Do you need to buy a car but banks aren’t willing to help you due to your low credit score? Then you’ve arrived at the right place, because here you will find the best auto loan bad credit instant approval providers that will help you to buy the car you need in record time.
Even if you have extremely bad credit, our recommended bad credit auto financing networks will help you. Be it that you want a used and economical auto or a top-tier new car, our recommended platforms will lend you the money you need to fulfill your dreams.
Come with us to check our ranking to apply for your bad credit auto loan right now.
Ranking of the Top 6 Lenders for Car Loans for Bad Credit Instant Approval
Here you have our top lenders and lending networks to get the bad credit auto loan you need to buy the car of your dreams - check it out so you can apply right now:
- LendingTree Auto: Best for Multiple Offers from Bad Credit Auto Loan Providers
- Auto Loan Zoom: Best for Terrible Credit or No Credit History
- Best Auto Lenders: Fastest Disbursement
- Supermoney: Lowest APR for Bad Credit Auto Loan
- Caribou: Best for Co-Borrowers with Bad Credit
Just click on the name of your favorite option to apply for your bad credit auto loan with instant approval right now, so you can receive the loan money in record time to buy your car as soon as possible.
If you want to learn more about each auto lender or lending networks before deciding what bad credit auto loan to take out, then read our individual reviews below.
1. First Choice Autoloan: Best Overall Auto Loan Bad Credit Instant Approval
First Choice Autoloan is our #1 recommendation because it offers everything you could wish to find in a bad credit auto loan offer: a low APR regardless of your credit score, a generous number of offers upon approval, high approval rate for customers with extremely bad credit and no credit history, the possibility to buy any type of new or used car, and great repayment terms and conditions.
On top of that, First Choice Autoloan is also an excellent option for auto loan refinancing, even if you have bad credit. This is why we rate it a 5 out of 5 and place it at the top of our ranking, because it will be your best bad credit auto loan solution in the majority of cases.
2. LendingTree Auto: Best for Multiple Offers from Bad Credit Auto Loan Providers
If you want to get the highest possible number of bad credit auto loan offers, then LendingTree Auto will be the ideal choice for you. And you can rely on LendingTree to bring you multiple offers even if your credit score is only 300 points (or if you lack credit history). This way you will be able to take out a car loan with a competitive APR, great repayment conditions and fast disbursement.
3. Auto Loan Zoom: Best for Terrible Credit or No Credit History
If your credit score screams terrible, or if you have no credit history at all, then Auto Loan Zoom will be your best choice. Especially since you can get approved for a loan with no down payment (or as little as $500). It offers instant approval, a fair number of offers, and fast disbursement. Only keep in mind that the APR is likely to be higher, especially since they will mainly offer you Deep Subprime and Subprime car loans.
4. Best Auto Lenders: Fastest Disbursement
If you need a car as soon as possible, then Best Auto Lenders will be your best choice because they work with auto financing partners that offer the fastest disbursement process in the industry. Their offer comes along with a fair APR, competitive fees and a great number of offers so you can compare them.
Only keep in mind that this option offers a low approval rate for customers with extremely bad credit (for example, 300 points).
5. Supermoney: Lowest APR for Bad Credit Auto Loan
It’s not a secret that bad credit auto loans can get pretty expensive, especially if you get a Deep Subprime or a Subprime car loan. However, Supermoney will help you to get the lowest APR regardless of how bad your credit score is.
And hence, if you want to save the most money (especially if you’re planning to take out this loan for several years), then Supermoney will be your best choice thanks to their premium auto financing partners that will bring you the best possible price.
6. Caribou: Best for Co-Borrowers with Bad Credit
If you need to take out a car loan along with a co-borrower because you both will own and use the car, then Caribou will be your best choice. Because it offers the highest approval rate for co-borrowers with bad credit, all while offering you an excellent APR along with fast disbursement and generous repayment terms and conditions.
Ranking of Best Auto Bad Credit Instant Approval
|Good for Bad Credit
|No Credit Check needed
|Auto Loan Zoom
|Best Auto Lenders
|Low APR Rates
|Good for Low Income
|Great Repayment Terms
How to Apply for an Auto Loan Bad Credit Instant Approval
Applying for an auto loan is quite easy and you can do it in only 5 steps:
- Select a bad credit auto loan instant approval provider from our ranking
- Fill out the application form
- Get pre-approved instantly
- Receive your available auto loan offers
- Select an offer and get the car you want in record time
Because we only work with top-performing auto loan lenders and lending networks, you will get pre-approved instantly and a lender or dealership will get in contact with you in 24 hours or less. And you will be driving your new car faster than you think.
Keep in mind that you will have to submit additional documentation after you’ve been pre-approved by our recommended lending networks. But the process will be fast and easy, so you can finally find your ideal loan offer to buy the car you need as soon as possible.
Requirements to Qualify for an Auto Loan for Bad Credit with Instant Approval
If you want to find out if you will qualify for this type of auto loan, then you can easily do it by checking the eligibility requirements. Here you have the full list:
- You must be at least 18 years old
- You must be a US citizen or permanent resident
- You must have a verifiable and reliable source of income
- You must provide your most recent bank statement
- You must provide your most recent pay slip (if applicable)
- You must provide an electricity and phone bill
- You must have a valid driving license
- You must buy vehicle insurance
- You have to make a down payment (if applicable)
When filling out the first application form, you will only have to submit basic information to allow the internal review system to pre-approve you. Once you’ve been accepted, you will have to provide more documentation and information in order to get fully approved.
Why Choose Our Recommended Lenders for an Auto Loan Bad Credit Instant Approval
Here is why you should trust our recommended lenders and lending networks instead of shopping for a bad credit auto loan on your own - explore all the reasons to take action now.
Find the Lowest Rate for Your Auto Loan Bad Credit with Instant Approval
Searching for and comparing different auto loan lenders and lending networks, especially when you need an auto financing option for bad credit, can be a nightmare. Because with so many options in the market, analyzing each company and comparing them will take you several days, but since we’ve picked the top bad credit auto loan lenders for you, now you can find the lowest rate easily.
Save Time and Get Your Dream Car Faster
Since we’ve already identified the top bad credit auto loan lenders and lending networks, all you have to do is to compare them quickly and choose your preferred option. And because we’re talking about lenders and lending networks with instant approval, you will get the auto financing you need in record time.
Find Your Ideal Car
Thanks to the instant approval that our auto loan networks and lenders will bring you, you will know right off the bat the amount of money at your disposal. And this will help you to find your ideal car since you will know exactly how much you can spend. All you need to do is to send your application through any of our recommended lenders or networks and they will let you know how much you can spend based on your profile as a borrower.
The best part is that you can buy a used or new car, and if you want to buy a luxury car, then our partners will be able to help you. Since they work with the best auto loan providers in the U.S., your chances of receiving your ideal auto loan will increase significantly.
Forget About Annoying Spam Calls
Other websites that apparently will help you to find your ideal bad credit car loan, will just sell your information to third parties, and hence you can expect lots of spam calls (especially annoying robocalls). And since they will sell your information to the lender who is willing to pay the most for your information, you can rest assured that they will increase your interest rate and fees as much as they can, and this is not a good situation for you.
On the other hand, we only work with selected auto financing lending partners and networks that are capable of bringing you the best interest rates and lowest fees even if you have extremely bad credit.
Once you’ve been approved by our system, you will receive different offers from reputable auto loan providers, and you will be able to choose the best one without any pressure. Forget about spam calls and abusive interest rates forever by relying on our ranking of the top auto loan financing networks.
Benefits of an Auto Loan Bad Credit Instant Approval
These specialized auto loans offer key benefits that will help you to buy your dreamed car as soon as possible. Here you have them all so you can motivate yourself to apply for a bad credit auto loan as soon as possible.
Easiest Way to Buy Your Car with Bad Credit
You already know how hard it is to get approved for an auto loan at a bank if you have a low credit score. It’s virtually impossible. However, our recommended lending networks will make it easy for you to get approved despite your bad credit (even if it’s extremely bad) because you just have to meet minimal eligibility requirements to get the auto financing you need.
Buy Your Car Fast Thanks to Instant Approval
If you need your car as soon as possible, then our recommended lending networks and lenders can help you because they can approve your application instantly. You will know exactly how much you can spend on a car, and the disbursement process will only take 1-3 business days. However, keep in mind that in some cases you will receive a call in less than 24 hours, and you will be able to get your car in just 1 day.
Buy Any Car Brand and Model
You can use our recommended bad credit auto loans with instant approval to buy a card of any brand or model, both used or new. And since you will know exactly how much you can afford thanks to the instant approval process, you will be able to shop for the car you want with confidence.
Make Lenders Compete For You
Instead of “begging” banks or traditional lenders to accept your application, our recommended auto financing networks will turn the tables, because now you will have the lenders competing against each other to get you as a client. This will allow you to get a lower interest rate, a better loan term, cheaper fees and flexible repayment conditions, all without taking your low credit score into account.
The Truth Behind the Instant Approval of a Bad Credit Auto Loan
Our recommended bad credit auto loan providers can pre approve you instantly by filling out their fast application forms. You will receive an answer instantly because their review and analysis system will check if you meet the eligibility requirements and will also determine your creditworthiness. If your profile looks good, then they will bring you instant approval so you can move ahead with the process.
Therefore, instant approval is in fact instant pre approval, because you still have to submit more information such as details about your income source and reliability in order to obtain your bad credit car loan. However, keep in mind that the instant pre approval process is mandatory to obtain your auto loan, and hence if you’ve been pre approved by the system, then your chances of getting approved for the auto financing will be high.
Make sure to fill out the application form with as much information as possible, so that you can increase your chances of getting approved instantly, so you can move ahead with the process to get the car loan you need.
The Link between Your Credit Score and Auto Loans for Bad Credit with Instant Approval
Even though it’s clear that these auto loans are especially designed for borrowers with bad credit, which is a low credit score, it’s still important to understand the link between them and the credit score. Here’s all you need to know.
Do You Need a Minimum Credit Score to Qualify for a Bad Credit Auto Loan?
No, our recommended auto financing networks do not have a minimum credit score in order to get approved for an auto loan. Even if your credit score is only 300 points, you can still get approved by meeting the other eligibility requirements such as having a reliable source of income and a favorable debt-to-income ratio that will allow you to repay the loan on time.
Therefore, you can apply for your bad credit auto loan now regardless of your credit score. Only make sure to meet the other eligibility requirements and you will increase your chances of getting approved.
Is a Credit Check Necessary for a Bad Credit Car Loan?
Yes, even though our recommended auto lending networks and providers will not take your credit score into account when approving your application, they will still use it for calculating the APR and fees of your auto loan. Therefore, they will have to perform a hard credit check which will reduce your credit score by 5-10 points for up to 1 year.
However, they will only perform a hard credit inquiry after the pre approval, which is when you will have to provide the lender with more information about your income, economic stability, financial information, etc.
Can a Bad Credit Auto Loan Increase Your Credit Score?
Of course, you can use our recommended bad credit auto loans with instant approval as the perfect opportunity to get the car you need and increase your credit score at the same time. If you pay the loan on time without failing, and since we’re talking about a loan term of 12-60 months, this will help you to improve your credit.
The Interest Rate and Price of an Auto Loan Bad Credit Instant Approval
It’s also important to understand what interest rate you will pay when taking out a bad credit auto loan with instant approval. Here you have a table that will explain all the ranges perfectly, so you can see how much you will have to pay.
What Factors Will Influence the Auto Loan Price and Terms?
Factors such as your credit score, debt-to-income ratio, the car you want to buy and the down payment will determine the interest rate and term of your car loan. Here you have a list with all the factors:
- Debt to Income Ratio: The higher your debt-to-income ratio is, the lower the loan amount will be and the lender will possibly increase the interest rate as well. Therefore, if you want to quality for a bigger car loan, then you should work on reducing your debt-to-income ratio
- Credit Score: Even though our recommended lenders can approve you even if you have extremely bad credit, they will still use your credit score to calculate the interest rate and fees of your auto loan
- Down Payment: If you make a significant down payment, let’s say 30% of the total price of the car, then you will reduce the risk of the loan, and hence lenders will be willing to bring you a better interest rate and favorable terms and conditions. However, keep in mind that some of our recommended auto loan providers do not require a down payment in order to get approved
- Car: The brand and model you want to buy - as well as if it’s used or new - will have an important influence on the price of your auto loan. If your credit is extremely bad and you want to buy a new Porsche 911, then lenders will view you as a high-risk borrower and possibly deny your application, or if you’re approved, then they will increase your APR.
Our recommended auto loan bad credit instant approval suppliers will always bring you the best price regardless of the risk you present as a borrower. Therefore, feel free to apply now because you’re sure to get a competitive interest rate even if your credit score is extremely low.
Will Your Credit Score Influence the Interest Rate and Price of an Auto Loan?
Yes, because it will determine what kind of auto loan you can take out, as they’re divided in different categories based on your credit score. The following table will explain to you the different types of car loans and their respective interest rates for new and used cars.
Credit Score Range
Auto Loan Category
Interest Rate for New Car
Interest Rate for Used Car
Since we’re talking about bad credit auto loans, you’re likely to qualify for a Deep Subprime if you have extremely bad credit, or a Subprime or Non Prime car loan if your credit score is higher than 500 points. In any case, our recommended lending networks will help you to find your ideal car loan.
Even though it is clear that the interest rate will be high, our partners and recommended auto financing networks will help you to get the best APR even with an extremely low credit score.
If you want to reduce the APR and fees, even if you have a credit score of 300-500 points, then you should focus on increasing your down payment. This way you will get a better APR, a longer repayment term and more favorable conditions for you as a borrower.
About the Down Payment and Qualifying for an Auto Loan Bad Credit Instant Approval
Are you wondering if you will have to make a down payment when taking out an auto loan with bad credit? Here you will find all the information you need so you can apply for your loan as soon as possible.
Is a Down Payment Necessary to Qualify for a Bad Credit Car Loan?
Our recommended auto lending networks and providers will not require you to make a down payment in order to get approved. However, it will be better if you make a down payment because this will let lenders see that you’re not a high risk borrower regardless of your current credit situation.
Therefore, even though it’s not necessary to make a down payment, we recommend you to do so. Because this way you will increase your chances of getting approved by our recommended auto financing networks, you will reduce the interest rate and fees of your loan, and hence you will make your loan more affordable in the long run.
How Much Should You Put Down on a Car when Taking out an Auto Loan?
Since we’re talking about a car loan for poor credit, the bigger the down payment, the better. We recommend you to make a 10% down payment as a bare minimum, but if you can afford to make a 30-40% down payment, then do it. This way you will massively increase your chances of getting approved, and you will reduce the cost of the auto loan at the same time.
However, if you really cannot afford to make a down payment, then you will be happy to know that some options in our ranking will happily accept your application. Only keep in mind that the APR is likely to be higher and that they will reduce the maximum loan term.
If you want to explore more details about auto loans for bad credit with instant approval, then this section will be perfect for it. Here you will find the answers to the most frequently asked questions about bad credit auto loans with instant approval.
Can you qualify for an auto loan even with extremely bad credit?
Yes, our recommended lenders and lending networks offer the highest approval rate for borrowers with extremely bad credit. Therefore, even if your credit score is only 300 points, you can still qualify for an auto loan to buy the car of your dreams.
Can I prepay a bad credit auto loan?
Yes, our recommended auto loan bad credit instant approval will allow you to prepay your loan without problems. This will allow you to manage your debt as you wish, while making it possible for you to buy your dream car in record time.
How long does it take a bad credit auto loan to be disbursed?
Even though our recommended bad credit auto loans will approve you instantly, the disbursement process can take anywhere from 1 to 3 business days. Our selected auto financing networks and partners will speed up the process as much as possible, only make sure to apply right now.
Can I get a bad credit auto loan to buy a used car?
Yes, our recommended auto financing networks can approve you for a loan if you want to buy a used car. In fact, thousands of Americans use our recommended loans for this purpose because used cars are cheaper, and a lower loan amount means an easier-to-manage debt.
Can you get approved for a bad credit auto loan if you’ve filed for bankruptcy?
Yes, our recommended lending networks can help you to find a provider willing to lend you the money you need to buy a car even if you have bad credit and you’ve just filed for bankruptcy. And they will also help you to get the lowest possible APR.