Car Loans After Bankruptcy - How Poor Credit or a recent bankruptcy can affect your loan approval

If you have bad credit or a recent bankruptcy, you can still get approved for an auto loan through subprime lenders. Subprime lenders specialize in financing auto loans for people with adverse credit. And a car loan can help you rebuild your credit history, enabling you to qualify for the lowest rates of all loans within two years.
Bad Credit Factor
The traditional financing companies are willing to work with people with less than stellar credit scores. It is estimated that 80% of people have at least one late payment of your credit report. So it is better to request quotes from traditional lenders before crossing on your list. You may be surprised to find that you qualify for lower rates.
With a recent bankruptcy or foreclosure, you may need to use the services of a sub prime lender. With these types of funders, can expect to pay a couple of percentage points above its average auto loan.
Savvy Shopper Car Loan
You may still be a smart shopper car loan with bad credit by comparing the lowest rates. Online lenders for auto loans are finding that to compete, they have to offer lower rates than banks in the neighborhood. They are also able to reduce fees for the use of technology to eliminate the overhead.
To compare the real costs, request quotes from several auto loan lenders. A difference of $ 8.50 per month you can save $ 500 on a loan of five years.
There are many variables to compare how the rates, terms and fees. While low rates are ideal, it is possible for a low monthly payment is in the best financial interests.
Quick Apply
Once you have done your research, you can apply online for car loan. By using the online application, most lenders to reduce or eliminate loan rates. Within an hour you can expect a response.
When you are approved, you will receive a blank check to sign the vehicle seller. The good thing about an auto loan lender online is that only they know you have bad credit. When you bring a blank check to a dealer who only see you as a cash buyer and are willing to negotiate. 
Source: http://EzineArticles.com/65070