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How We Can Help You with Auto Financing

Bad Credit If your credit score is under 670, it can be hard to get an auto loan through a traditional lender. Our dealers specialize in tailoring plans to get you financed even with bad credit.

No Credit We know how difficult it can be to get a car loan with no credit history. Fortunately, our dealers are experts at helping people like you establish credit with customized car loans.

Bankruptcy We understand the need for a second chance after bankruptcy. Our dealers use lenders who understand this and will create a plan to help you start rebuilding your financial future.

Getting a Car Loan

Explore the process of how to get financing for a car.

What is the Average APR on a Car Loan? The average interest rate for a car loan is currently between 5.25% and 21.55% depending on your credit score. So, if you're looking for a good APR on a car loan, your results may vary depending on your credit background. Your annual percentage rate, or APR, is the interest rate at which you’re charged September 19, 2024

How Old of a Used Car Will a Bank Finance? Banks and other direct lenders have many rules about the vehicles they finance, especially when it comes to used cars since it can be hard to pinpoint their value. A bank typically won’t finance any vehicle older than 10 years, even if you have good credit. There are some exceptions to this rule in February 7, 2025

Car Title Loan Basics: Benefits and Drawbacks of Car Title Loans If you're prepared to repay them quickly, car title loans are a low-interest way to get cash on short notice; but understanding the risk is essential. August 8, 2024

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Learn how a car loan works when you have bad credit.

What Does it Mean to Be a Reference for Someone Buying a Car? One of the requirements that lenders have for bad credit car buyers is a list of five to eight personal references. These references serve as a verification point for lenders, and may or may not be called upon for information. If you're thinking about financing a vehicle with poor credit, you have to December 20, 2024

Auto Loan Denied After an Approval If you were approved for an auto loan, and then later got a letter saying you were denied, there are usually two explanations – one you need to worry about, and one you don't. Often, a dealership contracts with multiple lenders to give them the best chance to get a borrower financed. This can lead November 21, 2024

When Do You Get the Title After You Buy a Car? When you get your car’s title depends on what state you live in, and whether or not you're financing the vehicle. Typically, it takes less than a month to get your title if it's being sent to you. But, if you’re financing, you may not get the title until you’ve completed the loan. Here’s what November 18, 2024

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Car Refinancing

Find out how refinancing may help cut your interest rate to lower your payment.

How Soon Can I Refinance My Car? If you didn't get the deal you were looking for, there's technically no time limit that you have to wait to seek refinancing on your car. However, you're not likely to find a lender willing to take a stab at drawing up a contract as soon as you've driven off the lot. Typically, lenders like to see at May 8, 2024

Auto Loan Refinancing: How Does it Work? Taking out a bad credit car loan is a great way to help you improve your credit score over time as long as you manage it properly. Sometimes, as your loan stretches out in time, it can become difficult to manage for various reason such as a change in your finances or an unexpected hardship. If you need May 8, 2024

Does It Cost Money To Refinance a Car? Refinancing is done to save borrowers money by reducing their monthly payments on a loan such as a car loan or mortgage. The process may not have a flat fee associated with it, but it could cost you in the long run if you're not careful. Refinancing an auto loan takes a few steps and the outcome can May 3, 2024

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How It Works

1. Submit Your Form

Submit a free loan request with no obligation using our secure form.

2. Review Your Financing Options

Our dealer partner will contact you to discuss customized financing options.

3. Find The Right Car

Our dealer partners have a wide selection of new and used vehicles to meet your needs.

4. Drive Away Happy

Rest easy knowing that your financing was specifically tailored for you.

Get Started

Customer Reviews

These Folks are fantastic!

I have now over the course of 10 years purchased three cars with the help of CarsDirect. These folks are fantastic. I will never buy a new car any other way.

- Jay M.

Auto loans and Refinance FAQs

Payment & Fee

Is there a fee to submit a request?

No. We offer a free, no obligation auto loan request process. There is no fee for using our service.

What monthly payment can I afford?

When purchasing a new or used vehicle, it is important to not overextend yourself financially. One of the most effective ways to raise low credit scores is to make monthly payments on time. Experts suggest that you should not allocate more than 20% of your take-home pay toward monthly auto payments. The down payment, interest rate, and term of your loan will also determine how much you can afford to spend on an automobile. As a general rule of thumb, divide your monthly income by 2 to determine your disposable income. Let's say you make $3,000 per month. Your disposable income would be $1,500. From that, you would deduct any monthly payments you currently have. The number left over should give you an estimate of how much you can afford per month.

What interest rates will I be paying on my auto loan?

CarsDirect is not a lender; we do not establish your interest rates. Interest rates will generally vary depending on the amount of your loan, the type of car you are looking to buy, and ultimately your credit report information. After submitting a request form, you will be contacted by a credit processor who will provide you with more specific details regarding interest rates, monthly payments, and other loan terms. There is no obligation to accept any of the car loan terms offered to you.

Will I need a down payment on my car loan?

Depending on your credit status, you may or may not be able to get financed with little or no money down, although if you have some credit discrepancies, a 10% down payment is usually suggested.

Process & Credit Score

Is CarsDirect a lender?

CarsDirect is not a lender. We have the nation's largest network of dealerships specially equipped to help buyers like you get financed even with bad credit.

How do you get me approved with bad credit?

CarsDirect is not a lender; we do not approve or decline loans, but by filling out our secure, online auto loan request form, you are giving us the ability to locate dealerships and lenders that can work with you directly to get you approved. Interest rates are based on your loan amount requested. Additionally, lenders will often take into consideration your financial situation – especially if you have been recently divorced, relocated or laid-off. Lenders consider more than just your credit score when deciding whether or not to extend credit.

Will an auto loan impact my credit score?

A hard inquiry will impact your credit. The good news is that rate shopping within a 14 to 45-day period will generally be reflected on your credit report as a single inquiry.

Do I need to select a car from the assigned dealer?

After submitting a no-obligation auto loan request, we will match you with a CarsDirect partner near you. Your dealer will review vehicles in their inventory that meet your needs.

How fast can I get my car?

On average, auto finance companies are able to process car loan applications instantly, or in less than 24 hours. During this time, be prepared to provide additional documentation such as car insurance, proof of income, proof of residence, and any other provisions required by the lender. Generally, our customers are able to purchase a vehicle within 24 - 48 hours from the completion of the application process with their lender.