Bad credit car loans

Here are the minimum requirements

To get a bad credit car loan through our nationwide network, you will need:
• To be a US resident at least 18 years old.
• A gross monthly income of at least $1,800.
• No current bankruptcies.
• No repossessions in the last 12 months.

Note the restrictions:
• No refinancing or title loans are available.
• Vehicle must be purchased from within our dealer network.
• No loans for sales between individuals.

So what kind of interest rate can you expect on a bad credit car loan?
At Bankrate.com you'll find daily updates on loan rates, but perhaps of more interest to bad credit history customers is the breakdown at www.myfico.com, a site that matches loan rates to credit scores.

Can you tell me my rate over the phone?
Sorry, but no. First is your rate will depend on whether it's a new or used car loan, the length of the loan, and your credit history. Secondly, we handle all our sensitive financial discussions face-to-face, as that's the only sure way to protect against identity crimes.

So why do you keep saying it's the best time ever to buy a car?
Because dealers have been hit with a glut of inventory -- both new and used -- and they have to move those vehicles off their lot. If you're encouraged about gas prices dipping down a bit, you should see some of the bargains out there right now on trucks. This year even Toyota overbuilt and had to make cuts!