What is a bad credit auto loan?
A bad credit loan is just what it sounds like: financing for shoppers with bad credit. When conventional lending institutions like credit unions, banks, or auto manufacturer lending companies won’t approve your loan, you can get approved with a bad credit loan from our dealership. Usually, bad credit loans start off being funded by a dealership; later the loan will be assigned or sold to a finance company.
Can I qualify for a bad credit vehicle loan?
Getting approved for a bad credit loan is simple. All applicants must:
- Have proof of at least $1500/month income
- Be employed full-time or have a guaranteed fixed income for the duration of the loan
- Be a current resident of Tennessee
- Have a valid phone number and proof of residence (utility bill, credit card statement, etc.)
- Be an American citizen or legal resident
- Ability to purchase an auto insurance policy (or proof of current coverage)
Does anyone not qualify for a bad credit loan?
Shoppers who are employed temporarily or seasonally, paid “under the table” without proof of income, and military members currently stationed outside of North America cannot qualify for a bad credit auto loan.