Best Answer

Auto financing for bad credit means getting a loan for a car when one has bad credit. There are companies that specialize in giving loans to those with bad credit ratings.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What does auto financing for bad credit exactly mean?
Write your answer...
Still have questions?
magnify glass
Related questions

Secured Auto Loans Financing For People With Bad Credit?

If you are a looking for financing to buy a car but your credit history is bad, it may be difficult to get approved for by the traditional lenders. However, this does not mean you cannot entirely get financing. With increased competition in the auto financing sector, lenders have come up with solutions for people with bad credit. To easiest way to get financing with bad credit is to provide collateral for amount you are borrowing. The common forms of collateral accepted include house equity, property and business shares. If you have collateral, you can easily get approved for a bad credit secured loan.

How to Choose an Auto Financing Option?

If you are in the market to purchase a new or used car, you might not have the cash on hand to pay for the vehicle up front. It is perfectly normal and acceptable to look for an auto financing option instead of paying cash for your vehicle, but you should be careful about the auto financing option that you choose. In many cases, you could end up spending far too much on the vehicle than it is worth, so you want to make sure to choose the best option for you and your financial situation.If You Have Bad CreditIf you have bad credit, you might not think you will be able to find an auto financing option at all. It is true that it is often difficult for people with bad credit to find loans and financing options, but this doesn't mean that you should give up on being able to purchase a car without paying for it up front. You will need to be prepared to pay a higher interest rate and a little more on your down payment, however, but you will still be able to purchase the vehicle that you need if you assess the right auto financing options for people with bad credit.Some lenders will still approve you for auto financing if you have bad credit, so you should consider talking to local dealerships about the financing options that are available for you. If you can't get auto financing in this manner, you can always look for a car dealership that offers on the lot financing. Although this can sometimes be a costly means of auto financing, it can be a good option to have if you have bad credit but are in desperate need of a vehicle to drive.If You Have Average CreditIf you have average credit, you shouldn't have a difficult time finding an auto financing option. Most dealerships will work with individuals who have average or moderate credit, and you may even be able to get a good interest rate or a low down payment.If You Have Good CreditIf you have good or excellent credit, you shouldn't have a difficult time finding an auto financing option that is right for you. Since you can be more choosy, you shouldn't settle for a high interest rate or down payment; instead, look for terms that are suitable for you.

Applying for RV Financing With Bad Credit?

Just because you have bad credit doesn't mean that you don't deserve to purchase a nice recreational vehicle for yourself and your family. Although it can be difficult to get RV financing from some dealers and lenders if you have bad credit, a low credit score does not necessarily mean that you won't be able to find RV financing on the recreational vehicle that your family wants. Simply look around for dealers that advertise that they provide RV financing for those with bad credit. If you are unsure of if you qualify or not, feel free to ask for a quote and to speak to someone from the company. You might be surprised by the RV financing offers that you might qualify for.

What does insufficient credit history mean?

You have not established any credit, such as a credit card, auto purchase so nothing is going to show on your credit history.

Credit To A Loan?

In order to get auto loans, you need to have pretty good credit. With banks looking more at the credit someone has, a good credit score will mean a better auto loan for you. There are still some auto dealers who will give you a loan on a car if you can provide proof of income. An auto loan has lower interest rates than housing loans, and they are easier to pay back. You have more flexibility with auto loans as well.

What does a 667 credit score mean?

I dont know what exactly 667 is but a credit score is rated on how good your credit/debit card use is, EG: your credit score is Good

How can you get a loan for breast implants if you have bad credit?

Just because you have bad credit doesn't mean you cant want to improve yourself. Seriously there are many places you can look on the internet that offer financing..

What does LOS mean relative to vehicle financing?

A loan origination system, or LOS, is the software application used by an auto lender to manage the loan process.

What does cowboy financing mean?

Unruley or risky financing procedures.

Where can one obtain home financing with bad credit online?

Your local real estate broker can probably help with this. Since this is a serious issue, it is best to find someone in your own neighborhood rather than someone in another state. Financing a home with bad credit will probably mean a more expensive down payment.

What does yield mean in financing?

Yield is the profit (or sometimes the loss) resulting from financing an investment.

What credit agency is most strict?

I don't know exactly what you mean by "strictest", but Experian gives me the lowest score.