You desperately need a car. You achieved this realization after several tiring months of commuting from your home to your office and vice versa. But your major problem is this: you have a bad credit score. You have incurred such because of making late repayments on most of your debts.

Does this mean you have to say goodbye to your dream of owning a car? Of course not, because a lot of companies are now extending bad credit car loans to people like you!

But before you go on an impulse selection, allow us to list some of the vital questions you need to ask before you finally settle for a bad credit car loan.

Questions on Bad Credit Car Loans:

1. What is the interest rate?

   You need to ask this so that you will know how much you will be paying on the car loan program you will get. Remember to get only the bad credit car loan that offers an interest rate of at least 7%.

2. What fees apply on my car loan?

   Be upfront in asking about the fees and charges that will be imposed once you apply for a car loan. Some credit firms require no processing fees at all, whereas some could oblige you to pay fees amounting to $150 or more. So try shopping around for bad credit car loans and even secured car loans that require the least number of fees.

3. How frequent will I be required to make repayments?

   Know how often you will be paying for the auto loan you plan to get. Most credit firms require monthly repayment, but others could also oblige you to pay twice a month. Consider your income and monthly expenses so that you could get a repayment program that will work to your advantage.

4. How long will it take me to repay the whole car loan?

   Ask how soon you can finally settle the loan that will be extended to you. Think of the duration of the auto loan for different options like secured car loans and personal car loans. And then decide which of these loans will be suitable to your needs and expectations.

5. What is the total cost of the loan?

   Know the total amount you will pay for the car loan. You could ask the car loan consultant to provide you a breakdown of the interest payments and the fees that will be charged on your loan, aside from the principal amount you have borrowed.

Can I make repayments without being penalized?

Ask the credit firm if it is okay to pay ahead of schedule. If this is not possible, then ask how much fee will be charged if ever you decide to repay the loan earlier.

Be armed with these questions and eventually you will know much about bad credit car loans. Then, use these questions for you to finally choose and settle for the car loan that will empower you to purchase the car you need.