You may be thinking that your bad credit pretty much takes you out of the running for the majority of auto refinance loans that are on the market today, but in actuality nothing can be farther from the truth. There is what is called a bad credit auto refinance loan that can be made to you even if you have bad credit and cannot get a more conventional auto refinance loan. The bad credit auto refinance loan is only made by a select number of auto refinance lenders, and it is not as easy to find one of these loans as some of the more popular auto refinance products that are so readily available to individuals with good credit. Regardless, the number of lenders who provide these sorts of bad credit refinance loans is fairly significant, and it shouldn't be too difficult for you to locate a lender that can accommodate you.

Before you start to do anything you must understand that to refinance an auto loan with bad credit you must at least have a significant income before you go out and decide to apply to lenders. There are a whole host of lenders who can provide you with bad credit auto refinancing, but almost none of them will be able to work with you if you cannot supply them with the proof that you make enough money to afford your car loan. This is why it is essential for you to make sure that you take an accounting of your current level of income before you go out and look for a refinance loan for a specific amount, and to go out and look for a bad credit refinance loan without an income is almost like wasting your time. The only alternative to this would be if you can find a credit-worthy cosigner that would have no issue cosigning for your car loan, but most people have difficulty locating such a person so it is important that your income is steady and available for submission to lenders.

Once you have your income in check it is then time to look for lenders who can work with you even though you have bad credit. You will first have the option of applying to the standard bad credit lenders that can provide you with a bad credit auto loan refinance. Some bad credit lenders don't provide auto refinance loans so it is crucial that you find this out before you apply to a particular lender so that you don't waste your time. Remember that these lenders will cost you more than getting a refinance loan at a more conventional lender, and how much more exactly will depend on just how bad your credit is, and the remaining factors on your application.

If you don't want to go out and find a bad credit lender then you may actually be surprised that one of the best places to get a refinance loan is at the dealership you bought your vehicle at. Dealerships have connections with an assortment of different lenders and they typically have no issue providing refinance loans to some of their customers if they are approached on a case-by-case basis. Not every dealership is able to provide refinance loans, but a good proportion do, and it is always best to personally contact your dealership to see what kind of financing products they can offer you. Bad credit auto refinancing is not that hard to get if you can put the time in to contact and apply to different lenders and as long as you stay persistent you should eventually be able to get your auto refinance loan.

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