Bad Credit Scores and Auto Loans

Posted by Ryan on August 26th, 2019

There are so many things which can make getting an auto loan complicated. One of them is having a bad credit score. However, most people find a way to offset this issue by making their down payment much more than they are made to pay. So what happens when you have a bad credit history and no money to put down for a car loan? Is it possible to work something out?

The truth is that most lenders or financial institutions would often go for a good credit score. If that is unavailable, their next line of action would be to go for down payment. If those are not available, the truth is that you would probably not be accepted by any financial institutions.

Your best bet would be to go to non-profit organizations. This includes organizations such as credit unions would be ready to assist their members with loans that would be paid back. However, most of these credit unions would only afford you this opportunity if you are a member of that union.

If you find out that there is no way out, here are a few things which you can do to make sure you qualify for a car loan soon;

  • Credit score: try to make sure that your credit score is as good as new. There are many habits which can help you achieve this. One of such habits would be making sure that you pay all your debts on time. Also, ensure that you do not leave any credit obligations hanging for so long. It is important to remember that credit scores that are on the high side would result in lower interest rates and vice versa.
  • Save: your credit history is just too hard for you to revive? Another option which you might have would be to save for a down payment. It is important to bear in mind that when you have a down payment that is way bigger, you would be able to get the attention of the lender and make your application much more appealing.
  • Online: most people have found car loans online very useful. If you find yourself in this situation, you can apply to these car loan dealers online and get pre-approved. This would surely help you to work things out as regards the purchase of the car.


Not having a good credit score and no down payment is pure utter rotten luck. However, there are still certain options which are open to you. These options would ensure that you get to enjoy your car loan no matter the circumstances. No bad credit score can stop you from achieving your goal. Find out more at

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Joined: August 5th, 2019
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