I've been looking at buying a used vehicle on credit,but i'm not having much luck.I've been on disability for about 10 or more years,so i really haven't made any major purchases in a while.I now have a part time job and i have paid off a lot of my old creditors.I keep getting turned down when i go to the dealership to buy a car.I have a few children,so you can understand i don't have a lot of money for a big down payment.What are my options?I prefer to deal with a legitimate car dealer and not these high apr dealers,that take advantage of people with bad credit,or low incomes.What are my reasonable options with my situation?
2006-07-15 13:00:47 · 11 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
For once in my life I am NOT being a smarta$$ when I say this --- save up some money and just BUY yourself a cheap, ugly car that will be dependable for a long time. Bad/slow credit deals are going to slice you up and leave you for dead. You will be paying top dollar for an average car and at least four times the going interest rate. Forget a down payment, save some bucks and find a decent car in the burbs parked in front of a house that the owner wants to move because it gets lousy gas mileage. (now think about this... you can buy lots and LOTS of gas for less than a monthly payment. Your insurance rates will also be rock bottom).
The day will come when you can buy any kind of car you desire, but only if you are out of debt.
2006-07-15 13:12:52 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Buying a car is easy, even for those with terrible credit. The only thing different is that bad credit people will get HIGH intrest rates!!
I know, becuase I just did it last month. But, you have to "bit the bullet" take the high intrest up the rear end. It's all about re-building your credit.
2006-07-15 13:05:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
this nation is base on trust and credit. without credit you need to have more cash. I don't think you can find any dealer that allows you to buy on credit if your's is not so perfect. All of them do credit check first, unless the boss of a particular shop is someone you know really well.
2006-07-15 13:06:16 · answer #3 · answered by 2feEThigh 5 · 0⤊ 0⤋
I can't believe that i just read an answer from cowboybill & there is NO SARCASM.......
Not only is he not being a smart alec....
He is ABSOLUTLY RIGHT.
but i would like to add one thing to his answer...
STOP going from dealer to dealer applying for credit !
every time you do ....each dealer is submitting your application to various lenders and if each one of the lenders checks your credit
you are gonna have numerous queiries appear on your credit report and THAT WILL LOWER YOUR SCORE
so take his surprisingly sensitive advise
2006-07-15 14:34:00 · answer #4 · answered by Vicky 7 · 0⤊ 0⤋
There should be dealerships that specifically deal with your situation. Just be aware that the interest that they charge will be over the odds and they might offer you schemes where you are stuck for life. READ THE SMALL PRINT BEFORE SIGNING ANYTHING
2006-07-15 13:05:47 · answer #5 · answered by glesgaegirl 1 · 0⤊ 0⤋
Big downpayment or take the high apr for a year and refinance it. Also, try your local bank. If you own your home, they might make you a deal.
2006-07-15 13:03:56 · answer #6 · answered by Jester 2 · 0⤊ 0⤋
JD Byrider
2006-07-15 13:05:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Get a co-signer who has good credit to help you out.
2006-07-15 13:04:37 · answer #8 · answered by ninja_girl 5 · 0⤊ 0⤋
try going to a buy here pay here lot... sometimes you can find really nice cars there...Good Luck
2006-07-15 13:04:34 · answer #9 · answered by Melonie M 4 · 0⤊ 0⤋
save $$ for a huge downpayment
2006-07-15 13:02:15 · answer #10 · answered by Pipers02 2 · 0⤊ 0⤋