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Where Can I Go to Get a Car Loan?



Knowing where to go to get your next auto loan is important so that you can avoid being turned down unnecessarily. There are different types of lenders for different borrowers, so choosing the one that meets your needs is vital. If you’re struggling with poor credit, the loan process doesn’t start out by choosing a vehicle, but the right lender.

Types of Car Loans

When you have poor credit, big-ticket items such as car loans can be more difficult to get approved for. If you’re working with the right kind of lenders, though, they have processes in place to help you get an auto loan. Because it’s so important to start out your car loan on the right foot, you have to know where you should start looking – auto loans aren’t one size fits all, and where you get your loan from matters.

Typically, there are three main types of financing you could get for a car loan, depending on your situation and needs:

  1. Where Can I Go to Get an Auto Loan?Direct loans, which is what most people think of when they’re talking about traditional loans, come from banks, credit unions, or online lenders. These loans are typically reserved for borrowers with good credit scores. If your credit score is around 660 or below, you may have better luck with a different type of auto loan.
  2. Subprime lenders are for borrowers who aren’t eligible for a direct loan. These lenders know that people who are struggling with credit issues are more than just a credit score, and use as much personal and financial information as they can to help them get a better picture of your situation. These lenders are sometimes referred to as bad credit lenders, and they can work with people in many different credit situations. Subprime car loans are indirect loans, though, and you can only get one by applying through a special finance dealership.
  3. Buy here pay here dealers are for borrowers who aren’t in a position to qualify for a subprime auto loan. These dealerships specialize in in-house financing, and aren’t as prone to checking your credit as other types of lenders. This makes them a good choice for second-chance financing if you’ve been turned down before. However, this type of car loan may not be as helpful as you hope. The price of skipping the credit check can really take a toll, and, in some cases, you may end up paying much more than you bargained for on a used vehicle here.

As you can see, there are lots of lenders out there for you to choose from. Your personal situation, and what your credit reports say about you, are going to dictate which step you take next.

Your Credit Score Matters

To find out what type of auto loan is best for your credit situation, you need to know your credit score and what’s on your credit reports. You can stay on top of your credit score by signing up for a credit monitoring service, or find it through your credit cards, bank, or credit union, many of which provide this free of charge.

In order to see what’s impacting your credit score, you also need to get a copy of your credit reports. Now through April 2021, you’re entitled to get a free copy of your credit reports from each of the three national credit bureaus once every week. You can request them by visiting

Knowing what’s on your credit reports lets you know what the lenders are seeing, giving you a bargaining chip if they try to determine your credit for you. If you know your credit score, you also have the power to research possible interest rates so you know what kind of a deal you may be eligible for. Your credit score is the biggest factor in determining your interest rate.

If you find that you have a low credit score, don’t assume that you’re out of the running for a good deal. There are a lot of options for getting a car loan if you work with the right lenders for the job.

The Bad Credit Auto Loan Process

Applying with a subprime lender is often the best bet for credit-challenged consumers, but the process may seem a little different than you imagine it. Instead of choosing a particular vehicle and then finding financing for it, you need to find a dealer with the right lending resources first.

Before heading to the dealership, it’s important to gather all the documentation you need to prove to the lender that you meet their requirements for getting an auto loan. Though specifics can vary by lender, all subprime lenders have similar qualifications you need to meet.

These include proving that you meet the income and employment requirements, have residential stability, and are willing to invest in your own car loan success.

Generally, proving you meet these requirements means providing the following items to the dealer:

  • Check stubs – Lenders need to know that you make enough money to pay for an auto loan, so they require proof of income with a computer-generated check stub showing year-to-date income. Typically, subprime lenders require you to make around $1,500 to $2,500 a month before taxes.
  • Utility bills or bank statements – These are used to prove your residence. They must be in your name, and match the address you’re currently living at that you listed on the application.
  • Phone bill – Lenders need to be confident that they can contact you whenever they need, so they require proof of a working landline or contract cell phone in your name.
  • Personal references – Most lenders still ask you to provide a list of around five to eight personal references with complete contact information.
  • A down payment – This shows that you’re willing to have some skin in the game. The amount you’re likely to need may vary, but many subprime lenders require a minimum of $1,000 or 10% of the vehicle’s selling price.
  • Driver’s license or state ID – Some lenders only require a state ID, but you need a valid driver’s license to operate the car. Any form or identification you use must be valid, meaning it’s not suspended, expired, or revoked.

Once you provide these documents at your dealership, they act as the go-between with you and the lender. The dealer reviews your documents and application, and then presents them to the lender for an approval. If your financing request is approved, the lender lets the dealership know what the maximum monthly payment you qualify for is.

The dealer then gathers a list of vehicles they have in stock that fit into the payment guidelines provided by the lender. You’re able to test drive and choose a car from these, complete your paperwork, make the necessary up-front payments (down payment, tax, title, license, and documentation fees), and take delivery of your vehicle.

Ready to Get Started?

Now that you know you have options for where to go for an auto loan, you need to decide which type of lender is best for you. If you’re struggling with credit issues, a subprime lender may give you the best opportunity for a car loan. But, knowing where to find those lenders can be challenging.

Subprime lenders are indirect lenders that only operate through special finance dealerships. It can be hard to tell these dealers from others, but we know where to go to get started! Here at Auto Credit Express, we work with a nationwide network of special finance dealerships that are teamed up with the lenders you’re looking for.

To get matched to a dealer in your area, fill out our fast auto loan request form. Let us help you avoid the hassle of searching for a loan, get started right now!

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Bad Credit

Young Entrepreneur is Proof That Age Does Not Matter in Obtaining a Successful Credit Score



Credit score specialist Alex van Hulle runs a company that helps individuals and families find support to create a strong, long-lasting financial record. Alex has spent many years researching and understanding the crux of financial management. His dedication has paid off, enabling him to secure a solid future for generations to come.

Today, through Credit Alleviation, Alex uses his knowledge to help others benefit from the lessons he learnt. The company offers valuable practical tools and resources to clients who require help in managing their finances and maintaining a good credit score.

We designed the UCES Protection Plan to support our client’s financial opportunities by implementing positive habits to create and maintain a strong financial future. Our unique collection of services has been carefully selected to provide protection and opportunity over the many aspects of the client’s finances – all combined into one easy-to-use system”, says a spokesperson for Credit Alleviation.

Despite being young in years, Alex has accomplished much and continues to create an impact in the financial world. His most recent decision to provide premium education and motivation free of cost has singled him out in the industry. Alex has a strong commitment to see people be inspired to pursue a positive healthy financial lifestyle. He hopes that through this people would make the right decision for their finances.

Alex made up his mind to do this because he noticed that most people who want a buy a house, get a new job or upgrade their car get turned down because of bad credit. Lack of proper education and understanding of financial management is the main reason for their failure”, says a spokesperson for Alex van Hulle.

Through Credit Alleviation, Alex hopes that people would understand how valuable it is to take the financial matter seriously. Alex believes that if he can help people realize that securing a solid future and building wealth starts at a young age, it will lead to great things. Just like himself, others too can live debt-free and remain confident as they grow. He shares many years of experience in the industry and delivers professional advice almost daily to thousands of people.

This is why I continue to post more engaging content on my Instagram page, to encourage people to take their financial life seriously and build a better future”, says the young businessman and aspirant, Alex van Hulle.

Through his Instagram page @credit.alex, Alex van Hulle inspires his followers with motivational quotes, tips, and the latest credit score and finance information. Followers get advice on topics like debt, credit score factors, tax, credit restoration, loan payments, emergency funds, credit card management, creditworthiness, budgeting, etc.

Alex continues to influence many people, both old and young, to make wise financial choices. He uses a creative style of communication with his followers and viewers. It is no wonder this has made him a favorite avenue for getting financial tips that have helped the lives of thousands.

For more information, please visit:

Instagram – @credit.alex

Media Contact
Contact Person: Alex van Hulle
Email: Send Email
Phone: 813-503-9562
Country: United States

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4 reasons why your mortgage application could be rejected



Check yourself if you want to ensure your loan application is approved. (iStock)

When the Federal Reserve lowered interest rates to near 0% last year, mortgage rates followed suit. The average 30-year fixed-rate mortgage hit 2.65% at its lowest, and the average 15-year fixed-rate mortgage bottomed out at 2.16%. At publication, the 30-year FRM sat at 2.96%, and 15-year FRMs averaged 2.30%.

Despite economic uncertainty brought on by the pandemic, these low-interest rates increased enthusiasm in the housing market for potential home buyers. As more people flock to apply for mortgage loans, lenders are tightening their restrictions.


Unfortunately, many potential borrowers have been or will be denied a mortgage loan. Lenders consider several factors when deciding whether to loan money to a borrower. Not only do mortgage lenders consider income, but they also look at debt, credit score, and lifestyle factors. Within such a competitive market, you’ll want to make sure everything lines up if you’re going to get approval. (If you want to get a sense of what preapproved rates you’d get in today’s mortgage rates market, you can check out Credible’s lender marketplace).

There are a few primary reasons your mortgage loan application could be turned down in 2021:

1. Poor credit

One key factor that lenders consider when approving or denying a home loan is credit history. Your credit score is a quick way for lenders to decide whether you represent a trustworthy buyer. The minimum credit score required to purchase a home depends on the type of loan you want. You may qualify for an FHA loan with a score as low as 500 with a 10% down payment. If you want a conventional loan, you’ll need a score of between 620 and 660, and a jumbo loan requires a minimum score of 700. 

As lenders tighten their restrictions, borrowers who may have qualified in the past may find themselves shut out of a mortgage loan. 

In addition to your credit score, a lender looks at your credit report. You may not qualify for a loan if you have a history of missed or late payments, recent bankruptcy or foreclosure, or wage garnishments. In order to qualify, you’ll need to work on improving your credit score.


If you’re worried that your credit score is too low, you can potentially improve that bad credit by using Credible’s marketing partner Experian to boost your credit. You can add bills like rent and your cellphone payment to your credit score.

2. New or unsteady job

Lenders want to give money to people who have the income to make their monthly payments. They look for employment history and annual or monthly income history to determine if you can afford a mortgage. Ideally, you’ll have employment dating back at least two years. Lenders will want to see pay stubs and tax statements. 

However, if you’ve changed jobs recently or your work is more fluid (like freelancing), you may have to provide additional documentation to show that you can afford to make the mortgage payments. Alternatively, you could offer a larger down payment rather than a low down payment. 

Common ways to show income include:

  • Tax returns
  • Pay stubs
  • 1099 forms
  • Statements from investment income
  • Alimony or child support statements

When you’re looking for a loan, make sure to take advantage of an online mortgage calculator to help determine potential monthly payments. The loan payoff calculator can help narrow down your budget, so you choose a loan you can afford.


3. Large, unknown deposit

While having a sizable down payment can make getting a loan easier, having a history of large deposits into your account without records does not. It is perfectly acceptable for someone to gift you money, but you’ll need to provide documentation. If you have a family member or friend who contributes a large sum of money to your purchase, you’ll need to have them complete a gift letter stating the details of the transaction. 

When you’re ready, you can explore your mortgage options in minutes by visiting Credible to compare rates and lenders. Check out Credible and get prequalified today. 

4. Last-minute spending on a credit card or change to credit report

One of the most common reasons lenders deny a mortgage loan is a change in the credit report. Your lender can deny your loan up until you sign the final paperwork. If you’re approved for a mortgage loan and then use your credit card to purchase furniture for your home, the lender could deny your loan application.   

You can prevent having your loan rejected this way by planning. Avoid taking out any loans – like personal loans, auto loans or student loans – or spending too much on your credit card a few weeks before you apply for a mortgage loan. Additionally, don’t make any major purchases until after you sign your final loan documents and the key to your new home is in your hand. 


Are you ready to see if you qualify for a mortgage loan? Explore your mortgage options by visiting Credible to compare rates and lenders. 

Obtaining a home mortgage loan this year could be challenging. But, if you manage your spending, work on your credit score, and keep good financial records, you can substantially improve your chances of approval. 

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

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Can You Get A Student Loan With Bad Credit?



Borrowing a student loan with bad credit can often be a challenge, but it is possible. If you have bad credit, federal student loans are a great place to start, but you can also look into getting a co-signer or finding a lender that uses other factors to determine your eligibility. Here’s how to start.

Options for student loans with bad credit

When you’re shopping for educational loans, any options you review will fit into one of two categories: federal student loans or private student loans. As a borrower with bad credit, you’ll encounter different benefits and drawbacks with each loan type.

Federal student loans

Federal student loans are a form of education financing that’s funded through the U.S. Department of Education. You can use the proceeds from federal student loans to help cover expenses such as:

  • Tuition.
  • Fees.
  • Books.
  • Room and board.

If you have credit problems, federal student loans are typically the best place to start. Most federal student loans do not require a credit check to qualify for financing, so bad credit won’t be an obstacle in most cases. PLUS loans are the one exception; these loans will check your credit, although they’re only looking for an adverse credit history and don’t have minimum credit score requirements.

Federal student loans do feature borrowing caps. As a result, these loans might not be sufficient to cover all of your educational costs.

Private student loans

Private student loans are a type of education financing that’s available through private lenders. Online lenders, banks, credit unions and even colleges and universities themselves may offer private student loans.

With a private student loan, the lender will almost always check your credit as part of the application review process. When you have bad credit, securing a private student loan may be a challenge. Bad credit can also impact the interest rate and loan terms a lender offers you — potentially making it more expensive to borrow money if you qualify for financing.

Many private student loan lenders will require you to have a minimum score in the mid- to high 600s to qualify for financing. However, the lender may allow you to apply for a private student loan with a co-signer if you are worried that you won’t be eligible on your own. Just keep in mind that co-signing for student loans comes with its own drawbacks, such as the risk of credit score damage for your loved one.

Most of all, it’s important to conduct your own research if you’re considering a private student loan for bad credit. Comparing offers from multiple lenders has the potential to save you money on interest rates, especially with bad-credit student loans. Over time, those savings could add up to a significant amount of cash.

How to improve your credit score before applying for a private student loan

Because your credit plays a key role in the approval process, it’s wise to make sure that your credit score is in the best shape possible before applying for a new private student loan. Better credit may improve your approval odds and could help you secure better rates and terms when you borrow money.

Here are four steps you can take if you want to improve your credit.

  1. Check your three credit reports. As you review your credit reports, make a list of any information that seems inaccurate and any negative items you need to address. You can claim a free copy of each of your three credit reports weekly at
  2. Dispute credit errors. Millions of Americans have errors on their credit reports. Some credit reporting mistakes have the potential to damage your credit score. If you discover errors on your credit report, it’s wise to dispute them right away.
  3. Lower your credit card utilization. A high balance-to-limit ratio on your credit cards can be bad for your credit score, even if you make your payments on time. You can lower your credit utilization rate (and likely save money in interest) by paying down your credit card balances. A credit limit increase is another out-of-the-box way that could help you to lower your credit utilization if you can’t afford to pay off all of your balances at once.
  4. Establish positive credit. If your credit report is thin, adding some new positive accounts to it might benefit you over time. Keep in mind that you may want to start with accounts you’re likely to qualify for despite having bad credit or no credit. Secured credit cards or credit builder loans may be worth considering here.

The bottom line

Can you get a student loan with bad credit? There’s a good possibility that you can, and your best bet is starting with federal student loans. But if you need private student loans to help finance your education, bad credit could make borrowing money more difficult and more costly.

Focus on improving your credit as much as possible before you apply for financing. And remember, if you decide to accept an interest rate that you’re not thrilled about now, you can always refinance your student loans in the future.

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