It’s estimated that more than 25% of Americans have poor credit records, and as the numbers grow,  the specialty financing market grows as new credit products are created to assist people in getting the things they need or want.

Bad credit car loans are no exception, and if you do have poor credit but need a car, you still might be in luck.  Many used car dealers specialize in helping those with poor or no credit in obtaining financing for cars.  There are some advantages and disadvantages to applying for and obtaining a bad credit car loan.

A major advantage is that those who specialize in offering financing to those with a challenged credit record can offer more flexibility and work with you than the average bank.  They may also provide terms which include up to 7 years to repay the loan.  However,  most bad credit car loans do require repayment of the full amount of the loan within 48 months.
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