Second chance auto loans in Colorado Springs, CO are designed for borrowers who have experienced serious credit events — bankruptcy, repossession, collections, or charge-offs. These programs give you a fresh start with financing that focuses on your current financial situation rather than your past.
Want a national comparison? Best Second Chance Auto Loans of 2026 — we reviewed 40+ lenders to rank the best options across all 50 states.
Editorial note: Rankings are based on approval rate, interest rate fairness, lender reputation, and customer reviews. Complete Auto Loans is ranked #1 because it provides access to the largest network of bad credit lenders in Colorado Springs — giving you the best chance of approval at the lowest rate available to you.
Colorado Springs, CO Auto Loan Market Facts
Local data to help you understand the Colorado Springs, CO auto loan market
Colorado Springs is the second-largest city in Colorado, with a population of over 500,000 in the city proper and over 750,000 in El Paso County. The city has a major military presence — Fort Carson, Peterson Space Force Base, and the Air Force Academy are all located here — which creates a large population of active-duty service members and veterans. Military borrowers have strong income stability but often have thin credit files due to frequent relocations. Colorado Springs also has a significant veteran community that may have credit challenges related to service-related financial hardships.
State Title Fee
$7.20
One of the lowest title fees in the country
Avg. Used Car Price (Colorado Springs)
$22,100
Edmunds, Q1 2026
Subprime Loan Share (CO)
18.9%
Experian Automotive, 2025
State Sales Tax on Vehicles
2.9% state + local
El Paso County adds 1.23%; Colorado Springs adds 3.12%
Rate Cap (Auto Loans)
21% APR
Colorado Revised Statutes § 5-2-201
Military Borrower Protection
36% MAPR cap
Military Lending Act — applies to active duty + dependents
CO State Law — What Borrowers Should Know
Colorado caps interest rates on consumer loans at 21% annually for loans under $75,000 (Colorado Revised Statutes § 5-2-201). This cap applies to motor vehicle retail installment sales contracts and is one of the more protective rate caps in the country. Military borrowers have additional federal protections under the Military Lending Act (MLA), which caps rates at 36% MAPR for active-duty service members and their dependents — though Colorado's 21% cap is already lower than the MLA cap.
Frequently Asked Questions
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Local Colorado Springs Dealerships
Low-to-no credit auto loans with quick approvals in Colorado Springs.
Bad credit auto loans for various vehicles in the Colorado Springs area.
These local Colorado Springs dealerships serve El Paso County and surrounding areas. Complete Auto Loans connects you with the best financing option for your situation.