What Credit Score is Needed for an Auto Loan
What Credit Score is Needed for an Auto Loan
If you are looking to buy a car you might be wondering if your credit score is good enough to buy a car and get a loan. The economy is bad right now and you might be behing in your bill payments or have lots of debt, but you are in need of a new car. In the past, auto lenders would only approve auto loan to people with high credit scores, but since the economy is in the current bad state, lenders are also in a crunch so they may approve loans to peopl with lower credit scores.
These days, if your credit score is around 480, lenders may be willing to work with you to give you an auto loan. There are actually a number of online lenders willing to approve you for a car loan quickly. In fact, I've learned that you can get multiple offers from multiple lenders who are happy to do business with you if your auto loan credit score is not quite perfect. In fact, you could have your approval for a low interest bad credit loan in 60 seconds or less!
The auto industry and the lending institutions are struggling as much as we are so they are working together to get those of us who may have a below average car loan credit score to be approved for a low interest bad credit loan. Your lender has lowered their minimum credit score standards in order to keep their doors open. Believe it or not by searching for your auto loan online is easy. Best of all, you'll have a number of offers to compare and you could be driving your new car or truck by this evening.
No longer is it necessary to fall for the high interest loans offered by shady car dealerships or buy here pay here dealers. You can now find your own a low interest bad credit loan online and have your self pre-approved to buy your new car or truck. Trust me you will be welcomed with open arms when your dealer finds out you are walking in with a pre-approved car loan in your pocket.
How to Get an Auto Loan Even With Bad Credit
Believe it or not, you may now be able to get an auto loan despite your bad credit score. Visit bad credit car loans to receive FREE quotes from the top online auto loan service providers. The application process takes only a few minutes to complete. In fact, you could qualify for a car loan in as little as a day, even if you've been turned down before. Best of all, the quotes are free and there is absolutely no obligation whatsoever.
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