Car loan – possible to get it even with a bad credit score

May 20 2010 If you are one of those unfortunate ones who is currently having a bad credit score but still want to go ahead and take a car loan then do not despair. you need not worry about the lender doing a credit check on you before releasing the loan. There is a service offered whereby there is no need for any credit check by the lender who will be advancing the car loan to you. The lender will basically rely on any collateral that you can bring to the table or if you can show him that you have a steady income, the lender would be more than willing to extend the car loan you want though at a higher interest rates.
It is your responsibility to however bargain hard and aggressively to get the best rates possible. After all, you would be negotiating with multiple car loan lenders who are all keen to get your business.
Though the car itself can be placed as collateral, due to the depreciation effect, lenders might ask for additional collateral and if you are in a position to offer them that, then you can be aggressive and bring down the rate of interest.

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