A long distance between work and home causes you to have a longer commute every day. Plus the public transport is not always reliable so it is essential that you have your own car.

Your credit report consists of all your financial details. It will include details of any payments that you have missed, late payments and even a bankruptcy.

In these testing times, it is easier to fall short of cash and even one delayed payment will cause damage to your credit score. So it is essential that you improve your credit score. You can do so by clearing all your debts gradually and by making your loan payments on time. Showing the creditors that you are trying hard to improve your credit score can help you earn few brownie points.

Sub-prime lenders have become heroes in the time of crises. You can also get loans from a subprime lender or a second chance auto lender who specializes in giving loans to individuals with bad credit score. These lenders are useful when everyone else denies you a loan.

Lenders would always be wary of your credit score and so they may be unwilling to pay you loan for the entire amount of your car, in this case, what you can do is pay down payment up to 20% or may be more than that. If you do this, then the lender would be more secured of his money. A large down payment is always a useful means to get your loan accepted.

If you have bad credit, then applying for an auto loan along with a co-signer is also another option. A co-signer is someone who assumes the responsibility of debt with you. If you have a co-signer who has a good credit score then the confidence of the lender increases even more.

For buying your perfect dream car you may also have to pledge your assets. This will give security to the lender about the repayment of his loan amount in case you missed any payment and this will benefit you with instant auto loan approval.

Buying your dream car is an important step in your life, it is essential that when it comes to financing, you take an informed decision. So before you sign the dotted line understand what you are getting into.