How to Buy a Car With Bad Credit Online and Avoid the Pitfalls of Predatory Automotive Lending

So you've come to the realization that you have a low credit score, are on the prowl for a better vehicle and are wondering how in the world you're going to get a good deal.

If this is you, there is good news and there is not so good news.

First, the good news...

There are loan companies that are exclusively committed to helping folks just like you. They specialize in bad credit car loan applicants and can pave the way to get you into a car with reasonable payments and interest rates that you can live with. Getting a vehicle with no money down is a very real possibility for you and even if you've been turned down locally, it does not matter to these companies. Ok, so that's the good news.

Now, the bad news...

It is not realistic to expect that you will be driving off of a car lot in a brand new 2010 Mercedes Benz E Class. Sorry, but that's just not realistic. You're going to have to have some time to let your credit history get re-established as you continue to pay your payments on a timely basis. Many people go into dealerships believing the dealers advertisements that anyone is approved. Well, they are if they have enough money down!

Avoid Predatory Lending

This is so important. If you have credit issues, you do not have to go to a buy here pay here dealer. There are options available to you online and you should avoid any "in-house" financing offer.

By Jason Lanier