Is their a way for me to trade in my car for a more expensive car with bad credit?

Question

OK heres my situation...I have a 2000 vw jetta that is a complete lemon...literally every other month something breaks.....or needs to be serviced....im a poor college student and vw's are expensive to service.....so i was wondering if it was possible to trade in my car that i still owe like 7k on and some how get a new car like a 2006 honda civic......keep in mind im young with practically no....or bad credit at this point.....but right now i would be willing to pay the highest intrest rate and then at some point just paying more then my monthly car note to avoide that....if its possible somebody let me know how to go about this....

thanks

Answer 1

You can try getting a car loan through http://www.roadloands.com they help people with bad credit. You can also try barnone.

Answer 2

I agree with BOSTONIANINMO. Sure, new car sounds nice, but do you really have the money to make $500 or more payments? Your 7k that's left on the car is nothing but negative equity that would go towards your a new car. So, in going to a dealership to trade in your 7k mile, 6 year old car....you'd get PROBABLY 3-4k for it, but then they'd tack on the rest of the money to the new car. So, a Honda civic is about 22k by itself...add your 3-4k of negative equity and you're looking at almost 28k for a new car. Even with extremely good credit, your payment will start at no less than $500 to $600!!!

Talking about asking for your credit to be shot if you miss a payment on a new car loan!!! Plus, do you have the means to justify income to get a new car?

Keep the car you have, continue paying on it...which should help build your credit, if it's in your name. And drive it less. Your car probably needs some rest!

Trust me, you will thank yourself later!

Answer 3

You're going to find that it will cost you much more for the Civic than the payments and repairs on your Jetta.

You said it yourself, you're a poor college student with bad credit. You'll only be digging your financial grave by trying to trade in your current vehicle.

Can you honestly afford $500.00 a month car payments?? As it is, you are upside down on your current vehicle. That will be added on to the note for the Civic. With bad credit, you'll be at or above $500.00 very quickly.

Best bet: Park the VW and take the bus or carpool.

Answer 4

you do not favor to be procuring a sparkling motor vehicle on the on the spot. Take what money you may and purchase a beater. you do not want a motor vehicle charge on the on the spot. once you start up getting decrease back on your ft, you may improve your motor vehicle. do no longer take out more effective debt if you're attempting to get out of debt. i comprehend it truly is an emotional time on the on the spot. Making large judgements is hard. I do only not favor to work out you get your self in deeper by using making a foul determination in such an emotional state. you'd be happier that you purchased a beater looking decrease back 2 years from now. sturdy success and that i'm sorry to hearken to about your loss.