CARCHEX.com has certain requirements that a person must meet to qualify for a loan through our application process. It is true that CARCHEX.com can sometimes acquire car loans for applicants with bad credit but not for all of them. There are several factors that are taken into consideration during the application process.

Some of the requirements needed to obtain a loan through CARCHEX.com are that you have a telephone number, email address, make at least $1,500 a month and are at least 18 years old, with a valid driver’s license. You should also have worked with your current employer for at least a year. If you are unemployed, you may have to find alternative financing.

It is a good idea to wait until you know you will qualify for a car loan from one of our lenders. This way you can be sure you are receiving a decent interest rate that you may not get should you apply with a lender who does not require employment. We do everything we can to make sure applicants receive the best interest rate available and that they are approved. However, some lenders will not work with you unless you meet the requirements mentioned.

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Published in by CARCHEX on April 8, 2015