Need an auto? Credit is easy to get!
It’s easy to find the best car loan available when you apply at Car Deal Expert. Comparison loan-shopping is what we do, and we do it very quickly. In our network of online lenders, we have reputable and experienced companies specializing in everything from RV and yacht loans to new- or used-automobile loans for people with bad credit. When you let Car Deal Expert do the loan shopping for you, all you have to do is fill out one application.
You could spend all day searching online, filling out applications, and making detailed comparisons, or you could let us do the work for you in just seconds. There’s no cost or obligation. We put you in direct contact with the lender whose loans best meet your needs, and then it’s up to you to decide whether or not to accept any financing offer. Once you’ve got a loan approval from one of our online lenders, you’re ready to go out and shop for the car of your choice.
If you need an auto loan, credit is available for most situations
No matter what kind of vehicle you’re planning to buy or what kind of credit score you have, we can help you find the best loan available. We even have lenders who can finance vehicle purchases for people who’ve had bankruptcies, home foreclosures, vehicle repossessions, and wage garnishments. Having bad credit, however, doesn’t mean that you must blindly accept whatever financing gets thrown your way. The competition among online auto lenders for high-risk, bad-credit borrowers is intense. That’s good news for anyone with bad credit, because competition helps keep interest rates low.
Don’t misunderstand: If you have bad credit, you’ll pay more for any kind of financing — whether it’s a mortgage, a credit card, or a car loan – than someone will good credit will. But you don’t have to pay an arm and a leg, and that’s where we come in. At Car Deal Expert, we analyze the loans offered by our entire network of auto lenders with your specific needs in mind. We find the loan that costs the least, based on your individual qualifications and borrowing requirements, no matter what those qualifications and requirements happen to be.
Minimum lending requirements for auto loans
Whether you have good credit, bad credit, or no credit at all, whether or not you have a down payment or trade-in vehicle, and whether you’re hoping to purchase a vehicle or refinance the one you have now, lenders have minimum requirements that you must meet in order to obtain credit. Minimum requirements vary from lender to lender, but all of them will require that you be a US resident of legal age with a valid social security number.
Generally, lenders have minimum loan amounts and some basic requirements concerning the age, condition, and mileage of the vehicle. Some lenders require cosigners for borrowers who have no credit or extremely low credit scores. Other common requirements include minimum times for residency and employment and minimum monthly income. If you’ve had a bankruptcy or vehicle repossession, many lenders will require that the bankruptcy case be closed or that the repossession occurred more than 12 months ago. Auto lenders also typically require that you provide personal references and that you have a valid driver’s license and an existing bank account.
Get an online loan preapproval before you shop for a car
Getting preapproved for an online auto loan before you shop for a car gives you several distinct advantages. Having a loan preapproval in hand makes it easy to analyze dealer financing offers. Generally, dealer financing is costs more in the long run, but with an online preapproval, you’ll know for certain which way to go. Also, when you walk into a dealership with an independent loan preapproval in hand, it’s easier to get a price concession from the dealer. Similarly, when you have your own financing, a dealer is less motivated to try to sell you a vehicle that you cannot as comfortably afford.
Car dealers add markups to the financing they offer, just as they do to the cars they sell. When you’re preapproved for a loan in a decided amount, dealers won’t push so hard to get you to accept more expensive financing or to sell you a car that costs more than your approved amount. You’ll save yourself a lot of time, hassle, and money, as well as increase your negotiating power at the dealership, by applying at Car Deal Expert today.