How To Get an Auto Loan At the Best Interest Rate

2) Have Cash on Hand (2 of 10)

2) Have Cash on Hand (2 of 10)

You know all those commercials that advertise no interest for 24 months or promise you can get the car of your dreams with a $0 downpayment? Ignore them. They aren’t for you.

It might sound harsh, but we’re here to help you get a “poor credit” car loan, not sugarcoat the auto loan approval process for folks who have low FICO scores. Sure, bad credit car loans with no money down exist, but they’re rare.

Bring a stack of cash, preferably several thousand bucks, and show it to the lender when you arrive at the car lot. This lets the bad credit auto lender know you’re ready to buy right that moment, and the loan provider doesn’t have to worry about you bouncing a check or paying with an over-the-limit credit card.