In the United States, credit scores range from 300 to 850, and in July of 2017, the nation seemed to rejoice when FICO reported that the average credit score had reached an all-time high of 700. For those still struggling to recover from poor credit history, however, this news probably felt like another setback. If you have a low credit score, you are not alone; according to U.S. News, those with scores below 600 still represent about 20% of Americans. If you fall into this group of consumers, obtaining financing can be difficult, to say the least, but it is not impossible. If you are wondering how to get a car loan with bad credit, take the following three steps to put yourself in the best position for getting your car loan application approved.

According to Cars.com, the average price of a new car in 2017 was $30,400 – more than 50% of the median household income in the United States. This means, if you need a car, you probably need a loan, too. Choosing the right lender (especially if you have poor credit) to finance your new vehicle is just as important as finding the right car to take you where you need to go. 

Taking a loan out to purchase a car is a big financial decision and will affect your budget for a long time. Choosing a loan package and vehicle are decisions you want to make with confidence. Read on to learn about potential pitfalls to be sure you find a trustworthy lender and the best car loans. 

In the Market for a New Car? - Here's the 2018 Best Cars for Resale While most car buyers consider the sales price one of the most significant figures when choosing a new vehicle, the experts at Kelley Blue Book recommend shoppers consider a number they won't find on any window sticker: the resale value. That’s why the vehicle valuation specialist has named the 2018 model-year brand and category winners of the annual Best Resale Value Awards, recognizing vehicles for their projected retained value through the initial five-year ownership period.