When you’re in the market for auto financing, knowledge is power. With a variety of online auto loan options, the average consumer can be left wondering what is their best option. No two people are alike and no two situations are the same. Subprime auto loans are specifically designed for individuals that have suffered from credit challenges in their past. Below you will find the most commonly asked questions people have about online auto loans. If you have a question about automotive finance that isn’t listed, please call or contact us.


What is CreditYES®?

We are a service that pre-qualifies people for auto loans online and connects them with dealerships in their area.

Is CreditYES® a lender?

No. We pre-qualify you and send your information directly to a reputable dealership near you.

Is there any cost or obligation?

No. Our services are free and without any hidden costs. There is never an obligation for you to buy.

Are you based in the United States?

Yes! Our corporate offices are located in Vancouver, WA, and our call center is located in Nashville, TN.

Does CreditYES® save time?

Absolutely. Everyone knows the most painful aspect of car buying tends to be financing. By pre-qualifying you in advance, the dealership already has the basic (and most important) information needed to “close the deal”. By handling the auto loan process online before you even step foot on the lot, CreditYES® makes car shopping much more convenient.


Can I still get pre-qualified if I have bad credit?

Yes! We work with people of all credit backgrounds. Bad credit, no credit, divorce, and even bankruptcy doesn’t stop you from being pre-qualified for an auto loan. Our dealerships have great relationships with reputable subprime auto loan lenders nationwide.

How does it work?

The first step in the process is completing our pre-qualification application. After you click submit, one of our credit experts will give you a call (usually within 5 minutes) to review and verify your information. During the conversation we will ask about your new vehicle preference, what trade (if any) you have, and if you have a preference in dealerships near you. Once the pre-qualification process is complete, we will give you an indication of the top level amount you’re qualified for and will even set up an appointment with the dealer of your choice.

Do I need to have a down payment or a trade-in?

No. We have pre-qualification options for individuals who don’t have a down payment or a trade.

What vehicles can I purchase?

Since we have a massive dealer network, the choices are almost endless. Cars, trucks, vans, SUVs. All makes and models. New and late model used vehicles.

Do I need to have a high credit score to purchase a vehicle?

While there is a minimum score that is needed in order to purchase a vehicle, the requirement varies amongst different lenders. FICO scores can range from between 300 to 850, with the a lower number signifying a lesser score. Having a lower credit score can make purchasing a new vehicle more difficult.

If you have a lower credit score some lenders will require you have a co-borrower on the loan, however this isn’t always the case. CreditYES® works with dealerships who have specific subprime auto loan options tailored to people with less than perfect credit. Just because your credit score is below 600 doesn’t mean we can’t get you into a new vehicle.

What are the requirements for pre-qualification of an auto loan?

It is important to know that there are some specific requirements for getting a subprime auto loan. These requirements include:

  • At least $1,800 of monthly pre-tax income and proof of that income (paystub).
  • If you’re employed, it’s best to have about 6 months working at your current job. Additionally, 3 years total employment history is ideal.
  • Proof of residency (utility or tax bill showing the address listed on your application).
  • Personal references complete with names, addresses, and phone numbers.

How much can I pre-qualify for?

The lender will ultimately determine how much you may borrow. The three biggest factors that subprime auto lenders take into account when determining a total amount financeable are:

  • Credit Score
  • Income
  • Debt to Income Ratio

The only way to learn exactly how much you can get approved for is to apply.

What’s the difference between auto dealerships and Buy-Here-Pay-Here lots?

Buy-Here-Pay-Here auto lots (commonly referred to as BHPH dealers) sell cars and provide finance in-house. There is no 3rd party lender involved. A big disadvantage to a BHPH dealer is inventories typically consist of older model, higher mileage vehicles. If you’re looking for a new or late model used car, you’ll generally be out of luck. Many Buy-Here-Pay-Here lots also require down payments and may also insist you make payments in-person.

BHPH dealers should be viewed as a last resort option, especially considering many of these dealers don’t regularly report payments back to the credit bureaus (so your credit score sees no improvement while you’re paying your loan on time).