When it comes to getting an auto loan with financing car bad credit, most lenders have a score card that they use to rate your creditworthiness and risk. Sometimes called a credit score or FICO score, this is not the only tool these lender use.
Rarely will sub prime lenders rely on the credit bureau score alone when making their decision whether to approve or decline financing car bad credit loans. While the FICO score is the place that they start, these lenders always look beyond your credit score to try and find an underlying pattern of stability that will enable them to approve your application. Based on experience, here are a few examples of items that may be part of a subprime car lender’s score card: (more…)