When you have bad credit and need a car loan, finding a dealership that can help you out can be difficult and time consuming. Drivers Lane is here to make that process faster and easier.
Why It's Difficult to Find Financing with Bad Credit
Lenders typically approve consumers for auto loans based on their credit score and credit profile, so most lending institutions won't work with applicants who have bad credit. Subprime lenders, however, look to other qualifying factors and are willing to finance consumers with less than perfect credit.
Still, finding a subprime lender can be a challenge in and of itself because hardly any of them are direct lenders. Instead of working directly with consumers, they sign up special finance dealerships. If you need a bad credit car loan, your best bet is finding a dealership with subprime lending connections. You could call around or visit several dealerships trying to find one, but Drivers Lane offers a faster way.
We aren't a lender, so we won't be extending you a loan. Rather, we're connected to one of the nation's largest networks of special finance car dealerships. When you work with us, we'll match you to a local dealership that's equipped to handle unique credit situations. Here's how the Drivers Lane fast auto financing process works:
1. Complete our Auto Loan Request Form
Step one is filling out the secure car loan request form on our website. It asks for the basic information a dealership and lender will need to get you financed – personal, employment, residence, and contact information. This information allows us to quickly match your request with the guidelines of local dealers and their lending partners.
The request only takes a few minutes of your time, it's free to submit, and it doesn't put you under any obligation to buy, so you can get the process started with confidence.
2. We Set You Up with a Local Dealership
After you've submitted your loan request, you'll be contacted by a representative to set up a time to visit the dealership you're matched with. Instead of spending time and energy hunting for a dealership that can get you financed, our process makes finding one quick and easy.
Our network of special finance dealers spans the entire country, and even includes dealerships in Canada. The dealerships in our network are signed up with a variety of lenders, which means the requirements vary. We'll use your loan request form to connect you with a dealer in your area that should be equipped to work with your situation.
3. Visit the Dealership and Find Your Car
At the dealership, you'll meet with the finance manager to go over your information and what happens next. They'll send your application to one or more of their lending partners to get an approval decision. Any lender who approves you will lay out the loan terms, and the dealer will show you the vehicles in their inventory that you qualify for. Pick the one that's right for you, and you can move forward with the loan paperwork to complete the process.
You can help yourself out by taking some extra steps to prepare for your visit. You should check your credit reports and scores to make sure you understand your credit situation, as well as prep your budget for the purchase. Another good idea is to put together the documents you'll need to bring to the dealership to avoid having to make multiple trips.
The Bottom Line
When you need a car, you usually can't put your life on hold while you try to find financing. Drivers Lane takes pride in making it easier for people to find auto financing in a timely manner. What are you waiting for? Get started by completing our auto loan request form today.