“What are the requirements to qualify for bad credit auto financing?” This is one of the most frequently asked questions by individuals who long to buy a car with bad credit. Actually there is no more a reason for them to worry. There are companies who offer car loan programs to people with poor credit records. But first, there are certain requirements that need to be met: (1) Poor credit is acceptable; bankruptcy discharge is a no-no; (2) Clients must be at least eighteen years of age; (3) No re-controllership of car loans during the last 12 months prior to dealing with the new lending corporation; (4) Initial down payment; (5) Minimum monthly income of $ 1000 – 1500 regardless of the credit score; (5) Written agreement to transact only with dealership companies duly authorized by the lending corporation.
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