You need a car, you want a new one, what are you prepared to do to get it? The new car loan market place has opened it self to lower credit scores but there are some drawbacks to financing a new car with bad credit. Like? Interest rates which are averaging twice what a person with good credit would pay, for a start! Read the advice for car buyer blogs and you’ll often see columns about how to get a bad credit car loan, frequently they’ll only tell part of the truth. Can you get a car loan? Yes bad credit new auto loan interest rates are high and with the average new car cost around $28,000 a payment at the going poor credit rate of 13.1% will put you at $564/month even on a loan for 72 months.

Most bloggers will tell you to consider a used car, but if you are determined to get a new one, here are some things you can do to lower the interest rates and make that new car somewhat more affordable.

• Get your credit report and check it over. Mistakes or errors? Start the process to get them corrected. This is a process you need to work out with both the creditor and the credit bureau.
• Work on improving your damaged credit before you apply for that auto loan. Get current on your payments, pay off any small accounts you can, don’t apply for new credit. Remember the difference of a few points in your credit score can make a big difference in your payment.
• Work on the loan before you choose the car. Car sales people can be very persuasive and you want to have your financing lined up before you go so that you know exactly what you can afford to spend.
• Don’t let them sell you things you don’t really need. Oftentimes poor credit buyers are told that they need extended warranties, GAP insurance, glass etching. And the buyer, just happy to be approved agrees.

At the LoanexFastCash.com, we can help you get a car loan and guide you through the entire process. Our dealer lender network can help find that new or used car that’s just right for you!