When you do not have a car but need one badly, at times it can feel like getting your own set of wheels is all that you can think about. This is especially true when you find yourself bumming a ride from a friend or walking home from the grocery store with five large bags full of food dangling from your arm – one with the a bunch of celery half-sticking out and about to fall. Not your proudest moment.

Of course, it gets even worse when you need to go on a date or visit family but don’t have the wheels to do so. And, not to mention situations like medical emergencies when having a car could come in really handy, to say the least.

If you are car-less, you have no doubt tried to get funded for a car loan, but time and time again have been rejected due to your bad credit history. This is an extremely frustrating experience, especially when you know that you are a credit-worthy person who would be able to take out any car loan that you took on at this point in your life.

If you are looking for a bad credit history car loan, here are 5 tips for getting funded. If you follow these 5 tips, there is no good reason why you will not be able to get approved for a car loan:

1. Consider a used car:

When you fantasize about your ideal set of wheels, at this stage of the game you have probably already given up the idea of buying a high-end Mercedes, Cadillac, or Audi. Still, you may still be setting you sights just a bit too high on a new car. A suggestion: it would be wise to put off your dream of buying even a mid-range new car at this point. Instead, get yourself a used car and start building your credit score back up by making timely payments. Your new car is out there somewhere – it’s just probably a little further down the road than you may have hoped.

2. Choose a reasonably-priced car:

Even among used cars, there is a huge range of prices in available vehicles. The lower the price of the car you choose, the better your chances of scoring a bad credit history car loan.

3. Save up as much as possible for your down payment:

Another way to decrease the amount you will need to borrow – thereby greatly increasing your chances of landing an auto loan – is to save up as much as you can for a down payment. The more you put down on the car, the less you will need to borrow.

4. Search for at least 5 bad credit auto lenders:

Okay, now that you have done everything it takes to reduce the amount you will need to borrow for this car, it is time to get the right strategy together for going after a lender who will be extremely likely to approve your loan.

As you know, expanding your options always makes for better chances of getting what you want. It’s the same thing with auto lenders. So, do an online search for “bad credit auto lenders” and look for resources whereby you get access to lots of lenders who are ready to lend you money now – precisely because they specialize in working with bad-credit individuals.

5. Be prepared to explain any problems in your credit reports:

When you apply to the auto lenders (be sure to apply to at least 3 of them), make sure you are prepared to provide an explanation for any problems or issues that show up on your TransUnion, Experian, or Equifax credit reports. Sometimes, a little explanation can go a long way in getting approved.

Try these 5 tips and you will greatly improve your chances of getting that approval you so badly want and need. It’s almost guaranteed.

Author Bio: Get a list of bad credit auto loan lenders in your area at: Bottom Rate Used Car Financing.

Category: Finances
Keywords: Bad Credit History Car Loan,5 Tips for Getting Funded