Not only will your bad credit not be an obstacle, but your experience of getting a car will also be as seamless as possible, and your new car will be delivered to your doorstep.
As mentioned, your bad credit is not something to worry about with Carvana. True, the prices might be a bit high, but this service will make sure you’re satisfied with its offer, unlike other online spots offering car loans for bad credit.
If you are 18 years of age, are earning $4,000 per year, and have no active bankruptcies, you are eligible to shop for used cars with Carvana. Make sure to use its excellent calculator to see some payment handling options.
Carvana will take your credit history, individual income, and car price into consideration when setting up the sale terms. The terms will also vary depending on your vehicle of choice, but this is sadly unavoidable when buying a car with bad credit.
On the bright side, Carvana gives an estimated APR of 3.90% – %, and your loan can be as low as $1000. The company’s soft inquiry means checking the terms for multiple cars won’t make a dent in your already struggling credit score, leaving you enough room to choose carefully.
Online reviews are mostly kind to Carvana. While some people are uncomfortable with the online process, most are quite happy with Carvana, earning it a score of 3.6 on Trustpilot. The process was deemed smooth, and the Carvana agents handling low-credit car loans were friendly and knowledgeable. The majority of reviewers were happy about making a purchase or sale entirely online, without having to go through the dealership adventure.
Reasons to Apply:
- Fully web-based process
- Low initial prices
- No FICO score limits
Auto Credit Express Review
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Auto Credit Express is the next best place to look for car financing, even though the company won’t be the one offering it, strictly speaking. Instead, Auto Credit Express will connect you with a dealership willing to work with you regardless of your credit. Since its founding in 1999, this company has worked to find low-credit auto loans for people from all walks of life.
Unlike the previous option, Auto Credit Express does not sell cars or loan you money to buy one. What it will do is go through its 1,100-strong network of dealership partners based on the information you entered into its online loan request form. It serves as a middleman between you and your potential car dealer, matching you with an establishment or person nearby who can then make a deal with you for auto financing for bad credit.
Speaking of credit requirements, Auto Credit Express itself doesn’t have any, but a particular dealer might. The company will make sure that you are at least 18 years old, a resident of the United States or Canada, and have at least $1,500 – $2,000 in monthly income. Anything else you bring to the table can only serve to your advantage.
Any other requirements, including those concerning your credit score, are up to the dealership you get matched with. Auto Credit Express states that a credit score of 580 or better means having the best chance of approval for a bad-credit car loan. Still, you’re not out of options if your score is lower than that.
Some of the Auto Credit Express partner dealerships work with people with a declared bankruptcy or who have had a car repossessed before. In other words, it’s improbable your bad credit will rob you of a deal.