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These are tough economic times, and many have found their credit rating take a turn for the worse. So now you have bad credit and you find yourself needing to purchase a reliable car so you can get back and forth to work. But who is going to approve a car loan when you have bad credit?

Glad you asked. Actually this undertaking may not be as difficult as you might think. Read on to learn how to find bad credit car finance lenders. Many dealership advertise that they offer car financing to those with less than a perfect credit score. Some of these offer very good options. You can expect to pay a slightly higher interest rate, and you may be required to have a down payment. There are also many smaller car lots that will offer bad credit car financing. While some of these are legitimate, we urge you to be cautious and do your homework. Many of these lots are less than reputable and the vehicles for sale can be less than reliable.

These back yard financers also tend to charge unbelievable interest rates that border on loan shark rates. It’s worth your time to have the vehicle checked out, and read all the small print, as often there is a clause that if you are late by even 24 hours on a payment you lose the car. So just be careful. A third option, that many are turning to, is online lenders. There are a number of lenders online with reduced requirements for borrowing. Many are simply looking for you to show you are gainfully employed, and that you can make the payment, and for this you may pay only a few points more in interest.

The good news is that your car financing will help to rebuild your credit score. What’s important is that you take the time to find the lender that’s right for you. .