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Almost everyone needs a car, and for many people purchasing a car will be one of the biggest financial commitments they ever make. But what if you need a car yet do not have a credit history good enough for you to qualify for a car loan? Is there any hope?

You may not think, after being turned down by several lenders, that there is. But you are not the first person to be rejected by traditional car loan lenders, and you won't be the last. So what are your alternatives?

Ask Your Bank

First, if you have a good history with your bank, you should ask to speak to a loan officer about their bad credit car loan program, and come to your meeting prepared with solid information on the amount of money you will put down on the car, as well as the specifics of the car you intend to buy.

If the car in which you are interested does not have a high enough Blue Book value, the bank may be reluctant to offer you a bed credit car loan. If you default on your loan payments and the bank has to repossess the car, it wants to be sure the car will sell for enough to recover the amount of the loan plus the cost it. If the car is not worth enough to do that, the bank will probably require someone with good credit to cosign your debt consolidation car loan.

If you live in a large urban area, you may find some of the bigger car dealerships which have their own bad credit car investment policies. If you have a regular job and can put down a large enough down payment, they will let you but a car no matter how poor your credit record is. But you can expect some high interest rates.

Having dependable transportation is essential for almost everyone who is employed and for some people the only way to get that transportation is with a debt consolidation vehicle loan. Even with their high interest rates, bad credit vehicle investment are still attractive to those who see having a car as the first step toward restoring their credit ratings as they struggle toward financial independence.

Look For Your Lender On The Internet

There are debt consolidated auto loan available with reasonable interest rates which do not demand that you have the money for a big down payment. Some lenders are willing to give you a chance without having your interest eat up over half of your monthly payment. You can use the Internet to find the lenders who are likely to have your interests, and not their interest rates, at heart. For more info see http://www.personalbadcreditloanshelp.com/Articles/Bad_Credit_Personal_Loan.php on bad credit personal.

It may take some time, but you will find the lender who can get you into a car at terms you can truly afford. Just start doing your research, and sooner or later you will find the company willing to treat you as a financial partner!