Everyone needs a reset button in their lives from time to time, and for many consumers with bad credit,* fresh start auto loans are the button to press.
Financial events like bankruptcy, repossession, job loss, medical bills, tax problems and legal issues can wreak havoc on a credit score, yet a second chance at auto financing enables customers to get the vehicle and mobility they desperately need, as well as rebuild their credit.
Making a clean start may be much easier than you think. There are plenty of options for consumers with bad credit histories to seek another loan, including online lenders, dealerships with fresh-start programs and “buy here, pay here” dealers, although it pays to choose carefully. “Buy here, pay here” dealerships, that offer financing themselves rather than using a third party, can offer higher interest rates than other lenders, for example.
An online, direct-to-consumer lender such as RoadLoans offers a number of potential advantages. You can apply from your home, work or mobile device in your own time, with absolutely no pressure. It’s super easy, takes minutes to complete and you’ll receive an instant decision. And as a full-spectrum lender, we have a wealth of experience working with customers with all types of credit, including those who have been through the turbulence of a Chapter 7 or Chapter 11 bankruptcy, or having their car repossessed.
A fresh start is all about getting off on the right foot, and another benefit is that we work with a national network of dealerships able to show approved applicants select, high-quality vehicles meeting our standards for age, mileage and financing. If approved, review your loan documents to see details of a dealership located nearby, take those papers with you and go shop for your next car, truck or SUV with confidence.
While financial stresses are an unwelcome curveball, they are also an opportunity to dust yourself off and go again. It happens every day, and applying for a fresh start auto loan is a great first step.
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), Bankrate.com, Credit.com, Investopedia, NerdWallet.com 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 RoadLoans.com and Santander Consumer USA.
Written by:
With 10 years of experience in auto finance, Rob Looker helps car shoppers find the right vehicles with the right financing so they can enjoy the road ahead. When he’s not creating content, he’s often behind the wheel, exploring new…
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