Can you get guaranteed credit acceptance on a car loan?

Man driving car with credit acceptance auto loan


Consumers who have established strong credit histories probably know they have a healthy chance of auto loan approval. For those with bad credit,* the situation may be less clear. Perhaps they’ve already been declined for financing, yet lenders offering guaranteed credit acceptance have caught their eye.

In the end, the likelihood of driving away in a new set of wheels, and the price of their loan, depend greatly on which lender they picked.


“Buy here, pay here” dealers often advertise approval guarantees

Offers of guaranteed approvals often come from “buy here, pay here” dealerships, whether advertised online or on the premises. These dealerships are convenient because they provide customers with a way to find a vehicle and pay for it in one place – they’re the supplier of both car and credit. That can also have its disadvantages, however, so think carefully before seeking a loan this way and, if you receive an offer, using it to buy a vehicle.

Interest rates can be much higher than other lending options, for example. The dealer may also repossess your car without warning if you can’t keep pace with payments, and install a tracking device for the purpose.

In contrast, traditional dealerships use third-party lenders to source financing for a prospective customer, and may be able to offer them a range of quotes. If the customer takes up a loan offer, payments are generally made to the third party.


Preapproval could be a better way

You don’t have to leave your financing to the last minute and shop for a loan while you shop for your car. Actually, it’s better to do it before you go. It’s called preapproval, and puts more power in the hands of the consumer.

Getting preapproved enables you to arrange financing when it suits you and to look for the best terms on a loan. If approved, you can visit the dealer and focus on choosing the right model and negotiating its price. Just like a cash buyer. Whether your credit is good, bad or somewhere in between, that’s a smart way to buy.

Take a few minutes to apply for preapproval with online lender RoadLoans. We accept applications from consumers with a broad range of credit, provide instant decisions and multiple offers for approved applicants.

Besides enjoying guaranteed approval on an auto loan, RoadLoans customers can go to a trusted dealership knowing they can shop for select cars, SUVs and trucks meeting our standards for age, mileage and financing. We’ve helped thousands of people looking for credit acceptance to get on the road, and we’d love to help you, too.

Apply for a car loan and get an instant decision.


* “Bad” or “Poor” credit generally is considered a FICO score around 600 and below by sources including the Consumer Federation of America and National Credit Reporting Association (reported by the Associated Press),,, Investopedia, and others. The Congressional Budget Office identifies a FICO score of 620 as the “cutoff” for prime loans. FICO scores are not the sole factor in lending decisions by and Santander Consumer USA.


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