Nobody likes to commute to work. It can be a hassle to plan your life around a bus or train schedule all the time. This is why there are auto finance loans for people with zero or no credit. In this age of rising commodity costs, it is hard for an ordinary office employee to make an outright cash purchase for a brand new car. Bad credit car loans are solutions that help those who want to get back on the road with a loan that is a win-win proposition for both the lender and the loan applicant. There are several ways to apply so make sure to weigh the pros and cons before doing so.

One way of getting bad credit car loans is through car dealerships. The perk of applying for one here is that approval time is fast but you will be subjected to a big sales push for car add-ons. Also, loans here are usually front-loaded with interest payments rather than the starting principle amount.

Another way to get this type of auto finance loan is through banks or credit unions. Here you will find competitive rates and personalized service. A bank will also inform you if you are paying too much on your car and can provide you with life or disability insurance. The downside is that you cannot set up a loan at night or on the weekend since most facilities remain closed.

Online financial institutions offer quick, easy, and competitive rates. Service is impersonal and you might not be sure of the reputation of the place. A home equity loan deducts your tax interest and rates are just as competitive as a bank or lending institution. The only sore point is that you will be essentially tying your new car to your home.