Yeah, they can be, especially since the financial meltdown from which we are making such an anemic recovery. People blamed banks and lenders and as a consequence lending standards tightened. The one saving grace, if there is one in the economic mess, is that there are a lot more people in this boat than there used to be. However that in it self, won’t get you the loan!

When you’re looking for a low credit score car loans, the best place to look may not be at your local bank or credit union. Yes, they may offer you a loan if you have a checking or savings account with them, but they generally aren’t out looking for bad credit used car financing. The networks of dealers, and the lenders with whom they do business found on the internet are a far better place to look. At the you can find just such a network.

These are dealer/ lenders who specialize in bad credit lending and they will frequently take into account other factors besides your credit score. Your debt to income ratio can be a prime factor in granting an approval in many cases. If your rent exceeds 30% of your monthly income, your total indebtedness more than 45% you may have a difficult time, however there are some things you can do even then to help gain an approval.

A down payment or a co-signer can open the door to a loan and possibly even a lower interest rate. Your employment record if it shows that you’ve been steadily employed and have been given raises can also be a factor in your favor.  A newer car and a shorter term on repayment can also influence used car financing, when you deal with the professionals, they will make every effort to obtain financing for you by taking into account as many favorable factors as possible and not relying solely on your credit score.

Let the dealer/lenders you will find at the help you to find both the car and the financing that you need to pay for it!  They have the experience and the contacts to get you the loan you need with terms and payments that you can afford.