There is always more than one way to get things done. This is true whether you are trying to paint a house, mow your loan, get a job, or decide which movie you will see tonight. It is also true when it comes to successfully applying for a car loan: if you have been doing the same thing over and over but not seeing the desired results, it is time to take a different approach.

When you have a good or an excellent credit score, applying for an auto loan can be a pretty straightforward process: you walk into the dealership, pick out the car you like, take it for a test drive . . . and before you know it you are driving away from there with the car you wanted and at the right price.

However, when you have a low credit score, the entire auto-buying experience can be another matter altogether. It is not uncommon for someone with a credit score under 600 or even under 650 to get rejected for an auto loan or to receive offers for loans at very high interest rates. It is enough to make for a very frustrating and time-consuming process – just to get the car you want.

If you have a low credit score but need a car and are saying, “Accept my application!,” car loans for bad credit drivers are not as hard to qualify for as you think. Here is how to do so in 5 easy steps:

1. Learn how to spot the right type of lenders:

If you have been rejected one or more times recently for an auto loan, it is likely that you are not identifying and approaching the right kind of lenders. Remember, you do not have to get your financing through the dealership where you plan to buy your car. You can also get a pre-approval letter from another lender or bank and then go to the dealership. You are going to want to find lenders and banks who say that they specialize in working with bad credit auto buyers.

2. Take the time to build up a list of candidate lenders to apply to:

Once you are on the trail of the right type of lenders, next it is important that you put together a list of at least five of them before you start applying. Why go to all of this trouble? Because it just may be that the last lender you apply to for a loan is the one that offers you the very-lowest interest rate by as much as a point or two – which could mean thousands in money savings.

3. Know your own credit situation when you walk through their door:

Spend a few minutes going online and running your credit report. Make sure you pull your reports from all 4 of the major bureaus, including Innovis, Experian, Equifax and TransUnion.

4. Be smart about the car you choose:

Set your sights on a car that is nice and meets your needs, but that comes with a low price tag. The less you want to borrow, the easier it will be for you to qualify for a loan.

5. Do not agree upon a car price until you have gotten a pre-approval letter:

When buying from a dealership, do not agree upon a car price until you have in your pocket a signed pre-approval letter from the dealer’s finance office. Otherwise, they may try to manipulate the interest rate based upon the car price you agree to.

Take these 5 steps and you will greatly improve your chances of getting your auto loan application accepted, even if you have a bad credit score.

Author Bio: Get access to more bad credit car buying tips and lending resources at: Bad Credit Car Buying Tips.

Category: Automotive
Keywords: application loans for bad credit, apply for a bad credit auto loan, bad credit car loan, application