“Finding a Good Car Loan When You Have Bad Credit Can Be Very Difficult…”

With over ONE BILLION dollars in approved bad credit auto loan applications, this company is the best option for people making over $1500.00 per month and buying a car with bad credit. Make no mistake about it, this is the most reputable lending source for affordable bad credit auto financing, in North America.

You can expect quick results, exceptional customer service and low monthly payments.

If you would like to, Click here to see what you qualify for.

The Top 10 Reasons for This Recommendation…

1. Legitimate Company - In business since 1999, special finance programs that ACE has developed have resulted in the successful approval of over 4 and half-million dollars worth of bad credit auto loan applications every single month. In fact, over 1,000,000,000 dollars (yes, that’s billion) total have been approved through this company, and that’s because they are the industry leader.

2. Flexibility – Programs are not limited to used cars as loans for new and late model vehicles are approved, as well. A typical vehicle that fits within their guidelines is a two to a four-year-old vehicle with average mileage for the model year. There are benefits of working with a company that helps to get people into newer cars. Getting approved for a new or late model car has its benefits of lower payments, less break-downs and more warranties. That appeals to not only you, but to the good lenders who will be providing your loan approval.

3. Bankruptcy OK - Chapter 7 and 13 bankruptcy is common in today’s economy. As long as your bankruptcy is discharged, then you should be set to go. Rather than having to wait for your credit to be re-established, there are ways to get a good car loan as a first step to re-establishing your credit. Everyday, they are the first step for hundreds of people seeking to get an auto loan after a Chapter 7 or 13 bankruptcy discharge.

4. Repossession OK - There are a few requirements on this one. Your repossession needs to have either been a part of a discharged bankruptcy, or be at least 12 months old. So if you’ve just had a repossession in the last 12 months, and it wasn’t included in a bankruptcy, they simply will not be able to help you. You’ll need to work on re-establishing your credit history first, or let 12 months pass by before applying for special financing.

5. No Money Down OK - No money down programs with monthly payments based on income. It’s a myth that you always have to have a down payment when applying for an auto loan with bad credit. These guys know how to get it done by the right choice of lender, auto and credit score. By applying special dealer incentives, rebates and promotional offers, negative trade equity may be dissolved.

6. Great Rates - They’ll find the best interest rate and payment terms that you qualify for under their programs. Don’t misunderstand this. You will pay a higher rate than someone that has good credit. However, you shouldn’t settle for anything outrageous though. Find out by seeing what you qualify for. Did you know that some buy here pay here car lots charge higher interest rates than some credit card companies? Regardless of where you choose to secure your financing, do yourself a favor and avoid predatory lending practices, such as, is commonly found with lower end buy here pay here dealers.

7. Safe and Secure Application - ACE provides a 100% secure application using 128 Bit Encryption on a secure server. There is absolutely no risk of your private financial or personal information being compromised. Data security is actively monitored 24 hours a day, seven days a week by the most advanced encryption technology available on the web.

8. Same Day Approvals – One of the biggest hassles of buying a car with bad credit is the waiting. Having to sit in a car dealership for hours while the finance manager “sees what he can do for you” is a real pain. By handling your application and/or pre-qualification online, you get a quick response at home, without having to wait for hours at a car dealership.

9. Superb Customer Service - You will get the respect you deserve, regardless of your past credit history. Too often, people are treated unfairly or looked down upon when they have bad credit and are applying for an auto loan. When you apply, you’re not just sending your information into a dark hole. There are real people standing by to help you. They have one goal, and that is to get you into a good car loan, regardless of your past credit, through the best lending partners available through their service. They will provide you with the information that you need to make a wise decision and there is no pressure, no hassles and no fuss. I’ve been nice so far, haven’t I? Remember, just because you have credit problems does not mean that you aren’t a customer! YOU have the final say so about what you do or don’t buy, and it’s up to YOU to say I will accept this offer or no, I will not. That’s the way it should be.

10. Coverage is Available in the Following U.S. States & Canadian Provinces: Alabama, Alaska, Alberta, Arizona, Arkansas, British Columbia, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Manitoba, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Brunswick, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Nova Scotia, Ohio, Oklahoma, Ontario, Oregon, Ottowa, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Toronto, Utah, Vermont, Virginia, Quebec, Washington, West Virginia, Wisconsin and Wyoming.

Why is “Buy Here, Pay Here” Financing Not Recommended?

A recent CNN editorial referred to the Buy Here, Pay Here industry as, “bottom feeding for used car buyers in a recession.” That is strong language. The buy here pay here industry as a whole, sells used cars with an average odometer reading of 90,000 to 110,000 miles with absolutely no warranty.  Buy Here Pay Here interest rates are usually very high with an average rate of more than 20%.  Car sale prices are hardly negotiable and down payments are always required. To top it off, buy here, pay here car lots rarely report your payment history to the credit bureaus, resulting in no benefit to your credit score as you make your timely payments.

Having worked around sub prime auto financing since 1996, I can tell you that you will hardly find anyone that would choose to use buy here pay here financing over a real bad credit car loan. It’s easier to get approved than many people think for a good car loan with bad credit through companies the specialize in sub prime auto loans. It’s mainly a matter of knowing where to apply and focusing on top companies that provide car-buying services and loan arrangements, as listed above. This website is not here to “bash” the in-house financing industry. It is simply our opinion, that there are better options for most consumers. If and when any buy here, pay here dealerships that are fair to deal with are noted, they will be recommended in the future.

What About My Trade In?

Have you ever noticed that every car dealer offers to give you a different amount for your trade? They call this a “trade allowance” and is usually not based on the actual value of your vehicle, but is more of a number’s game. With legitimate dealer incentives, rebates and promotions, you will probably find that even if you do owe more on your trade-in than it’s worth, there are creative ways of absorbing negative equity into your new loan.

Before you make any buying decision, you’ll know exactly what you’re being paid for your trade, how much is being sent to pay off your present loan and what the difference is, whether it’s positive or negative. If your vehicle is currently paid off, that’s great and will help to reduce the amount of your new loan. If it’s financed through a buy here, pay here dealership it will be handled the same way as if it were financed through a traditional lender. You have the final say in accepting or rejecting any offer or quote.

About This Site: Buying a Car With Bad Credit refers to obtaining an auto loan by a consumer with a low credit score.  This is also known as a fair, poor, marginal, slow or less than perfect credit rating or credit history. (Check your credit score here.) Regardless of the terminology used to describe it, if you have bad credit and have had a hard time getting approved for an auto loan that is affordable, sub-prime or otherwise known as, secondary lenders, or service providers that are legitimately in business, as listed above, are your best options for getting approved for buying a car with bad credit.

In today’s online world, finding a legitimate company that truly helps people with buying a car with bad credit is tough, and I hope the information on this page has helped to point you in the right direction. See the link above to find out what you qualify for based on your income.

Reference: For more tips for buying a car with bad credit, and information about how to get the most for your trade in, visit buyingcarswithbadcredit.com (source).

Why Do Car Dealers Want a Down Payment For a Car Loan When You Have Bad Credit

When you have bad credit, car dealers frequently want down payments for car loans for a number of reasons. Sometimes it's the lender that wants a down payment as part of what is called a 'stipulation'.

I'll explain to you how this works and give you a practical example.

When you fill out a credit application and to try to get approved for a car, the finance manager (at one time was me) would then fill out the rest of the credit application with the information about the car that you wanted to buy. This would include the vin number, make, model, mileage and all that jazz.

What happens then, is that the credit application is received by the lender. In some cases, the application may be submitted to numerous lenders to not only see what you could get approved for, but also how much money can be made on your car loan with each particular lender. (This is why when you have even good credit, your application gets sent to multiple lenders by the dealer.) Each lender then replies with a response.

Based on a vehicle that you have taken a look at or wanting to buy, the lender may approve you for financing for that particular vehicle, but add the stipulation that they will only finance a particular amount for that particular vehicle. This then places the burden on the dealership of doing one of two things... either lower the price of the car to the amount that the lender will allow or the dealer has to request that you make up the difference.

While supply and demand can dictate that some vehicles will require them to be sold at a higher price and far above loan value, there are a lot of great deals on both used cars and new cars right now. Finding a good price on a vehicle is the key to eliminating the need for a down payment.

One of the easiest ways to get approved and get the best deal on secondary financing (bad credit car loans) is to compare offers online. There are a few good sources that allow you to do this.

Why Buy Here, Pay Here Programs Are a Bad Option For Bad Credit Car Buying

For people with bad credit, the appeal of guaranteed auto financing is hard to resist. Buy here, pay here programs advertise no credit checks which appears to be very promising. However, like many other situations in life, this offer is often revealed to be too good to be true. The thing that most people fail to see is the disadvantages far outweigh the benefits in this type of offer.

"Buy here, pay here" programs do not have to report to any of the major credit bureaus 99 percent of the time. As a result, your credit is not improved when you make timely payments. This is not the best option if you are trying to get a loan and repair your bad credit at the same time.

If you are short on funding and have bad credit or no credit at all, you may resort to a "buy here, pay here" program. Since many people like yourself do this out of desperation, dealerships of this nature get away with charging you up to two hundred percent more than you would pay if you had gone through a good online secondary lender.

No one with good sense would be willing to pay 20 to 30 percent interest on any loan, let alone a loan for a car. These establishments play on the desperation of customers which makes the reason for their continued existence quite clear.

Reputable online secondary lending companies or sub-prime lenders are more than willing to provide loan approvals, even after disastrous credit situations such as repossessions or bankruptcies. Some secondary lending companies have applications online which allow you to instantly know whether or not you have been approved and for how much.

No matter where you decide to finance your next car, make a careful decision. Educate yourself thoroughly about your options and only consider the use of "buy here, pay here" programs a last resort.

Where's the Best Place For Getting Approved For a Car Loan When You Have a Really Bad Credit Rating

When you have a really bad credit rating, it can leave you feeling a little down in the dumps about getting approved. So many different lenders have so many different guidelines and the car dealerships, well... they just don't seem to make things clear when it comes to auto finance. It can seem like a losing battle and that you'll have to wait for years in order to be able to have your credit rating repaired enough to qualify for a nice car.

Do you have to wait years in order to qualify for a car loan?

Although you most likely will not qualify for a very expensive vehicle, you can obtain auto financing while you're still waiting for your credit rating to improve. Specialized lenders that help people with bad credit ratings can make the difference between your being approved for a nice vehicle with reasonable terms, or not being approved at all.

What type of down payment will be expected?

There is a myth that if you have bad credit, you always have to have a down payment. That's simply not true. The loan value of the vehicle being in-line with a reasonably priced auto is what makes the difference. If you're required to have a substantially large down payment, that doesn't help your finances, does it? It's better if the financing can be worked in sync with your choice of car based on your approval amount.

Where is the best place to get approved with really bad credit?

Although it's new to many people, lending services that are available online can help you to be paired with a specialized lender that is in the business of helping people just like you, to overcome their credit challenges with a good car loan. It's easier than most people think, although many are more comfortable with the traditional car dealer routine.

Where is the Best Place to Get a Car Loan With Bad Credit

So where exactly is the best place to get a car loan when you've got bad credit?

First of all, you certainly want to avoid the following...

Avoid Buy Here Pay Here Dealerships. These types of establishments that offer in-house financing charge extremely high interest rates, price their cars at retail or above, and generally always want a down payment. This is not the best place to get a car loan and certainly not if you're wanting to save money. Buy a car from one of these places and you'll be paying not hundreds, but thousands of dollars more for finance charges than you have to.

Avoid Dealer to Dealer Hopping. Don't go hopping from one dealership to another trying to get approved. So many people with bad credit do this and it leaves large numbers of credit inquiries on your credit report. Those inquiries stay on your credit report for two years and they show that you're having a hard time getting approved. When you go to a second or third dealership trying to get approved, the dealer can see the banks and loan companies that you've been sent to already and have been turned down. So, if you're doing the dealer to dealer hop, stop now!

Online Lenders Save the Day. If you have bad credit, the best place to get approved for a car loan is online. Now don't go entering your information into 15 websites. There are a couple legitimate sources on the internet that allow you to either search through a database of lenders. There are also sources online that will pair your credit history with lenders that are guaranteed to approved you. In my opinion, online sources are the best place to get a car loan if you have bad credit.

Where Can I Get a Car Loan

Many people ask, "Where can I get a car loan"? The answer depends on whether or not you have good or bad credit. Let's look at options for both.

If you have good credit...

Car Dealerships

Local banks

Credit Unions

Online Lenders If you have bad credit, then the best option for you is to use an online lender, as well. There are companies now on the internet that have special finance programs that base your car payments on your monthly income. It's very simple to get approved and a down payment is not needed unless the amount financed exceeds the loan value of the car. If you don't understand that, don't worry. They'll provide you with all of the information that you need. Sources are available online now, that were unheard of a few years ago. In fact, many people that have a bad credit rating, don't even know that these lending sources are available for everyone.

If you have bad credit, you would appreciate...

No money down

Great interest rates

Low monthly payments, based on your income

Being able to buy your car wherever you want to

Getting approved in minutes That's what some online sources provide you with, when you take action and ask for a loan. It should be clear to you, by now, that car dealerships are not the answer if you have troubled credit. Car lots are no more than middlemen that take your application along with the price of the car that you're wanting to buy and simply submit it to lenders. You can save money and time by doing this yourself, online. You'll also get approved, much easier.

Where Can I Find a Car Loan If I Have Bad Credit

Have you been told that your credit isn't good enough for a car loan and that you'll have to wait until your credit gets better? You're probably wondering if there is somewhere that you can go to get a car loan without having to fool with a car dealership finance department. There are places that you can go to get approved and it's much quicker and simpler than you may think.

Online lending services that are legitimate and reputable will allow you to find a lender that will give you a bad credit car loan. There is no hocus-pocus involved and it's not anything that's too good to be true. There simply are more lenders than there are car dealers for most communities and finding the right lender is what you should do.

You wouldn't go to a plumber if you had an electrical problem, would you? Of course you wouldn't. So why would you rely on a dealership that is geared towards helping people with good credit, get you an auto loan? Until your credit gets repaired and improved over the next few years, you need to find a good lender that specializes in helping people with bad credit, not good credit.

When looking on the internet, make sure that the lending source that you choose has a secure website, so none of your personal information can be compromised. You also should look for a site that has a high approval rating. Some get 99% of their applicants approved for an auto loan.

When You Can't Get Approved For a Car Loan Locally

When you can't get approved for car loan locally, it can feel like there is just know where to turn. This is common, so don't worry about it. There are lenders that can help you to overcome this. Without smoke and mirrors, legitimate online car loan companies can help you and actually do a lot more for you then you may be thinking.

With thousands of lenders in the United States, it should be easy to fathom that there are bad credit car loan companies that can help just about anyone, get a real car loan with reasonable terms. Finding them, can be a challenge if you don't know where to look or where to go.

Let's clear something up, ok?

If you have had a bankruptcy, yes... you can get approved. However, all of your court proceedings relating to the bankruptcy need to be completed. The meeting of creditors and the final discharge or dismissal needs to be taken care of, prior to your applying for auto credit through these lending sources.

Also, if you have had a repossession within the last year... it needs to have been included as a part of a bankruptcy. If it was outside of a bankruptcy, and was within the last 12 months, then you will not qualify.

Your income needs to be a solid $1700.00 a month or more, per month. This is your GROSS income before taxes, including all wages, tips, etc.

It's easy to qualify and you if you're used to dealing with typical car lots and such, you'll be pleasantly surprised at the interest rates as well as, the payment terms that can be worked out for you.

What's the Credit Score Needed For a Car Loan

Credit scores can be broken down into a few categories:

Prime

Good

Sub-Prime

Bad

Poor

So what is the actual credit score needed to get a car loan? 

The answer isn't quite that simple. Regardless of your credit, you can get approved for a car. It's just a matter of using the right lender that fits your credit situation. You can get approved based on your income through special finance companies that offer their services online. There are real and legitimate lenders online that cater to helping people of all credit scores.

It depends on the lender...

There are lenders that specialize in working with people that have prime, good, sub-prime, bad and poor credit. Finding the right lender is all that you need to get approved. There is no direct answer to the minimum credit score for an auto loan. All lenders are different.

Fortunately, if you have bad credit, you can get approved for a new or used car and your payments are based on your monthly income. It's very simple to obtain a car loan if you have a low credit score and getting approved with lenders that operate online is much faster than using a local bank, credit union or car dealership.

Believe it or not, new cars are just as easy to get if you have bad credit. It just depends on the make, model and the amount financed. If you can get approved easily for a $18,000.00 used car, it's even easier to get approved for an $18,000.00 new car. The minimum credit score to get approved through special finance online is 480. 

What Kind of Car Can I Get For $300 a Month

The advertising ploys of car dealerships have changed people's interests from the total price of the car to monthly payments. More people now are concerned about what their monthly payment is than they are about the total price of the car. Car dealerships would prefer that you have this perspective and that your focus be on payments, rather than price. So, "What Kind of Car Can I Get for $300 a Month?" is a tough question, but there are good tips I can give you to help you to make a smart decision.

First, take your mind off of payments. The first thing you need to negotiate and think about when your car shopping is the price of the car. It may be that you would be able to get payments that are lower than $300 a month if you focused on the price rather than the monthly payments. If you walk into a dealership and tell them that I will my payments of $300 a month, you may be thinking that they will have to lower the price to get your payments that low but in actuality, it may be that they have to raise the price to make your payments $300. The after member the car dealerships are in the business of selling cars at as high the prices they can because they are in a very competitive business and every customer counts when it comes to the bottom line. So put your focus on the price of the car first, then the payments will fall in line and maybe better than you expect.

To get lower payments, not only do you need to have a good price on the car, you also need to have good interest rates which can affect your payment tremendously. You can save money by checking online and getting approved for a reputable lending service.

Generally speaking, you can get a $10,000 car for $300 a month, depending on what your interest rate is and how long the cars financed for.