Are you in the market for a new or used car? Are you concerned that you won’t qualify for a loan? Does this have you wondering if you’ll ever be able to purchase a vehicle?

If you answered yes to these questions, you’re not alone. Many consumers are in the same position as you. Fortunately, there are a variety of steps you can take to improve your odds of a car loan approval.

1. Search Far and Wide for a Lender

There are thousands of banks and credit unions across the country that offer car loans.

The more of these lenders you speak with, the greater chance there is of finding one that is willing to lend you the money you need to complete your purchase.

2. Improve Your Credit

Your concerns about a car loan approval are probably related to a poor credit history, no credit history, low income, and/or a low credit score.

Should this be the case, there’s a simple move you can make: improve your credit before shopping for a vehicle and loan.

For example, make it a point to pay all your bills in full and on time. Also, pay down credit card balances as quickly as possible.

3. Make a Down Payment

When you make a down payment, you don’t need to borrow as much money. As a result, your chance of approval increases.

Calculate how much of a down payment you can afford and then crunch the numbers. If everything checks out, see if this helps you qualify for a car loan.

4. Borrow Less Money

The more money you borrow, the higher your monthly payment. This can lead you toward difficulty finding a lender.

But when you borrow less money, your chance of approval increases. Open your mind to vehicles at varying price points.

5. Find a Dealer That’s Willing to Help

Some lenders advertise themselves as “bad credit friendly.” Their financing departments are skilled at helping consumers secure a loan for their purchase.

Not all dealers are willing to help, but many are. Call around to get a better feel for who can assist you with the process.