How To Get A Car Loan With Bad Debt

Getting a car loan seems easy, but that's only with a good credit score. If you've got a lot of bad debt, it can be much harder to secure a loan. It, however, possible to get a car loan with bad debt - it just takes a little more work. While you will almost certainly not end up with the same rates or type of loan you would have with better credit, it's possible for you to drive off the lot in a good vehicle with a little extra legwork. Below are a few of the ways you can get loan with bad debt.

Get a Co-Signer

Perhaps the best way to get a car loan with bad debt is to get a co-signer to help you with the loan. Bringing in a co-signer shows the loan originator that one of the parties to the loan has good credit, and thus it will make more lenders likely to give you the money you need. If you know someone who has good credit and doesn't mind signing for you, this is almost always the best way to go. You'll get a much better interest rate and often get access to loans that are typically out of your reach.