The phrase denotes a specific type of financial product designed to assist individuals with poor or limited credit history in acquiring vehicle financing. It typically features loan structures and approval criteria tailored to borrowers who may not qualify for traditional auto loans due to past credit challenges. For example, individuals with prior bankruptcies, repossessions, or consistently late payments might find this lending avenue a viable option for obtaining transportation.
These offerings can be instrumental in rebuilding damaged credit profiles. Successful repayment of the loan contributes positively to credit scores over time. Historically, access to reliable transportation has been a significant barrier to employment and overall financial stability for individuals with impaired credit. These programs aim to mitigate that barrier, fostering economic opportunity and enabling participation in the workforce.