If you have bad credit, the internet has made getting a car loan easier than ever before. You now have more options other than just having to go about getting financed through a dealership. Going online can save you time and you will find in many cases, you will get better financing options than through the traditional means especially if you are looking for a bad credit car loan. Not only will it cut down on the time you have to spend at the dealership but the process will be much less stressful on you as well.

When you have bad credit and you step foot into a dealership, it is not a pleasant experience. You walk in, they have fill out a short application, they pull your credit and then they come to you and say, “Based on your credit, you qualify to buy this car.” Why should you have the dealer tell YOU what to buy when you should be telling THE DEALER what you want to buy? As a consumer with bad credit, be prepared for these things that any lender will ask of you:

Be Truthful: No matter how bad your credit is you should never misrepresent information on a credit application. Lenders are looking for borrowers who they trust and who they believe will repay their loan obligations. If a lender finds that you have lied about information on your car loan application, that is an immediate turn down in most cases. You want the lender to have faith in your ability to repay the loan and falsifying information on your application is one way to show you cannot be trusted.

Verification of Income: With bad credit, lenders are going to want you to prove you make the amount of money you state on your credit application. Your most recent stub from your paycheck will do most of the time but there are times where the lender will want to call and verify this information a supervisor or your human resources department.

Proof of Where you Live: With bad credit, a lender will also want to see proof that you live where you say you live on your application. This is one way to show some stability. Usually providing a electric bill or water bill showing your current address and that it is in your name will be proof enough for the lender. There are cases where a lender will want to talk to a landlord to verify this information as well.

I know going out and getting a car loan with bad credit is an intimidating experience. It is really not that bad and using the internet for your next car loan is super convenient. Not only will you be able to do plenty of research about all of your options but the internet is open 24/7 so you can apply for an online car loan anytime and anywhere. The online application process is quite simple and takes just a few minutes to complete. In many cases, you will get an answer back within 24 hours. Remember these simple rules and you will be on your way to the car or truck of your dreams in no time!