 how-to-get-a-car-loan-with-bad-credit
 Financing a car can feel impossible when you have bad credit. Fortunately, there are some ways to turn this around. Below, we'll show you how to qualify for a bad credit, car finance loan - despite having poor credit history. You may also contact the South Colorado Springs Nissan finance department for more information.
GET A COPY OF YOUR CREDIT REPORT
First and foremost, get a free copy of your credit report. Getting a copy with reports from all three bureaus is recommended. For the most part, you shouldn't run into any financing issues if you have a credit score over 600. If this isn't you then keep reading to learn more about other potential options that you may have.
GETTING APPROVED FOR A CAR LOAN WHEN YOU HAVE "BAD CREDIT" USING A CO-SIGNER
If you have a close friend or relative with great credit, ask them if they'll cosign with you on your loan. More times than not, if you have a solid cosigner there with you, you'll be driving the vehicle off of the lot in no time at all. In short, bad credit auto loans become much more attainable if you know someone with amazing credit.
BUDGETING YOUR FINANCES CORRECTLY FOR YOUR PAYMENTS
As a customer, make sure that you don't overstretch on what you can afford. If you focus solely on the monthly payments rather than the bigger picture, then you'll likely overlook the fact that you're spending an arm and a leg in interest. As a general rule of thumb, if you can afford your car payment, insurance payment, and any other maintenance expenses each month, then you shouldn't have any issues paying off your vehicle. Use our online "Car Payment Estimator Calculator" to research the monthly payment you can afford.
OTHER SOURCES FOR BAD OR NO CREDIT CAR LOANS
Believe it or not, there are individuals who are able to pay for their new or used car with their credit card. And in some ways, a credit card loan does make a lot of sense, especially when you don't qualify for a regular loan due to your poor credit. Just remember that this will only work if you have a high enough credit limit on your card. If you take this route, be sure to pay off your credit card as quickly as possible.
WORK ON FIXING YOUR CREDIT
Perhaps the best thing you can do is to continue working on repairing your poor credit. You'll be surprised by how quickly your credit rebounds once you start making payments on time and in full. Did you know that you may qualify for refinancing on your auto loan once you've established a better credit score?
While it won't happen every time, it can make your monthly payments more manageable later on down the road. In the meantime, work on paying off all bills in a timely fashion. These can include cell phone, electricity, and Internet bills, all of which likely get reported to credit bureaus.
WHEN ALL OTHER CAR LOAN SOURCES FAIL, YOU CAN ALWAYS TRY A CREDIT UNION (IF YOU BELONG TO ONE).
Your local credit union may or may not be able to provide you with a way of financing a vehicle with bad credit. Remember that credit unions are designed to serve their members, so chances are good that they'll be able to keep interest rates low. But as long as you continue working on improving your credit score, you shouldn't run into any issues getting financed for the vehicle of your choice. Use our Online Car Finance Application today.
