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Here at Federal Auto Loan, we’ve built one of the largest networks of lenders and dealers across the United States. The dealerships we work with specialize in helping people with poor credit get financing for the new or used car they need. If you’re looking for a lender or dealer that can help you get a bad credit car loan… or just an auto loan that you can afford… then you’ve come to the right place.
Despite the fact that many people are familiar with what bad credit means… not everyone has a firm grasp on what bad credit car dealers are or how they operate. That being said, the question of “What is a bad credit auto dealership?” isn’t too difficult to answer. Put simply, most banks, credit unions, and other major lending organizations tend to only lend to customers with ‘prime credit’. Unfortunately, this leaves a significant number of people who desperately need a car, but have poor credit, left out in the cold.
To cover this gap in lending, many dealerships have established relationships with sub-prime lenders or have begun offering bad credit auto loans through an in-house financing department. It should be noted, however, that since the risk of financing to people with bad credit tends to be higher, these dealers tend to charge higher interest rates to offset that risk.
That beings aid, the advantage to all of this is that people who might not be able to get into a car are able to finance one and start improving their credit situation through timely payments—even if the trade-off is a bit higher.
At Federal Auto Loan, we have a network of lenders and dealers for nearly every credit situation. To-date, we have helped over 1.5 million people through our service. This is a number that we are very proud of. We are able to do this because we fully understand that people are more than just their credit score. And we know that sometimes life just happens. Because of this, we have made a commitment to helping people get into the seat of a car regardless of their credit situation.
The bad-credit process varies dealer to dealer and the loan process is one that many do differently. Some dealerships, unfortunately, are not very flexible or understanding when it comes to assisting customers who have complicated credit situations: past bankruptcy or repossession. You might receive limited help and end up spending much more time rebuilding your credit before you can get the financing you need.
Luckily, other dealerships, have been in the bad credit car dealer business for a while. Many of these businesses are among the 1000+ dealerships that Federal Auto Loan works with on a daily basis. However, because they are typically independently operated and have specific programs and inventory targeted at specific buyers, finding the one that will work best with your situation is where we can help.
Here at Federal Auto Loan, it’s our job to help people understand and get through the bad credit car buying process. Using our national network of partnered dealerships throughout the United States, we can assist you in working through your credit quirks, and set you up with a dealer that is ready to get you on the road immediately. With our help you won’t have to worry about being bounced around or shown the door.
Fortunately, because the majority of dealerships and lenders report your payments to major credit bureaus, you will be on your way to rebuilding your credit so that the next time you buy a car, you can take advantage of improved rates and have upgraded options.
So, if you’re serious about getting your car credit back on track, you can begin now with the first step: fill out our online auto loan request form.