Online Rate Options for a Car Loans (Even if you have a Poor Credit Score)

If you’ve ever wondered where you can get information on some of the best auto loan rates, then you’ve come to the right place. The demand for viable car loans has risen to an all-time high, and the supply has risen to meet it – now, you are all but guaranteed a loan for even the poorest credit scores.

There are reputable online lenders you can try for negotiable car loan – while they are dependent to an extent on your credit history, you can usually get away with a credit score that may have previously been considered “sub par”.

According to

“…Local and online banks tend to offer lower rates. The same goes for credit unions.”

How can lenders offer such low rates to consumers with low credit scores? Surely there must be some kind of catch? Thankfully, there isn’t.

Below, I’ll give you an idea of the kinds of terms offered by some of the top banks.

Auto Credit Express

This lender is geared towards buyers who have bad credit, and they do an excellent job of not constraining you to a limited palette of options just because of your credit history.

Their secret to sauce? Automation. Although there is a substantial bit of automation in the process, they conduct case-by-case situations to ensure that you get a fair shake if possible.

Even if your credit is so poor that you cannot secure a loan, Auto Credit offers rent-to-own and buy now, pay now options for people who have need a vehicle no matter what. They are highly-rated by consumer business agencies, which tells you that everything is above-board. And, best of all, they lend without restrictions on the conventional metrics that other lenders stand by – vehicle mileage limits, low cost, etc.

Capital One Bank and Credit as a Lender

You’ve almost certainly heard about Capital One; in fact, you probably have a credit card or two with them – given that several of their products routinely appear on top ten credit cards lists throughout the web. As an especially large lender, they possess almost everything you’d need on their site to help you navigate the auto loan world and figure out where you stand before you petition them for a loan.

The Auto Navigator Tool is their trademark instrument, and it displays a requested list of payments per car model. Due to their size, Capital One has tens-of-thousands of auto dealers in their approved list, which means you can find a virtually illimitable range of vehicles. The restrictions: they can’t be more than a decade old, nor can any car have more than 125,000 miles on it. The actual loan limits are from $4,000 to $40,000.

CarsDirect for Lower-End Vehicles

Sometimes, people have trouble getting one of the major lenders to foot the bill for cars with high mileage that may not cost that much. This is where CarsDirect comes into play; not only is their website a playground of informative articles and best tips to securing loans, they also offer refinancing. There’s a trade-in value calculator and an auto loan calculator with which to provide a reference point for your investigations into the right deal for you. There is literally no maximum or minimum amount for which you can apply that, although it doesn’t guarantee approval, at least offers an option that other lenders do not.

Let’s Wrap it Up Now

No matter where you choose to go to secure your auto loan, always remember to have all the pertinent details of your credit history ready, as well. This will provide you with confidence, as well as legitimate leverage should you feel compelled to negotiate for a better deal with an auto lender.