Bad credit really is a broad term.  Bad credit is in the eye of the beholder but generally means credit history that has blemishes or is less than perfect.  There are almost an endless amount of credit score cards, lenders, financing options, and reasons credit will need to be looked at so it’s important to determine what is the curve on which your credit will be graded.  If you are applying for an auto loan and your dealer sends you to a bank that only approves 800 fico scores and above, you must have very good credit to get approved; anything below a 720 score could be considered “bad credit”.

For the purpose of an auto loan, I will set the bar for you.  If you have a credit score below 660, have late payments on your car, home loan, or installment loans in your history, or if your debt ratio to available balance is higher than 50%, you could be considered “bad credit” and should consider a program that works with people who have bad credit to secure your next auto loan.

High risk auto loans, sometimes called bad credit auto loans, special finance auto loans or credit reestablishment loans, are auto loans made to customers that have either no credit history, a FICO score below 650, or other blemishes on their credit report that would cause a conventional lender to turn them down.