If you have a poor credit score, you may think that getting an auto loan out of the question, but that’s not the case and especially in 2013. While it is true that many traditional lenders aren’t providing money to poor credit score holders, there are some that are now beginning to do so thanks to the economy’s gradual recovery.
More importantly, however, is the fact that you don’t even have to rely on traditional lending in order to raise money to buy a car anymore, since car title loans provide a safe, reliable way for people with poor credit to get auto loans. If you’re looking to buy a new or used car outright, or if you need help raising money for a down payment on one, then give us a call today!
Car Capital Financial is a leading Southern California auto title loans company with over 15 years of experience helping people just like you raise money at quick notice. We can get you the cash you need today, in as little as 30 minutes from receiving your call at 1-888-500-9887.
How to Get an Auto Loan if You Have Poor Credit
If you want to get a traditional car loan (as in getting a loan from a company that specializes in providing loans for financing new or used cars) then you may be able to increase your chances of getting your loan approved by taking the following steps:
- Try to Boost Your Credit Score Rating – This is the most obvious but also most important suggestion. Getting auto loans with poor credit are possible but can require a lot of research and time, so the easiest way to boost your hopes of getting a loan approved is to improve your credit score ASAP. Perhaps your credit score is down because of a certain bill you need to pay or you simply haven’t paid off your credit card balance in a couple of months. Whatever the cause is, create a plan of action to begin paying off your debt, and once you begin paying it off you could easily see your credit score quickly begin to recover.
- Look for Companies That Specialize in Poor Credit Auto Loans – A quick online search will reveal a plethora of companies that specialize in awarding auto loans for people with bad credit. A drawback of having bad credit is that you are likely to be charged a higher interest rate from a traditional lender, but it may be worth it anyway.
- Explain to Lenders Why Your Credit Score is So Low – Is your credit score low because of one unexpected event? Did a huge medical bill or another financial emergency wipe you out? If your credit score has usually been either good or at least decent and has just been affected because of a single high costing incident, a lender may be sympathetic and more trusting in lending you the money. Once you’ve explained why your score got so low, make sure to emphasize that you have a plan to pay off your debt and that you are not being irresponsible with your finances.
- Get a Co-Signer Who Has Good Credit – You could get a co-signer for your auto loan that has good or outstanding credit, which could help counteract the damage your poor credit score has on your loan application. Choose someone who you can definitely trust and vice versa, and he or she could dramatically increase your chances of getting your loan approved and being awarded a fairer interest rate to boot.
Title Loans as Auto Loans for People with Poor Credit
If you don’t want to borrow money from a car financing company or if your credit score is so dire that there’s no way you’d ever get approved then you should consider taking out a car title loan on your existing vehicle.
To get a title loan, you’ll trade temporary ownership of your car’s title for access to immediate funding (usually in the form of cash), which you’ll be able to pay back in increments over an extended period of time.
With a title loan from Car Capital Financial, you’ll still be able to drive and use your car as much as you want, however, making it a great way to raise cash without having to sell, pawn, sacrifice the use of or access to your car.
Financing a new or a used car can be very tricky, especially if you have a very low credit score rating. Fortunately, Car Capital Financial can make auto loans to anyone, regardless of credit score, but better yet, we don’t charge higher interest rates to those with poor credit!
Title loans are an excellent no credit check loan option and could give you the break you need when trying to get approved for a poor credit auto loan.
Why Car Capital Financial?
If you are looking for a title loan in California, choose Car Capital Financial. We have over 15 years experience in awarding title loans to residents from Orange County, San Diego, Los Angeles and Riverside County. We specialize in delivering fast, reliable and affordable car title loans.
Bad credit score? No problem! We don’t care what your credit score is. In fact, we won’t even ask you for it or try to check it. Choose Car Capital Financial for a title loan that you can count on and you could get the cash you need in as little as 30 minutes. Title loans are issued based on your ability to repay the loan.
Call us now at 1-888-500-9887 to get your money today!