back to articles | September 04, 2019 | Dale Peterson
Categories:   Auto Loans & Financing    Consumer Credit    Loan Calculators & Rates    Types of Car Loans    The myAutoloan Difference
Bad Credit Won't Stop You From an Auto Loan
It is possible for anyone to have a low credit score. In many cases, an unexpected job loss or medical expense makes it difficult to keep up with mortgage, student loan or other debt payments. However, this shouldn’t automatically disqualify you from getting reliable and affordable transportation.
We Work With Everyone Who Needs Financing
Whether you have great, average, bad or subprime credit, we can help you get the financing that you need in a timely manner. When you apply for an auto loan with us, we will return up to four different offers from national lenders that you can compare at your own pace. Once you decide on a loan offer that fits your needs, you can finish the application process by choosing a lender that is direct to you and get the vehicle that you want or need. Having choice is a huge benefit that can’t be overlooked.
We Look at You As a Person Instead of a Number
Your credit score is one of the most important numbers that a lender looks at when determining who to lend to. However, our lenders all realize that you are more than just your credit score. No one chooses to get sick or chooses to get laid off by their employer. Bad things happen to good people, and that is just a fact of life. Furthermore, no one can predict when they will need to see a dentist or when the roof of their home will start to leak. When you work with a direct to consumer loan provider, like myAutoloan.com, you are treated like a person who needs help to get past any prior unfortunate circumstances.
Pay Less With a Direct to Consumer Loan
When you work with a dealer or other middleman to get an auto loan, you can be sure that there is going to be markup. You could be charged origination fees, document fees and any other fee that the dealer or other third-party can pass along to you. This could add hundreds or thousands of dollars to your loan, which could make it harder to pay off in a reasonable amount of time. Going direct to a work with a lender is the least expensive way to get a car loan. Check out our calculator to see what you could afford.
Start to Rebuild Your Credit With a Bad Credit Auto Loan
A bad credit auto loan can help you get back on the path to having a good credit score. When you make a payment, it is reported to credit agencies. If you can string together multiple on-time payments, your score could go up to by 100 to 200 points in a matter of months. The exact increase to your score depends on what your credit profile was when you first took out the loan. However, as a general rule, most lenders pay the most attention to credit activity that has taken place in the last 12-24 months. So get going and make things happen for yourself – good things buy being on time with your payments and see what happens!
There are many reasons why your credit score is lower than you would like it to be that have nothing to do with irresponsible spending habits. By working with a direct to consumer loan provider that has multiple platform based lenders, you can get the car that you want at a price that you can afford regardless of your credit score.