Where can I go for bad credit auto financing?
I have poor credit but I want to reduce the amount of inquiries I have for credit while I'm looking for a new car. Is there a lender that I can go to directly to obtain financing before visiting a dealership rather than going to a dealer and having them 'shop' you around to banks?
Public Comments
- First, having multiple queries for car loans in a 45 day period only counts as a single query. Not to worry. Second, you are free to arrange your own financing and bring a check to the dealer. You can try banks, credit unions, and online auto loan companies. Depending on how bad your credit score is, you may not be able to get approved, or you may get approved for a certain amount at a high interest rate. You may need a down payment to make the difference between your approved amount and the price of the car you want. You might be better to get a co-signer who has a good credit score. It's a great way to get a good loan and a way to build your credit back up. Here's an article that might help: http://www.firstcarguide.com/finance/do-i-need-a-co-signer.html .
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