auto refinanceing with bad credit?

Answer 1

Here are three places you might try.

The attraction for each of them is that you can apply online, and you will know their answer very quickly. As I am sure you know, there are a lot of variables, such as just how bad your credit is, whether there is any reasonable chance of your car producing some equity in the foreseeable future, your employment situation and so on.

Of course, your rate will be very high and the terms unfavorable, but each of these places has a great deal of flexibility on their credit standards.

If you want to greatly improve your chances of getting a decent refinancing, you should get someone to cosign your note for you. If such a person is available to you, many doors will open up.

Now, in fairness to the person who cosigns, you should make a complete disclosure of your financial situation. Often the cosigner is a friend or relative and I would advise that you not put a good personal relationship in jeapordy by drawing a friend into your financial difficulties if they are significant.


1) Personally I would start with:
www.badcreditalliance.com

I know someone who dealt with them and had a decent experience.


2) Another firm that will take your application online:
www.rategenius.com/

3) Another firm and one that is part of the BBB's Reliability Program:
http://www.autocreditfinders.com/

Again, approach each of these firms with caution. If they start asking for post-dated checks or if they want you to put up other assets as collateral, you don't want to deal with them. They are not merely lenders; they are predators.