What are the Requirements to Qualify for Bad Credit Auto Loans at Car Dealerships?

There are many people who want to finance a vehicle through a local car dealership, but are unsure of how these lenders handle bad credit auto loans. The truth is that most car lots have a subprime financing program in place to help them cater to people who have low credit scores. These are not "buy here pay here" type dealers who focus on financing used cars with no credit check, as AutoNet Financial® only works with local auto dealers with bad credit financing and has done so for the last 21 years.


Our nationwide auto financing services has some of the best dealerships that offer poor credit auto loans and other vehicle lending programs made especially for car buyers with damaged credit score problems and subprime auto loan requirements.

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Car Lot Requirements with Bad Credit Car Financing

Car Lot Requirements

People who have bad credit scores and need a new or used vehicle should know that auto dealer financing is a more complex process. There are a several requirements that dealerships have in place to determine which customers qualify for car loan approval, such as:

Individuals who are able to meet these requirements have a chance to qualify for a vehicle loan with our bad credit dealers after completing our quick auto finance application.

How Does Employment Affect Special Finance Loans?

Employment and Special Finance Loans

Being employed makes it very easy to get approved for poor credit car financing, truck loans or special finance programs; with any credit score problems or finance history. Most car lots want to feel comfortable in knowing that a borrower has the means to make timely payments on their loan. This usually means providing a W-2 form as proof of steady employment for any period time.

People who don't receive a W-2 form or are without a job, but still producing a consistent income, will need to provide other means of proof. This typically means using a bank statement or any legal documentation that can confirm the existence of special payment method (i.e. social security, alimony, child support, etc.)

The Importance of a Good Monthly Income

Good Monthly Income

Many dealers that offer auto loans for people with bad credit scores want them to have more than an everyday job. It is important for applicants make an adequate amount of money with their gross monthly income. That is why we ask car buyers with financial problems to at least make an easy $1500 before taxes to get same day auto financing loan approval and simultaneously start to re-establish their credit history.

By having a gross income of this magnitude a local dealership will feel more confident in a person's ability to repay their loan each month. Some consumers believe that lenders are willing to finance people with lower incomes and better credit history, but this is not true. A person's credit score is very influential during the loan process, but it cannot lower the cost of the vehicle or the monthly installments. This can only be done by making a much larger down payment .

Why Should You Have a Quality Down Payment?
Down Payment

We want our customers car financing experience to be positive, quick and hassle-free. This often comes at the price of making a down payment, which can give people the power to lower their interest rates, monthly payments, and help with getting approved. Our goal is to help you find car loans with bad credit scores while working together so that everyone benefits from their involvement.

A dealership lender prefers to see applicants with low scores make a down payment, as it's a sign that you're equally invested in the loan agreement. Typically, those who place money down or offer an equity trade-in are characterized as people who will make timely payments on their loan and be a great borrower.

We have 21 years of practice in special finance and work directly with special finance car dealers and the leading automotive financing lenders throughout all of North America. The knowledge and expertise we have gained through years of low credit vehicle loan financing enables us to give you the best assistance possible for your personal situation.

AutoNet Financial is different than most online bad credit car loan companies as we offer free auto loans and credit services.