Christopher Love

Used car buying with bad credit can be really, really frustrating.

First there’s the approval process. Getting approved on the vehicle you want to buy may or may not happen. Getting the payments you want may or may not happen. You may not be able to come up with the down payment. The dealer may be too pushy in trying to get you to buy a car that you really don’t want.

No one wants to settle.

Fortunately, you can get used car bad credit financing without having to go through the hassle of credit applications and interviews by the dealer finance department. You can in fact, get your own financing! Most people think that just because they have bad credit, that they can’t deal directly with a finance company. Maybe it seems too complicated.

The truth is, that if you want a lower interest rate, lower payments and a bad credit car loan without having to put down a downpayment, you need to deal directly with a loan company. Dealing directly gets you an approval letter that you can take to the dealership and give the finance manager once you’ve chosen the car that you want. The finance manager simply faxes the information about the car to the loan company and the loan company mails the dealership a check. Your interest rate has already been preapproved by the loan company.

You can also use this to buy a car from a private owner. Frequently, the prices of cars for sale by owners in the newspapers and local bargain paper are lower than at car dealerships and no sales tax has to be paid.