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Bad credit auto loans

When you have les s the perfect creit score it might be difficult to get a auto loan with a low apr or even a loan at all.
The things you could do to get a auto loan when you have bad credit come down to this

•    Rebuild credit
•    Co sign
•    Local Credit Union
•    Apply thru a dealer

-    Rebuild credit
Seems obvious but your priority when you have a bad credit score is to work on getting a better credit score. A way to do this is buy a car with 15-20% down settle for the high apr and make sure to pay all monthly payments and after 18 months trade the car in. Go for a cheap car and do not overextend your budget on this car.

-    Co sign
When you can get somebody to cosign the loan the apr on the loan will be less then when you apply for it on your own. That person has to realize tho that co-sign means that if you do not pay your debt that person will have too. They are co-owner of the debt. To get the best apr on the loan it is the best thing that the co-signer appears as the first buyer of the car. Otherwise the apr is still at skyhigh levels due that you have a bad credit report.

-    Local Credit Unions
Getting a loan with a normal(low) apr when you have bad credit is not easy but a place to look is at your Local Credit Union. They have programs that might help you in getting a loan with a good apr and it will help you improve your creditreport.

- Apply thru a dealer
Be very!!! Carefull for this one. There are stories of people applying thru a dealer that get a great loan with a low apr and the reason is most likely the dealer needed to sell the cars on stock. But there are even more stories of people getting stuck with loans of 24% apr.