Car Loans For Bad Credit Instant Approval

Car Loan

There are several car dealers that are willing to refinance your car loan if you have bad credit. I would suggest staying local, so that you can go and discuss your refinance with the car dealers, face to face. Trying to do this over the internet is not such a good idea. It is too easy to get scammed by someone. You want to see the people that you give your vital information to, and read all the paperwork before signing it.
Some companies may try to hike the interest rates up higher than normal, so pay close attention to this. You can ask your present car loan representative what the interest rates are, so that you will have a good idea of what they are, just in case a company tries to hike them higher. Some will do this, probably figuring that you won’t care, because they are giving you the opportunity to refinance. You do not have to settle for this offer if you are not happy with it. That is why it is a good idea to talk to more than one car dealer; usually three quotes will give you a broader perspective.

You will, more than likely, pay a higher interest rate to refinance your car loan with bad credit, but it is still possible to get a loan to refinance if you have bad credit, so don't lose heart. Stay positive, and shop around. Having more than one opinion (or quote) never hurts either.

It is recommended to steer clear of the most popular car dealers, the ones that you see on TV advertisements the most. It is better to go to the less popular ones, smaller dealerships. If you are searching online, you can type things like “bad credit car loan refinance” and add the name of your state to that. I use the yellow pages, and find the ones that are local, as suggested above.

Additional resources:

Car Loans Become a Reality For Individuals With Poor Credit or No Credit
Differing car loan rates for the same car?