Regardless of your specific needs (or why you need something), there will almost always come a time in your life when you need to purchase a new or used car or truck. Whether it is your first car or a car for your teenaged daughter – whether it is for work, for play or for vacations – purchasing another vehicle is a realistic need for many of us. In addition, another realistic issue when thinking about buying anything with a high price tag and interest based payments, is credit.

If you are in need of a new car, you might be hesitant to go shopping simply because you either don’t want to pay the full cash price up front or you are worried about getting a car loan with bad credit.  You can even get bad credit motorcycle loans if you are in the market for a motorbike.

Auto Loans For People With Bad Credit

I know this is an issue for many people and I also know that very often car companies trick you into believing that you too will qualify. Very often, they are trying to capture the people who have decent credit, but think that they have poor or bad credit. Meaning, that if your credit really is bad, that they will still turn you down. They just prefer to have more people coming through the doors.

Nevertheless, there is hope. Not every car company is out to just run a credit check (which does not exactly help your credit either). If you are patient and do your research, you too can find a company that offers auto loans with bad credit. I want to talk about a strategy for those that have bad credit but are making decent money.

For example, I was going to buy a new Suburu WRX STI. I first submitted my paperwork (which I knew would be turned down for credit issues) but was willing to jump through the first hoop for them anyway. After they rejected the offer, I simply sent them my taxes and paper work showing them how much money I was making. Note, this only works if you look good on paper and at the time, I did. I was accepted right away and drove off with a brand new car.

Car companies want to sell cars and will work to offer auto loans with bad credit. They will take on risk if the risk is realistic. So, if you want to buy a car, but have poor credit, then be prepared to show them something else. Also, remember that you might not be approved for a high priced vehicle, but may be approved for one that is a lower risk or price.

In addition to this strategy, it will be important for you to find companies that will work with you too. Although the strategy used above did not require any searching, I simply went to the dealership that was close by and selling the car I wanted. There are a lot of strategies that you can use to still get a car loan, just be sure to put your best foot forward.

What can you do if you don’t have this paperwork? Well, instead of just giving up or waiting for your credit to look better (which can take a really long time), how about making an action plan and start building this paperwork. Perhaps create a 3-9 month strategy of putting together paperwork that helps prove that you can make the monthly payments. A new job, new income or new taxes will all help. The more of a history you can put together, the better.