Understanding Bad Credit Car Loans
Everybody likes to have good credit, but even for those who are money savvy and have healthy financial habits, that 700+ FICO score can be hard to come by. Bad credit — even just a few points below average — can seriously affect your being approved for the best credit cards, mortgages and even auto loans.
While it's a difficult enough task to rebuild your credit standing, it can be even harder to succeed financially when bad credit stands in the way, especially when it comes to buying a car.
Where auto loans are concerned, bad credit usually rules out the best deals. Fortunately, there are alternatives and plenty of great auto loans for people with bad credit. But beware: they might come with restrictions.
Before you apply for an auto loan, be sure to do your homework. Read up on raising your credit score and getting the best car loan rates possible on GOBankingRates.