When applying for used car loans with less than perfect credit scores there is a good chance that you will have much higher success rate at a credit union than you would at a bank. It is likely that you are not going to be approved, but if you have bad credit and are a member of a credit union you might as well go ahead and give it a shot. There is always a chance and it would be well worth the effort to go ahead and try. After many years of experience we here at FundingWay.com have learned many practices that you can utilize that will increase your chances of getting an auto loan. It is a long shot to get approved for bad credit used car loans from a credit union but it can not hurt to give it a shot.

Credit Union Difference

Most people don't think that there is any difference between a credit union and a bank, but in fact there is going to be differences beyond the fact that a bank is national and a credit union is not typically. The biggest difference between the two is that a credit union is not owned by a corporation, but is instead a non profit organization that is owned by its member customers. This is going to result in them being able to be much more competitive with their prices than banks. Most of the time they are going to have more lenient requirements and lower interest rates. This is not always the case, but if it is for your credit union then that can very easily work to your advantage for high risk auto loan approval. You are typically going to receive much better service from a credit union then you are a bank which is always a great thing. One service feature you likely may miss out on though is 24 hour service and online services.

Applying for the Loan

If you need to apply for a loan with bad credit will be best to go in and apply that way. Typically that will be mandatory for a credit union, but if it is not it is good practice. Keep in mind though that it is likely you are not going to be approved for the loan. If you do not succeed though there are more options that just a buy here pay here dealership. We can help you to get approved for an auto loan even with some of the hardest credit situations all with you just taking a few minutes out of your day to fill out our free application. In as quick as just a few hours you can be discussing options for a loan. If you want to get pre approved for an auto loan today then look no further than FundingWay.com.