There is a reason why consumers with bad credit rarely get to choose their lender for a bad credit auto loan.
The process
Here at Auto Net Financial, we are in the business of helping consumers with bad credit find a dealer that can get them financed so that they can begin to reestablish their auto credit and improve their FICO scores. We also know that there is a big difference between choosing a bank for a regular car loan versus how consumers get matched up with a lender willing to offer them a bad credit car loan. Here is how both scenarios stack up against each other:
Good credit
If you have good credit – that is, if your FICO score (the most-used credit score) is over 640 or so, depending on the lender – you can shop around at the banks and credit unions in your area to get the best rate possible. As your score increases into the mid-to-upper 700 range, you can also take advantage of special subvented rates offered by the manufacturers to the “most qualified” customers.
Bad credit
If your credit score is below, in most instances, a FICO score of 640, the process is much different. With a score in this range, usually your only choice is a subprime lender that offers bad credit auto loans. There are over 30 national and regional lenders that do subprime car loans. Their lending requirements are all different and, most importantly, very few of them offer a direct lending option. This means that in order to qualify for one of their programs, you have to go to a car dealer that has “signed up” with them.
Locating a dealer
Even if you knew the names of some of these lenders, visiting their web sites would be a waste of time, since the dealers they’re affiliated with aren’t listed. You could also try driving around town in the hopes of finding a dealer that can help you, but you could end up wasting a lot of time and gas plus the embarrassment of getting turned down.
On the other hand, you could go to our web site at www.autonetfinancial.com. Here, you can not only learn about the bad credit car loan process, you can also fill out an application in the convenience and comfort of your own home. With a nationwide network of affiliate dealers that specialize in bad credit auto loans, there’s bound to be one near you that can assist you in reestablishing your car credit.
The Bottom Line
At Auto Net Financial we are here to assist consumers with bad credit in their search to find a bad credit car loan dealer. These affiliate dealers are knowledgeable and will treat you with the same high respect that they treat every customer that walks through their doors. If you have any questions that our web site can’t answer, feel free to call us at the toll free number listed on our site. Our customer service representatives are experienced in automotive special finance and will answer your questions guide you through the bad credit car loan process.
