To a lender your credit score reflects how much trust they can have in you.  A high credit score means that you pay your debt month in and month out. And you do it on time. A poor credit score means that you can’t necessarily be counted on to pay your debts or your payments are spotty or late. Obviously, those with high credit scores get the best interest rates on their loans. Car finance with poor credit is still possible. Many lenders specialize in lending to those with bad credit.

Look for loans for car finance with poor credit online. This is one of the best places to find lenders who are willing to work with bad credit and still offer competitive rates. Usually those with poor credit are also expected to have a bigger down payment. Look out for dealers who want to finance those with poor credit. They often inflate the price of the vehicle and fees and end up making it cost a lot more for you. It is best to go to a lender first to avoid this problem. Showing your lender that you are taking steps to improve your credit rating can do a lot too.

If you have some time to do a little repair to your credit this will go a long way in increasing the trust a lender might have in you. Do some debt counseling, consolidate, or show that you can make on time payments for a while. Paying off some debt can dramatically change your credit. If that is not feasible, pay more than the minimum amount due. Cutting down your overall principal debt improves your score. Too many creditors can also be a problem for car finance with poor credit, even if your credit is good.

Consider also the type of car you want. Some online lenders have restrictions on where you can get your car or what kind of car you can get. Though this is limiting, it may be helpful in helping you choose a car that will fit into your budget and credit. Car finance with poor credit might mean that you need to select a car that isn’t your first choice. On the other hand, sometimes monthly payments for new cars are less than used because the dealer may finance the car with poor credit in mind.