If you have poor credit, you may be wondering where you should go for financing. Many traditional dealerships have subprime lenders that specialize in bad credit car loans. But, if your credit is really bad, you may not qualify for a subprime auto loan.

Can I Get a Car Loan with No Credit?

Dealerships that Accept Bad Credit with No Credit CheckSubprime lenders have certain requirements that need to be met, and if you don’t qualify, you can be turned down. So, where can you go to find financing if a subprime lender can’t help? You can look for a buy here pay here dealer. Buy here pay here dealerships lend in-house, which means you can sign and drive all in one place.

What makes buy here pay here dealers a great option for credit-challenged car buyers is the fact that most loan to customers with no credit checks required. Instead of your credit history, they use your income to determine what you qualify for. So, be prepared to bring in your driver’s license, proof of income, and proof of residence. Be aware that the types of vehicles on these lots are typically older with higher mileage. Don’t expect to get something brand new, and be realistic about what you can finance.

Another thing that makes a buy here pay here dealer different from subprime lenders is how you make payments. Depending on your pre-tax income and pay schedule, the dealership may ask you to make weekly or bi-weekly payments. What’s important to remember is that, in most cases, you must make your payments in person – so make sure the buy here pay here lot is reasonably close, which makes it easier to make your payments on time. Also, keep in mind that just because these dealers don’t typically report loans or on-time payments doesn’t mean they won’t report missed payments. For most of these dealerships, one missed payment can result in repossession, which drops your credit score.

Find Financing Today

Whether you have bad credit or no credit, as long as you have disposable income you can expect that getting approved for a car loan is easier at a buy here pay here dealer. It isn’t always easy to find one of these dealerships, and if you don’t know where to turn, Drivers Lane can help.

We work with a nationwide network of special finance dealers who have lenders available that are able help people get a car loan with no credit, low credit, bankruptcy, or even repossession. Taking the first step is easy; just fill out our online auto loan request form to get started!