"Can the dealership help someone with bad credit get a car loan? "
"I have horrible credit, but I need to buy a car. I was recently denied pre-approval from my bank, but the salesman at the dealership swears he can get me financed. Is he being honest or just wasting my time?
Answer provided by
Answered on May 05, 2021
“Dealerships usually have many lenders that they are used to working with, and in fact they can get financing for a customer who would otherwise not be approved for a loan.
However, if your credit is as bad as you make it sound, you might not want to finance a car as your interest rate will probably make your payments unaffordable. If possible, consider buying a cheap used car with cash. “
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Are two-door cars are more expensive to insure than four-door cars?
I'm trying to decide whether to buy a two-door or four-door Nissan Altima. I've heard that two-door cars are more expensive to insure than four-door cars. Is this true, and if so, why?
Feb 22, 2021
"Do lenders ever forgive car loans? "
I've been having some trouble making my car loan payments. Is loan forgiveness possible?
Apr 05, 2021
"What are my options if my car loan falls through on a spot delivery car? "
"I signed an agreement to buy a car, with the expectation that the dealer was able to provide financing. Two weeks later, the dealer said they needed to rewrite the contract because the financing fell through. All of this does not inspire confidence. What are my options at this point? "
May 05, 2021