Bad credit new car loans. See the best new cars for bad credit based on income and down payment for December 2023
At AutoByPayment.com we do not limit, or force, our picks for the Best New Cars for Bad Credit to achieve a top 10, top 15, or top 20 list. When a vehicle meets our criteria it’s included on our list. Each vehicle that made the list for December 2023 has met our criteria of a manufacturer's rebate over $250 and trim level with a starting MSRP under $25,000 after the rebate is applied.
Bad credit lenders typically approve new car loans for people with credit scores between 500 and 600 with 10% down and payments under 12.5% of their gross monthly income. Suggested down payment and recommended annual income amounts for each of our picks are based on these guidelines.
The Suggested Down Payment for each vehicle has been reduced by the amount of the manufacturer’s rebate. All payment estimates are based on 72 months and the average interest rate for bad credit new car loans with credit scores between 501 and 600 of 11.72%. Payment estimates include tax, title, license, and dealership documentation fees based on national averages.