 TITLE: How to Get a Car Loan CONTENT: How to Get a Car Loan With Bad Credit\n-------------------------------------\nIf your credit report contains some negative information, or your credit score is not as high as you would like, consider taking steps to improve your credit before applying for an auto loan. Improving your credit can boost your chances of qualifying for an auto loan at a good rate and terms. Steps you can take to improve your credit include:\n*   Bringing any late payments or collection accounts current.\n*   Paying all your bills on time every month.\n*   Paying down existing debt to improve your credit utilization ratio, which compares the total amount of credit you have available with how much of it you're actually using.\nIf your credit reports and scores are poor, and you can't afford to wait to get a car, it may still be possible to get a car loan. However, be aware your loan will likely have a higher interest rate than what's offered to people with good credit scores.\nYou can offset the impact of poor credit by saving up for a bigger down payment. The down payment will reduce the amount you have to borrow—and the amount of interest you'll pay over the life of the loan. Plus, lenders may view your down payment as evidence you know how to manage money and will likely repay their loan.\nYou can also ask someone with good credit to cosign for a car loan. When you have a cosigner, that person's good credit will influence the interest rate and terms the lender offers. However, your cosigner will share responsibility for repaying the loan, so it's important to ensure you make all payments in a timely manner. END