I have a foreclosure but want a new car - I've been denied. How can I get one?

Question

For those of you who choose to judge me based on the limited information I have included, please note that the foreclosure was over two years ago and was the result of my ex-husband's irresponsibility and not my own. We tried to sell, but after 4 months - no luck - it was a new build and the area was still available for new homes. I filed a quit claim deed to get my name off the actual property - but unfortunately, he was unable to re-finance in his own name, stating he would do it in the future. I have an incredible job, pay all of my bills on time, and make great money. The issue is this foreclosure...not past due on anything and never have been.

Just wanted to clarify. Thanks for your answers.

Answer 1

you're pretty much screwed, there's nothing you can really do besides a co-sign, you have my sympathy

Answer 2

You're in a bind aren't you. The only thing you can do is to find a friend or realtive to go your note that has lots of trust in you. If you have a foreclosure then you probably aren't any shape to buy a new car unless the foreclosure is past tense and you have a good job. You need to go t o a tote the note place and get a relatively good car to travel in then try to build your credit back up again. I think foreclosures staay on your record for up to 10 years.

Answer 3

I work for a car dealership and I can tell you that even if you have a co-signer your interest rate would be very high what you need to do is find someone you know who has decent credit make the purchase for you and pay them and don't miss any payments because it will effect their credit and would hurt that person's chance at buying a car or home for themselves. if you have a foreclosure and if you can file for bankrupcy then include the foreclosure and have the bankrupcy discharged wait about a month and you might get an approval with some secondary lending banks but again the rate will be high......Good Luck

Answer 4

you can get one. i know several people who have filed bankruptcy and are rebuilding their credit. there are places that will work with you. also, i have heard commercials for people who will finance cars to those with bad or no credit so i know they are out there. keep searching around, and don't be discuraged. good luck.

i had to revise after reading some of the other comments. don't worry about what anybody says. if everyone could make enough to pay for everything up-front in this economy, we would all be great. unfortunately, that's not the real world, and life has many unexpected twists and turns. it's not all about being irresponsible. there was a good suggestion though... you can go to a local auction and get a good vehicle for little $. i know, i have two. one of which was only $1000, and it has been running for almost two years through 60,000 miles.

people who make a lot of money, especially republicans, don't understand what it's like to stuggle. fortunately, material things don't mean anything. keep that in mind so that you don't worry about something you can't change.

Answer 5

That's really strange...you could qualify for a home mortgage as long as the foreclosure was at least 2 years ago and all your other credit is good...what kind of car are you trying to buy???

Answer 6

I'm a lender. You have come to me and asked if you can borrow $20,000 from me. I look at your credit and see that you didn't pay the last person who loaned you money, so I say no.

You'd do well to get your finances straightened out and your credit back up to the good side before trying to borrow more money.

Answer 7

Geez, no wonder America is so in debt. Sweetheart, get your priorities straight. Your credit is screwed; do you really need a car, now?

Answer 8

Lower your standards and pay cash for a used car.

Answer 9

You can not get a new car loan in your name. How about your parents or a friend?

Answer 10

toat the note lot-- only time past the foreclosure will help

Answer 11

I suggest you to buy a used car.