Second chance auto loans are financing options designed for people with bad credit, past bankruptcies, or limited credit history. If traditional lenders have turned you down, second chance car loans give you another opportunity. Most second chance auto loan lenders focus on your current income and ability to pay rather than just your credit score.

Second chance auto loan interest rates are typically higher than traditional loans because they account for increased lender risk. Rates for subprime car loan options usually range from 10% to 20% or more, depending on your credit profile, down payment, and the vehicle you choose. The best second chance auto loans come from comparing multiple lenders to find competitive terms.