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Bad Credit Car Loan or Car Lease Cedar Rapids IA

Buying a car with bad credit can be a huge problem for subprime borrowers. Learn how a poor credit report and low FICO credit score affects what you pay, including high car insurance rates. Find out how to repair your bad credit to avoid future problems.

Des Moines, IA
Wells Fargo Financial
(319) 377-8466
1100 Blairs Ferry Rd NE Ste 109
Cedar Rapids, IA
Beneficial Finance
(319) 396-4072
4334 16th Ave SW
Cedar Rapids, IA
First Choice Mortgage Inc
(319) 378-0120
373 Collins Rd NE Ste 209
Cedar Rapids, IA
Check 'n Go
(319) 396-9700
353 Edgewood Rd NW
Cedar Rapids, IA
Bank of the West
(319) 393-8693
5000 Edgewood Rd NE
Cedar Rapids, IA
Regions Bank
(319) 393-8745
4357 Czech Ln NE
Cedar Rapids, IA
(319) 396-1880
349 Edgewood Rd NW
Cedar Rapids, IA
Hills Bank and Trust Company
(319) 654-9595
3610 Williams Blvd SW
Cedar Rapids, IA
Peoples Advantage Mortgage
(319) 294-2914
5250 N Park Pl NE
Cedar Rapids, IA

Bad Credit Car Loan or Car Lease

Having a bad credit history and low FICO credit score often creates problems when buying or leasing a car. People with serious credit problems frequently have very frustrating experiences when looking for car loans and leases, particularly in times of tight credit and economic stress.

Some banks and finance companies have tightened up from just a few months ago and are much more careful about doing business with "subprime" borrowers with poor credit histories. If you are having problems with making payments on your current car (see ), don't lose it because it'll be very difficult getting another.

However, car manufacturers and dealers are so competitive and desperate for business that they are often willing to take some extra risks to get business.

Generally, people with "subprime" credit should expect to pay higher interest rates, be required to make higher down payments, or make a security deposit (for leasing). They may even have problems getting auto insurance. It's good to check your credit reports (all three of them) for mistakes to make sure your data is accurate.

Analyze your credit situation first
If you have bad credit, do you know why? Do you know just how bad it is? There are varying degrees of bad credit. Some are seriously bad; some not so bad. A couple of late payments on a credit card account is not as bad as a recent bankruptcy or home foreclosure. Some problems can be quickly repaired; others take longer...

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