Free preview · from the dealership side of the desk
If your credit has taken some hits, every “no credit, no problem” ad starts to look like a lifeline, and some of those lots really will put you in a car today. The question is what it costs. At 20% over five years, a $15,000 loan costs about $8,800 in interest, more than a prime borrower pays at 6% on a $30,000 car.
Subprime lending isn’t a scam by default; lenders take real risk, and risk costs money. But it’s where pricing is least transparent and buyers have the least leverage. The first thing to know is that subprime through a dealer and buy-here-pay-here are two different worlds: in the second, the dealer is the lender. Below: what subprime actually costs as of 2026, a worked example, trackers and starter-interrupt devices, questions to ask before signing, alternatives to try first and how to rebuild credit with the loan.
Members read the rest · 9 more sections
In the full guide
- Two different worlds
- What subprime actually costs as of 2026
- Worked example: the rate is not the only cost
- Trackers, starter interrupt devices and repossession
- Questions to ask before signing
- Alternatives to try first
- Rebuilding credit with a car loan
- Your game plan
- What to say
Knowledge Hub membership · $49/mo, cancel any time
Read the full guide — join the Knowledge Hub, $49/mo, cancel any time
Every guide, checklist and script we use with clients, written from the dealership side of the desk, with new material every month. Start with a free account; you land right back on this guide.
Read the full guide — $49/moAll Hub guides
Cancel in one click; no contract. Members also get the checklists and scripts that go with each guide.