No Cosigner Bad Credit Auto loans

Most people who have bad credits are most times unable to get approved for bad credit auto loans simply because they lack someone who is willing and qualified to cosign on their bad credit auto loans.

Sometimes back, a friend of mine who had bad credit could not get approved for a bad credit auto finance loan because the lender refused his grand mom from cosigning on his loan application. According to the lender, my friend’s grand mom was already responsible for two loans, the first is a personal loan she took up some few months back and the second is an auto loan that she cosigned on for one of her grandsons who happened to be my friends elder brother.

To sort out the problem of being unable to get approved for a bad credit auto loan my friend had to approach a lender who was willing to finance him with a bad credit auto loan without requesting for a cosigner. Although the lender was reluctant at first, he however gave in after much negotiation and liaison. All my friend had to do to get approved was to use some of his invest (stocks) as collateral to secure the loan.

Even without a cosigner to cosign on your application for bad credit auto loan, securing approval for a bad credit auto loan is still a possibility as long as you are ready to negotiate and make some compromise.

No cosigner bad credit auto loans are very challenging and virtually impossible to come by. Hence, it is recommended that you should consider negotiating with the lenders to see how you guys could work thing out instead of giving up hope on getting approved for an auto loan.

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