Looking to finance new "2006" Hyundai Santa Fe. Credit score of 503 and little cash, no trade in. Ideas??

Question

and, no, this is NOT an ad to buy one from someone on here. I'm asking for ideas because of my poor credit score, and little money down. However, I do have a job that has been held for over a year. Make $13.50/hr, and rent is only $625/mth. Looking to hear the best way to get into a new 2006 model vehicle within the next month.

i know that hyundais are fairly easy to get into. and, i also would like more of a family car....something bigger than a sedan. is this going to be possible?

how would i find out where to finance a used car then? the problem with them, is that there is no rebate, which would really help offset the down payment that i will have only a little of.

Answer 1

I just bought a used 2006 Trailblazer with less than 10k miles. Because the brand new vehicle is going to depreciate so much almost immediately, it made more sense to buy an almost new truck. I saved almost $10,000 from what the same truck would have cost at the Chevy dealer. That's a lot more than I would've saved with rebates. I got mine through CarMax, they have a lot of selection and I think they have a lot of financing options as well (although I'm not sure because I brought my own financing). Another option is to shop around for financing once you have the vehicle picked out. A lot of times you can find better rates than what the dealer can give you. Go to several different banks and get quotes and see who gives you the best rate. (This may put hits on your credit though, sometimes it can look bad to have too many inquiries in too short of a time.)

Answer 2

I knew a general manager at a high end car dealership - by age 50 he had never bought a new car - it's just too much of a depreciation.
My recomendation, get a car a two or three years old at a much reduced rate - you should still be able to finance it, possibly more so, since the car won't take a huge depreciation when you drive it off the lot.
Also, talk to the folks at your bank, there's a chance someone financing a car through them is in default - maybe you can assume the payments?

Answer 3

Sante Fe isnt a good choice, should check out more options before commiting to that SUV

Answer 4

try your auto insurance company. Nissan altima 4 dr.