There are several financing companies that will help you get a car, even if you have bad credit. By taking advantage of getting a bad credit car loan and making payments on time, it can help you rebulid your credit and provide you the freedom that comes with car ownership. Here's a few of the best car loan options for bad credit.
CarLoan.com is operated by the Interactive Financial Marketing Group, LLC located in Richmond, Va., which has been around since 1989 and accredited by the Better Business Bureau (BBB) since 2003 and currently holds an A+ rating.
Applying online at CarLoan.com takes about a minute, and most approvals happen within 48 hours. Basic requirements are: you must be 18 years old or older, have a monthly income of $1,600 or more, and have a steady job and place of residence.
FundingWay.com is run by Auto Credit Express, which achieved BBB accredidation in 2004 and holds an A+ rating. They will base their loan decision not merely on your credit score, but will take a broader look at your situation.
Basic financial requirements include: $1,500 gross montly income for credit scores less than 625, all bankruptcies should be discharged, must be older than 18 yers and a U.S. resident, and you must purchase an automobile from one of their car-dealer partners.
Auto Loan Solutions
Auto Loan Solutions also holds a A+ rating with the BBB. They are partnered with a wide selection of automobile dealers across the United States, and have a simple secure online application that is processed immediately.
Gross income requirements at Auto Loan Solutions are a bit higher than the other options, at $2,500 per month; but they can offer stability and a second chance that many with bad credit need.