Alternative Lending With Buy Here Pay Here Car Dealers

CarLotLoans provides alternative car financing for people who have been turned down for a traditional car loan though our network of participating used car dealers.  These dealers represent a unique segment in the automotive industry because they not only sell used cars, they also own and operate their own Related Finance Company, or RFC.  If you’ve been turned down for an auto loan in the past, apply here and you could be approved by one of our car dealers today.  It’s fast, convenient and simple!

Basic Buy Here Pay Here Lending Criteria

Unlike traditional car loans, qualifying for auto financing through our network of used car dealers is simple. In fact, your credit score is relatively insignificant when it comes to the underwriting process and often times used as a way to verify your residence rather than your credit history. Because our participating auto dealers fund and service their own loans, qualifying criteria may vary slightly from dealer to dealer. The following criteria however, are universal among most dealers:

    1. Verifiable Income.  You must have a job with at least $1,200 gross monthly verifiable income.
    2. Down Payment.  You must have some down payment in the form of cash or trade-in.
    3. Stable Residency.  Most of our participating car dealers require that you’ve lived in the area for at least 12 months but longer the better.
    4. No Recent Repossession.  One of the trade lines buy here pay here car dealers scrutinize on your credit bureau is how you repaid prior auto loans. Most will not offer financing if you’ve had repossession within the last 12 months – some will go as little as 6 months.


Keep in mind there are other qualifying criteria in order to get approved for a loan – these are a few of the most important ones.

The CarLotLoans Advantage

With over 60,000 used car dealers in the United States and only a small percentage offering buy here pay here car financing, it could take weeks if not months to find a dealer that can help. CarLotLoans has identified and contracted with a network of buy here pay here car dealers throughout the United States making the process of getting this type of loan much simpler and easier.

And that’s not all. Because we work with our own network of participating car dealers, we’re here for you after you apply. If you need assistance with one of our dealers, or would like to be referred to a different dealer, we can help.

Apply With Us

CarLotLoans serves a very specific niche: the car buyer with really bad credit. Most people need basic transportation to get back and forth to work in order to provide for the necessities of life. While the type of car you can buy from one of our network car dealers may not be the car of your dreams, it will provide you with the transportation you need.  If you’ve been turned down for a car loan in the past, and think you can’t buy a car on credit, think again.  Apply today and let CarLotLoans help you get behind the wheel of a new car.