Bad Credit Auto Loan Choices

Posted by admin in Loans on 11 4th, 2009 | no responses

There are a few choices available if you are looking for bad credit auto loans. While many car sellers have started providing auto loans only for “well qualified” applicants, there are plenty of other sources for auto loans, even if you have poor credit.

Many people would be surprised to find out that they may be one of those well qualified  applicants that are so important to auto loan companies. Typically, a good credit score for an auto loan is between 650 and 700. A stellar credit score is anything between 700 and 720. The average credit score in the United States is 680, so you may be able to get better auto loan terms than you may think!

Even if your credit score is far below 680, you can still find bad credit auto loans. While these loans come with higher interest rates, they are often the only real option for people with poor credit and a need for a new car.