Written by: Eric Bank
Edited by: Lillian Guevara-Castro
Reviewed by: Ashley Fricker
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Key Takeaways
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You can qualify for many personal and auto loans with bad credit and no cosigner. These loans will typically come with high interest rates.
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A cosigner with a better credit score may help you qualify for a loan with lower interest rates, but the cosigner is also responsible for the loan.
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Other loans that bad credit borrowers may qualify for without a cosigner include HELOCs, secured loans, and pawnshop loans.
Using a cosigner can be a tricky business, one that can easily bruise feelings, destroy trust, and hurt credit scores. That’s why we’ve come up with a comprehensive list of lenders and networks that will lend to bad credit borrowers without requiring a cosigner.
If you’d rather not subject yourself — or a cosigner — to a lot of potential drama, take note of these reviews. We also include a few networks that specialize in auto loans.
Personal Loans That Don’t Require a Cosigner
Typically, the personal loans arranged by these lender-matching services have terms that vary widely and APRs that top out at close to 36%. These services are free to consumers (the lending-matching service charges no origination fee) and imply no obligation to accept a loan.
You may be able to arrange an unsecured loan without a creditworthy cosigner even if you have a bad credit score as reported by a credit bureau, although a cosigned loan is often easier to obtain.
- Personal loans from $500 to $35,000
- All credit types are considered and welcome
- Simple, no credit impact form
- Helping consumers since 2001
- 4.7 out of 5 Trustpilot rating with 2,000+ reviews!
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $35,000 | 5.99% – 35.99% | 60 Days to 72 Months | See representative example |
24/7 Lending Group can help you find the best personal loan for your circumstances; good credit is not required. You may qualify for an installment loan or a short-term payday loan, depending on the results of a soft credit check.
Borrowers can apply for up to $35,000 in financing, but don’t expect anywhere near that amount if you have a subprime credit score. You’ll likely qualify for something closer to the minimum personal loan amount of $500.
Pros
- Works with most credit types
- High marks in online reviews
- Apply with no credit impact
Cons
- Potential for very high interest rates
2. Upstart
- Personal loans starting at $1,000
- Find loans you prequalify for, complete your application, and close your loan
- Loans for 300+ FICO Scores
- Checking rates doesn’t impact your credit score
- Powered by Credible
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $1,000 to $50,000 | 6.49% – 35.99% | 1 to 5 Years | See representative example |
Upstart uses its extensive lender network to provide borrowers with installment loan term offers, subject to state regulations. The company’s website is extremely helpful, offering a variety of online resources, including loan calculators.
The company won’t sell your information and is rated Excellent on Trustpilot with more than 50,000 reviews.
Pros
- Some of its lending partners specialize in loans to bad credit loans
- Offers online resources, including a loan calculator
- Highly rated in online reviews
Cons
- Bad credit borrowers will likely see the highest interest rates
- Loan terms start at three years
3. MoneyMutual
- Short-term loans up to $5,000
- Online marketplace of lenders
- Funds available in as few as 24 hours
- Simple online form takes less than 5 minutes
- Trusted by more than 2 million customers
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $5,000 | Varies | Varies | See representative example |
MoneyMutual has connected more than 2 million borrowers with lenders on its network. The company can help you find both short-term cash loans and longer-term personal loans.
With this choice, you can obtain a cash payday loan that you quickly repay or a bad credit personal loan with repayment terms that vary.
Pros
- Welcomes bad credit borrowers
- Quick and secure application process
- Funds deposited in as few as 24 hours
Cons
- Variable interest rates that are likely much higher for those who have bad credit
- Lender repayment terms and fees may vary widely
- Small personal loans starting at $100
- Receive an approval decision in as little as 2 minutes
- Funds can be deposited into your account in one business day and used for any purpose
- No hidden fees
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $20,000 | Varies | Varies | See representative example |
SmartAdvances.com uses an extensive network of public lenders to match you to a provider of short-term cash advances. If an online lender approves your application for an unsecured loan, the proceeds will be transferred as quickly as the next business day directly to your financial institution.
This network encrypts all transmitted data to help ensure that your information will remain secure and private.
Pros
- Loans starting at $100
- Funds deposited as quickly as one business day
Cons
- Bad credit borrowers will likely pay high interest rates
- May not be available to borrowers in all states
5. CashUSA.com
- Loans from $500 to $10,000
- Receive a loan decision in minutes
- Get funds directly to your bank account
- Use the loan for any purpose
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% – 35.99% | 3 to 72 Months | See representative example |
CashUSA.com can put you in touch with lenders offering fixed-rate personal loans in a variety of loan amounts and terms. To prequalify, you must be a U.S. citizen or permanent resident, at least 18 years of age, with an after-tax income of no less than $1,000 per month, as well as a valid email address, phone number, and active checking account registered in your name at a bank or credit union.
Upon prequalification, CashUSA.com will match you to a direct provider of personal loans where you can expect a quick decision and, if approved, next-day funding.
Pros
- Loan decisions in minutes
- Minimum loan amount of $500
- Works with bad credit borrowers
Cons
- Potentially high interest rates
- May receive a lot of calls and emails from loan providers
- Loans from $500 to $10,000
- Get connected with a lender
- Simple form & quick funding
- Get your money as soon as next the business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% – 35.99% | 3 to 60 Months | See representative example |
BadCreditLoans.com can connect you with lenders who may provide between $500 and $10,000 with loan terms that generally from three months to five years. Its lending network partners are experienced in working with bad credit borrowers, and you can receive multiple offers from one quick application form.
If approved, you can have your funds deposited in your account as soon as the next day.
Pros
- Funding as fast as the next day
- Lenders have experience with bad credit borrowers
- Loans start at $500
Cons
- Applicants with bad credit could face extremely high interest rates
- Residents of some states may not qualify
- Personal loans of up to $50,000
- All credit types welcome
- Receive funds in as little as 24 hours
- Fast approval decision
- Safe and secure application
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $50,000 | As low as 6.40% | Varies | See representative example |
Loan for Personal works with lenders that consider applications from borrowers of any credit stripe. While a bad credit score may not qualify you for the best rate, Loan for Personal can connect you with lenders that will offer loans fast.
Network lenders can finance loans up to $50,000, but you’ll likely need a sterling credit score to receive that much.
Pros
- Bad credit borrowers are welcome
- Fast application and funding processes
Cons
- Potential for very high interest ratesXXX
- Network lenders don’t service every state
- Get up to $5,000 as soon as tomorrow
- Easy to use & only takes a few minutes
- Instant answers from lenders who want to work with you
- Funds deposited directly into your account
- All credit types welcome — good or bad
- See official site, terms, and details
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $5,000 | Varies | Up to 180 Months | See representative example |
LendingStore.com welcomes applicants of any background, and some of its lending network partners specialize in bad credit loans. The network specializes in emergency funding for unexpected expenses, which is why it also can deposit the funds as soon as the next day.
Loan amounts range from $100 to $5,000, and loan length is even more flexible, with terms as long as 15 years.
Pros
- Works with bad credit borrowers
- Loan amounts as low as $100
- Quick application and fast answers
Cons
- Variable interest rate, but likely higher for bad credit scores
- Larger loan amounts could require collateral
- Personal loans up to $5,000
- Access to a network of lenders
- Funds could be yours in as little as one business day
- Quick, easy online application
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $5,000 | Varies | Varies | See representative example |
One Loan Stop has a fast application process and its lenders frequently work with bad credit borrowers. It returns loan offers from its network in real time, so you’ll know what you qualify for without having to wait around.
If you run into unexpected expenses, you can also secure a short-term loan through One Loan Stop. Lenders in its network typically offer up to $1,000 with a 30-day term for these payday-style loans.
Pros
- Works with all credit types
- Loan amounts as low as $100
Cons
- The lower your credit score, the higher the interest rates
- May not be available in every state
Auto Loans That Don’t Require a Cosigner
These dealership networks can put you into your next vehicle despite having bad credit. You also may be able to arrange cash-out refinancing on your current car. Trade-ins and down payments improve your prospects for loan approval, with or without a cosigner.
- Network of dealer partners has closed $1 billion in bad credit auto loans
- Specializes in bad credit, no credit, bankruptcy and repossession
- In business since 1999
- Easy, 30-second pre-qualification form
- Bad credit applicants must have $1500/month income to qualify
- See application, terms, and details.
| Interest Rate | In Business Since | Application Length | Reputation Score |
|---|---|---|---|
| 3.99% – 29.99% | 1999 | 3 minutes | 9.5/10 |
Auto Credit Express can match you to a dealer via its nationwide network to help you obtain a vehicle loan on affordable terms, even when you have a less-than-good credit score. It takes only a minute to request and prequalify for an auto loan. You should be quickly contacted by a nearby bad credit car dealership that can complete your loan before the day ends.
Pros
- Works with borrowers with significant credit issues
- Quick application process
- In business for more than 25 years
Cons
- Potential for very high interest rates
- Loans may be tied to a specific dealership or network
11. LendingTree
- Auto loans for purchase, refinance, and lease buyouts
- Nationwide lender network
- Get matched with up to 5 lenders that fit your financial profile
- It only takes a few minutes and is free with no obligation
- See application, terms, and details.
| Interest Rate | In Business Since | Application Length | Reputation Score |
|---|---|---|---|
| Varies | 1998 | 4 minutes | 9.5/10 |
LendingTree works with a network of dealers that are comfortable arranging loans for bad credit consumers, even those who have gone through past bankruptcy. You can complete the online request form in just a few minutes to receive preapproval and be matched with up to five offers from its nationwide online lender network.
You don’t need a creditworthy cosigner to obtain a loan for a new or used car, and you may also qualify for cash-out refinancing on your current vehicle.
Pros
- Works with a national lending network
- Can find loan offers for bad credit borrowers
Cons
- Bad credit borrowers will likely see the highest interest rates
- Limited to five financing offers
12. myAutoloan.com
- Loans for new, used, and refinancing
- Queries a national network of lenders
- Bad credit OK
- Get up to 4 offers in minutes
- Receive online loan certificate or check within 24 hours
- See application, terms, and details.
| Interest Rate | In Business Since | Application Length | Reputation Score |
|---|---|---|---|
| Varies | 2003 | 2 minutes | 8.5/10 |
MyAutoLoan.com can swiftly get you up to four car loan offers via its network of dealerships that feature buy here, pay here financing. The company’s website offers several valuable online tools, including an interest rate estimator, the latest car loan APRs, and a loan payment calculator that uses current car loan interest rates.
If you have equity in your current car, you can quickly arrange a cash-out refinancing loan.
Pros
- Welcomes applicants who have bad credit
- Provides online resources for research
- Fast application process
Cons
- Interest rates will likely be on the highest end for those who have bad credit
- Not available in all states
What is a Cosigner?
A cosigner is a person, often a family member or friend, who pledges to repay an unsecured debt if you fail to do so. It can be a beneficial arrangement, but serious problems may arise when the borrower doesn’t follow through with timely payments.
Typically, a cosigner has a good credit score. Anyone who is willing to put their credit on the line to vouch for you can assume this role. Parents often cosign student loans for their children, and adult children may help elderly parents by cosigning a mortgage for property at a retirement village.
Lenders value the extra security that this arrangement provides, as it reduces the risk of default. A cosigner can not only increase access to loans, but may also help the borrower get a lower interest rate.
Borrower benefits
- Increased loan approval chances
- Potential lower interest rate
- Possible larger loans or credit lines
Obviously, cosigners undertake plenty of risk when they agree to guarantee the debt of someone with bad credit. After all, they are now obligated to repay the loan, and their credit score could be put in jeopardy should the borrower prove unable or unwilling to repay.
Cosigner risks
- Financial liability
- Potential negative credit score impact
- Possible limits on future access to credit and loans
So what’s in it for the cosigner? Often it’s nothing more than the satisfaction of helping a friend or family member. Cosigners may feel enormous pride when they help a child get their first credit card or loan, especially if cosigning helps to garner a lower interest rate.
Can I Get a Bad Credit Loan Without a Cosigner?
We’ve made the point several times that secured loans are easier to get, even when you have bad credit and don’t use a cosigner. In this article, we’ve limited our discussion of secured loan offers to automobile dealership networks, but you can also arrange secured loans in several other ways, including:
- Home equity loans and home equity lines of credit (HELOCs), in which you can cash out some of the equity you’ve accumulated in your home. Equity is the amount that an asset’s value exceeds the current amount of debt owed — in this case, your mortgage balance. FHA loan programs can help mortgage lenders provide excellent loan terms — it’s hard for mortgage lenders to beat an FHA loan.
- Collateralized bank and credit union loans, in which you post cash, securities, or personal property to secure a loan.
- Pawnshop loans are a type of secured loan collateralized by your personal property, but they are expensive, and you can easily lose the property if you don’t redeem it by a set date.
- You may be able to get a cash advance from a credit card, but this type of loan begins accruing interest right away and doesn’t provide the normal credit card grace period for purchases.
Because these are secured loans, you won’t need a cosigner to receive approval.
In terms of unsecured loans, the lender networks we’ve reviewed here all serve bad credit consumers, and none mandate the use of a cosigner. But let’s be clear — it doesn’t hurt to apply with a cosigner.
But for many consumers, this isn’t a realistic prospect, which makes these networks all the more valuable.
Some lenders will provide you with a future income-based loan even when you currently have a low credit score or no score at all. A future income-based loan is a relatively new product that has slowly become more popular among younger borrowers.
Can I Get a Student Loan Without a Cosigner?
You can get most federal student loans and student loan refinancing, including Perkins Loan and Stafford Loan programs (for an unsubsidized or subsidized loan), without a cosigner. But cosigning is a standard operating procedure for a private student loan lender.
Federal Student Loans
Undergraduates applying for a Direct Student Loan (also called a Stafford Loan) or Perkins Loan can sign the loan agreement on their own — there is no provision for cosigning.
You apply for a federal loan (for either an unsubsidized or a subsidized loan) and other student aid through the Free Application for Federal Student Aid (FAFSA®) program, for which there is no origination fee, and your credit score plays no part in the process.
However, graduate and professional students may apply for a grad PLUS loan that accommodates a cosigner (or co-endorser). The need for a cosigner on a grad PLUS loan can come about when the student has an adverse credit history, such as:
- Delinquency
- Default
- Write-off/charge-off
- Bankruptcy
- Repossession
- Foreclosure
- Garnishment
- Tax lien
If you have one or more derogatory items on your credit report, chances are you’ll need a cosigner for a Grad Direct Plus Loan.
The Parent Direct Plus Loan program is one in which the parent takes out a federal loan on behalf of an undergraduate. To be clear, the parent is the loan signer, not its cosigner. Moreover, the parent owns the loan and is responsible for repaying it.
Private Student Loans
Private lenders, from large national banks to online student loan providers, often require a parent to cosign a student loan. This is not surprising, since most students have little or no credit history.
While private student loans lack many of the beneficial features found in federal student loans, they can be customized to the needs of the borrower. They can also provide consolidation and refinancing options unavailable from federal student loans.
For example, only a private student loan lender can consolidate a mix of existing private and federal loans.
Private student loans may be taken out by a student or a parent. When a student signs for a private loan, the chances are that a parent will cosign it, thereby guaranteeing payments. Conversely, a private loan taken by the parent will not need the student’s signature.
Can I Get a Personal Loan With a 450 Credit Score?
The personal loan networks reviewed above work with customers of every stripe, including ones with a minimum credit score. And make no mistake, you have to work pretty hard to drive your credit bureau score into the 450 neighborhood.
As this chart shows, 450 is considered poor, well below the average FICO credit score.
| FICO Score Categories | Score Range |
|---|---|
| Exceptional | 800-850 |
| Very Good | 740-799 |
| Good | 670-739 |
| Fair | 580-669 |
| Poor | Below 580 |
While relatively few consumers with very poor credit will qualify for a personal installment loan or a business loan, there are ways you can win approval despite your gloomy score.
Significantly, you can request preapproval when you contact one of the online installment loan networks. Your credit score is not a criterion for preapproval. Rather, the factors that matter are:
- The status of your citizenship or residence.
- Your age — most states require you to be at least 18.
- You must have a Social Security number, email address, phone number, and an active checking account in your name.
- You must reliably earn a stated minimum amount of monthly income. For example, CashUSA.com requires you earn at least $1,000 per month.
While some direct lenders will simply turn down applicants who have a 450 credit score, others may look for ways to say “yes.” For example, if the damage to your credit score took place several years ago, and you’ve been an angel since, the lender may approve the loan based on your monthly income.
In any event, the lender almost certainly will do a hard pull of your credit before finalizing an offer. Here are the most significant differences between hard inquiries and soft inquiries:
| Hard Credit Inquiry | Soft Credit Inquiry |
|---|---|
| Visible to anyone who pulls your credit reports | Not visible to others who pull your credit |
| Can impact scores for up to 2 years | Won’t impact your credit scores at all |
| Requires your direct permission or an application for credit | Does not require your direct permission or an application for credit |
Naturally, consumers with low credit scores are likely to be charged the lender’s maximum APR (usually around 36%) if their personal loan applications are approved. In addition, expect a long repayment term, up to six years, so each monthly payment is as small as possible. While this makes the bad credit loan more affordable, it also maximizes the overall interest charges.
You can short-circuit the drama of a 450 credit score by having a cosigner for the loan. The loan’s characteristics will be based on the cosigner’s credit rather than yours. We see again that a co-signature can act as a key to unlock a personal loan that would otherwise be inaccessible.
What Credit Score is Needed For Auto Loan Approval?
For the auto loan networks reviewed above, your credit score may not be the decisive factor in getting loan approval. Your down payment and the total loan amount will be significant factors. These loans are also secured by your car, so the dealer can repossess it if you stop making loan payments.
Of course, you’re likely to access more (and better) financing deals if you can improve your FICO credit score to 600 or more, as demonstrated by the chart below using Experian data from Q2 of 2024:
| Credit Score | Average APR (New) | Average APR (Used) |
|---|---|---|
| Deep subprime: 300-500 | 15.77% | 21.55% |
| Subprime: 501-600 | 13.18% | 18.86% |
| Nonprime: 601-660 | 9.83% | 13.92% |
| Prime: 661-780 | 6.87% | 9.36% |
| Superprime: 781-850 | 5.25% | 7.31% |
You can improve your prospects by depositing a down payment and/or supplying a trade-in vehicle. The larger the deposit and more valuable the trade-in, the more likely you’ll obtain loan approval. Cash-out refinancing is even easier since you are supplying the vehicle upfront.
It never hurts to raise your score before applying for credit. That means paying your bills on time, keeping your debts in check, and fixing mistakes in your credit reports. You can clean up your credit reports yourself, or use a credit repair agency to do all the hard work.
Research Bad Credit Loans That Don’t Need a Cosigner
We don’t think you should need to have a cosigner all up in your business to get a loan, even when your credit is bad.
If you agree, then this review of bad credit loans that don’t need a cosigner is meant for you. You can follow up for more information and prequalification by visiting a lending network’s website.
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