Most people assume that after some major financial tragedy such as a bankruptcy, repossession, or foreclosure happens that it will be a huge black mark and getting any type of financial assistance will simply be impossible but that is not true. Now of course all of those will do some massive damage to your credit score and that is inescapable. It will not be a walk in the park and the typical financing options will most likely not be open to you, but there are routes of alternative online auto financing in which you can get an auto loan.

The best way that you are going to be able to get yourself into a new or used vehicle even with these situations will be to apply online. It may on the surface seem like it is going to be a world of difference, but it is going to be very similar. The similarity is that you will just fill out an application and in the end get an auto loan. The difference is that instead of applying with just one place you are actually applying with all local dealerships in your area.

Apply with the Foreclosure

After you have gone through a foreclosure if you are worried before applying for a subprime auto loan then you will want to know a few things:

1. The foreclosure does not have to be closed.
2. It usually does not matter if you are currently living in the foreclosed home.
3. If you are currently living in the foreclosed home the mortgage payment will be included in calculating the debt to income ratio.
4. If you have moved out then your current rent or mortgage payment is going to be included in calculating the debt to income ratio.

If you want to make sure that you get approved then this is definitely going to be your best chance. The best part about these type of applications is that we can help to find you lenders that will base your approval for the auto loan by seeing if it is habitual or if it is situational bad credit. If it is going to be something that is just situational then you will have a much higher rate of approval and luckily foreclosure tends to be something that creates situational bad credit. Of course previous history will be looked at to know which is going to be the case with you.

Sealing the Deal

Whenever you are ready if you want to get the best deal and put yourself in the best situation to get a bad credit used car loan then fill out an application. It takes just a few minutes to fill it out, up to 48 hours to be contacted, and in no time after that you will be in front of a dealership discussing the final terms. Most people have the thought that only buy here pay here dealerships are going to be able to approve you for a loan after a home foreclosure, but the better option is to apply online here at FundingWay.com we can help you to get the best deal even with the worst of credit backgrounds.