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The rate you get may not be the best, but you are certain to have someone finance the loan for you. However, one should remember that dealers take a portion of the financing deals they land.
Interest rates on those with bad credit scores vary from 11 percent to over 20 percent. The solution to landing a better rate is to do some research and shop around.
Before comparing rates, make certain to get a copy of your credit report. It is wise to check that all information is up to date and accurate. The last thing one needs is to be denied a loan because of a simple error. The broad trend today among banks is to service customers regardless of their credit standing. Nobody wants to turn away a potential customer. A larger bank generally has an entire department dedicated to lending to people with a blemished credit history, or they may have an association with a company that specializes in sub-prime lending.
Smaller banks are more suitable to approve loans to people with credit problems on a case-by-case basis. The more accounts one has at the bank the better the chances of getting the loan, and the same applies for credit unions.
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Car Loans For People With Bad Credit