You can get a car loan with bad credit. Even if you had a repossession or bankruptcy. Yes, indeed, your interest rate can be higher, which means that in the end you will pay more for the car, but it can be done.
You need to decide if you want a new car or used, the price range you can afford and what you can use as a prepayment. Usually will depend on the payment if you will qualify for a new car loan. Most lenders are leary to give loans for people with the same half-bad credit without a co-signer. In addition, when working with a smaller retailer, they may not have the resources for a person with bad credit approved loans.
I personally had that experience. I had been sacked and my accounts were more than my unemployment and my car payment was what had to suffer. I had a repossession. I then gained employment and needed a car. I had no co-signer (someone with good credit who would pay off the loan if something happens). I knew I couldn't get a new car, because of repossession, but I thought I could be approved.
I've been to about 5 different dealers, some well-known and some who say "Got a Job, get a car" as their advertising and was rejected by all of them. If only I had a co-signer, but I didn't know. Finally approved in a type "buy here, Pay here" of the concessionaire. Buy the car from them and they finance you in-house. My interest rate is shocking, but I have a late model car that works well. And while my payments are made on time, in 12-18 months, I can refinance or attempt to obtain a car with a lower rate.
There is hope for people think that it is not possible. You may have to settle for a car that is not all you want, for example, I sacrificed power Windows and locks, but my car has air conditioning. Although, the reason for a car is to get from point to point b and vice versa, so be thankful to you.
Don't be afraid and think it's a losing battle. Can be difficult at first, and you may face rejection, but in the end you will have a car and have a sense of pride in doing it.
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