Bad credit auto loan lenders can be found in Georgia or anywhere else in the country. You do need to choose carefully, though. Some will overcharge you in interest rates and fees. Others may promise to approve you then not do it. Still others are more of a fly by night type who may not be around when you need help.
The phrase bad credit auto loan lenders can cover a variety of institutions. It may refer to the lenders themselves, such as banks, credit unions and finance companies. More often, it refers to auto dealerships, who either work with these lenders, or have in-house financing (buy-here-pay-here.)
All of these types can sometimes get you approved. For instance, if you have been a long time member of a credit union, they will sometimes be a bit more flexible because they “know” you. This also may apply to some banks, especially community banks, who you have done business with for a long time.
Finance companies often have a fairly low threshold for financing, but usually have very high interest rates and/or fees associated with loans. Similarly, a buy-here-pay-here lot will often finance almost anyone. However, their interest rates are extremely high and your selection is very limited with this type of lender, leaving them as a last resort.
Best Bets for Bad Credit Auto Loan Lenders
If possible, you should choose a reputable car dealership who will work with your credit situation. For example, at Dan Vaden Brunswick, we work with all types of credit customers, including those with bad credit.
Working with a reputable dealership such as us has several advantages.
- Our reputation goes a long way
- We have a large selection of vehicles to choose from
- We have lots of experience in working with bad credit situations
- We have relationships with many lenders who are willing to help
- We actually want to help, and will go out of our way to do so
When you are looking for bad credit auto loan lenders, you should consider us first. Give us a call or contact us today and find out how we can help.