be able to provide a loan for you. One stickler about using a local bank is that they will generally require a down payment. That’s ok though, if you have the money available. Using a local bank will enable you to buy a car from a private seller, and thus save sales tax on the purchase.

Your local credit union. It’s surprising, but credit unions can provide lower interest rates for bad credit auto loans than any other source. You do have to be a member though. If you have that resource available, go for it!

Online subprime auto loan and lender networks. There are thousands of websites online promoting bad credit auto financing. Are they all legitimate? Heck no. But, there are some that are and I’ll give you a list of the best ones to use, based on their track records, industry reputation, etc.

Web2Carz is a good choice. They have an extensive nationwide network of auto loan and dealer companies that can help you. If you have any questions while filling out the application, they have telephone support on their site.

Web2Carz minimum requirements:

  • Must make $1800 per month
  • All bankruptcies discharged
  • Repossession ok if included in bankruptcy
  • No multiple repossessions
  • Must be 18 or over to apply
  • Available for U.S. applicants only
  • 99% of applicants approved

YourAutoCash functions in much the same way as the company above, but is not as well known. They’re a good service, but I don’t have much knowledge other than I’ve heard of many people that have used them with good success.

AnyCreditAuto has a cheesy looking site. Ok, I said it, but – they do have a BIG network of auto loan lenders/dealers and can do things to get people financed that are a bit surprising for a site with their “look”. They specialize in helping people find low interest rate loans with bad credit.

AnyCreditAuto minimum requirements:

  • Monthly income of $1100 or more
  • All bankruptcies discharged
  • Repossession ok if included in bankruptcy
  • No multiple repossessions
  • Must be 18 or over to apply
  • Available for U.S. applicants only

MyCreditTree is a little less known but has been steady at the finance wheel for years. The best part about these guys is that you know if they have an available lender for your area, before you complete the application. Just enter your zip code, monthly income amount (which qualifies you for your car payment) and wa-la… you’re on your way.

MyCreditTree minimum requirements:

  • Monthly income of $2200.00 or more
  • No bankruptcy
  • No repossessions
  • Must be 18 or over to apply
  • Available for U.S. applicants only

DriveTime is the ONLY buy here, pay here car dealer franchise that I would recommend. However, you have to live in an area that they cover. Those areas are listed below.

DriveTime minimum requirements:

  • $800.00 or more monthly income
  • Repo ok
  • Bankruptcy ok
  • 18 and over to apply
  • Only available in certain areas

Here is a list of DriveTime locations:

  • Albuquerque, New Mexico
  • Atlanta, Georgia
  • Austin, Texas
  • Charlotte, North Carolina
  • Dallas, Texas
  • Denver, Colorado
  • Greensboro, North Carolina
  • Jacksonville, Florida
  • Las Vegas, Nevada
  • Los Angeles, California
  • Nashville, Tennessee
  • Norfolk, Virginia
  • Oklahoma City, Oklahoma
  • Orlando, Florida
  • Pheonix, Arizona
  • Raleigh, North Carolina
  • Richmond, Virginia
  • San Antonio, Texas
  • Tampa, Florida
  • Temple, Texas
  • Tucson, Arizona

Tips to remember when filling out your application

  • Always use your complete physical street address
  • Don’t omit any fields
  • Use your exact income amount – don’t estimate
  • Use your exact length of employment
  • Be truthful when answering all questions

Each service is different, but you can expect to get an approval answer from each of them in a matter of a few minutes to a few hours. Thousands upon thousands of people that have bad credit get approved through these subprime services every day, so you can be confident that you’re making a positive step in the right direction.

Remember… don’t take the first offer that you’re given… it’s always a great idea to compare car loan offers and make your decision based on interest rates, required down payments (no money down is available through some sources) and other factors. Be smart about it and don’t let your emotions get the best of you!

I’ll add more resources/services as they are available.

THANK YOU for being here!

BadCreditAutomotive.com