Bad Credit
Auto Lenders

Subprime Auto Loan
Comparison and Your Approval!

Bad credit auto lenders specialize in loaning money to people, with less than perfect credit, in order for them to buy a car. Pretty simple to understand, but...

  • Who is the best for your situation?
  • What does it take to get approved?
  • How much money down will you need?
  • Will they require that you have a cosigner?
  • Where do you apply to get approved with these lenders?

Good questions to ask. Let's take a look at some of the nations largest bad credit auto lenders, what it takes for you to get a YES!, learn about their programs and where to apply for a fast approval!

Subprime Auto Loan Comparison

Rank Auto Lender Min. Credit Score Min. Down Payment Co Signer Required Min. Income Max Vehicle Miles
#1 Credit
$500 No $800 Any
#2 Drive
Varies No $1,200 Any
#3 AmeriCredit
500 $0 No $2,000 80,000
#4 Drive
No $1,500
#5 Westlake
No $1,500 Any
#6 Consumer
No $1,400
#7 Regional
No $1,900 95,000
#8 United
No $2,200 Any
#9 Santander
550 $500 No $2,000

Lender terms and guidelines may change please read disclaimer.

Acceptance Corp

Credit Acceptance Corp approves all credit! They guarantee credit approval. This is the only lender that I work with that will never turn anyone down based on past credit.

100% guaranteed credit approval is very strong! It doesn't matter if you've had multiple repossession's, foreclosures or any other number of things...You will get approved!

They finance any age vehicle with any miles and there minimum down payment requirement is only $500. Keep in mind, although everyone is approved and qualifies for only the $500 down payment, your vehicle options may be limited.

By far the best of the bad credit auto lenders
I've ever worked with!

As with almost all bad credit auto lenders, they don't lend direct to the consumer. That's okay though, because you'll need to work with a loan specialist that is familiar with their program in order to structure your new loan. Apply Below

DriveTime Auto Sales

DriveTime Auto Sales are not only bad credit auto lenders, but they are the dealer too.

Because they are both the lender and the dealer, they offer some very flexible terms and they have a great selection of vehicles to choose from. They were my largest competitor when I worked in Austin, TX, because of the flexibility of their auto loan program.

They finance 99% of the cars they sell, so if you don't get approved to buy a car at DriveTime, then it's probably something other than your credit holding you back.

They have over 100 dealerships nationwide and cover the following states: AZ, CA, CO, FL, GA, NV, NM, NC, OK, SC, TN, TX and VA. DriveTime - The used car dealership for those with bad credit. Apply for an Auto Loan Below it takes 2 minutes.

AmeriCredit Financial

AmeriCredit Financial has a great program for those looking for subprime auto loans.

Unlike most of the other bad credit auto lenders in the comparison, AmeriCredit has a minimum credit score requirement of 500. Below 500 and their computer will automatically turn the application down (What's your Credit Score? Find out FREE!


Even with their minimum credit score requirement, I've ranked them #3 because of their recent new car financing options.

AmeriCredit was recently acquired by GM Financial and are now able to offer special low rates on new Chevy vehicles to customers with scores as low as 500. We're talking really low rates here...In many cases, they can be as low as single digits interest rates.

Rates as low as 2 or 3% for a new car, with a 500 credit score... That's awesome! They also offer a wide range of rates for used cars as well and even with a low credit score you may still qualify for some very competitive rates. Apply Below to see what you'll qualify for.

Drive Financial

Drive Financial is another of the bad credit auto lenders that approves almost anyone. They will even consider auto loans to applicants with fresh repossessions. Like yesterday!

They used to charge very high acquisition fees to the dealer, which made it difficult to put a deal together without a big down payment from the customer, but they have recently started charging much lower fees (means less down payment needed) and that is the reason for them jumping to the #4 spot.

Drive Financial is very flexible as to who they will approve for an auto loan and how much they will loan, but one thing they do not like is major bad credit after a bankruptcy. How much will they approve you for? Apply Below, it's fast and easy!

Westlake Financial

Westlake Financial will say yes to just about anyone and would probably fall in line right behind Credit Acceptance in terms how easy it is to get approved.

I've found that they usually look to finance for shorter terms and are looking for a solid down payment. They offer rates all the way down to 13.5%, but this is for the stronger bad credit customers.

If you've had some problems in the past, but have also had some well paid accounts, then Westlake Financial might be a great fit for you. Apply Below to see if Westlake is right for you.

Consumer Portfolio Services

Consumer Portfolio Services advertises for foreclosure customers and considers that one of their key niches. They offer a wide range of programs, from first time buyer to their foreclosure program.

They do charge a fee to the dealer, which means that you'll probably need some cash down to get the loan to fit the approval. Their minimum down is only $500 for their top tiers, but if you can come up with 10-15% of the sale price that's better.

Consumer Portfolio has a wide range of rates with their lowest coming in in the mid teens and they offer extended terms (up to 72 months) on vehicles that qualify.

If you've had a foreclosure in the past or recently, bad credit auto lenders like Consumer Portfolio may be perfect for you. Apply Below to see what they can do for you.

Regional Acceptance Corp

Regional Acceptance Corp has a program that is very good for the right customer. They offer a first time buyer program and offer extended 72 month terms.

The have an excellent, in fact the best of all bad credit auto lenders, loan to value. In other words, they will lend more money against the value of the vehicle. This is beneficial if you have limited money down and/or some negative equity from a trade in.

On top of that, they will loan additional money for extended warranties and GAP insurance if you want them.

Their rates vary with the age of the vehicle (older car, higher rate) and their first time buyer program has a flat rate that's the same for everyone. First time buyers will need to come up with 20% down, but trade equity can substitute for cash.

First time buyer? Got some negative equity? Or limited money down? Apply Below and see how Regional Acceptance might be able to help you.

United Auto Credit Corp

United Auto Credit Corp (UACC) loans money to a very wide range of credit customers and even loan to customers with open bankruptcies. So if your bankruptcy is not discharged, then they are a great source for a loan.

IN fact, of all the bad credit auto lenders above, I'd say that UACC is the most focused on bankruptcies, whether open or discharged.

Their down payment requirements are minimal and they will also loan on older vehicles with high miles (if that's what you are wanting to buy).

They have a first time buyer program available that's especially good for customers with no credit and some negative accounts, like medical collections, cell phone collections, etc.

United Auto Credit Corp. will also accept trade equity if you have no cash to put down.

They no longer offer 72 month loans and it is hard to finance a warranty with their new program. That is the reason they have recently slipped to #8 in this comparison.

United Auto Credit is still a good lender, but not offering all the goodies they used to. Bankruptcy? Apply Below to see if UACC's bankruptcy program is for you.

Santander Auto Finance

Santander Auto Finance has recently become one of my favorite and most used bad credit auto lenders. In fact, they would be at the top of this list if it wasn't for their minimum credit score requirement of 550.

They offer better terms, rates, smaller fees and funding is easier, in most all situations, than the lenders above. Problem is that more customers will get turned down than with the other lenders. If you have a 550 credit score or higher (What's your Credit Score? Find out FREE!

) than you will definitely want to see what they can do for you...

Apply for Your Loan

Between all the bad credit auto lenders and their programs mentioned above, there is a program for just about anyone...No matter how bad your credit was or is now. In fact, as mentioned above, there are lenders that 100% Guarantee Your Credit Approval!

Find loan specialists in your local area that can match you up with the right lender with one these or similar lenders that can help you get approved...

Simply fill out this 60 Second, No Obligation Auto Loan Application -> Bad Credit Auto Loans and you could be driving your new car within 24 hours.

The bad credit auto lenders above have excellent programs, but do require someone with experience using their programs to structure the loan and complete the paperwork. In other words, they do not lend direct to the customer (with exception of DriveTime).

That's okay though, because a bad credit loan specialist will make things much easier for you and can take much of the stress out of the car buying process. For more information on bad credit auto lenders read how to get approved for a car loan to learn how they see you.

Return from Bad Credit Auto Lenders to Car Buying Tips home

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