divorced mom needing a car loan with bad credit even if my bills were paid off.worked 10yrs same co. any sugg.

Answer 1

With bad credit, a purchase like a car is best made somewhere that will ignore your credit and simply sell you the darned thing.

You'll need to do business at a 'tote a note' lot - the sign will say 'buy here - pay here'. They will take a weekly payment until the car is paid off.

Since they are already going to beat you up on the money, might as well get a car you're happy with. Don't let them steer you to a piece of crap...look them all over and decide on the one you want. They'll make the numbers work.

Good luck! - Stuart

Answer 2

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Answer 3

You can still get a car loan, as long as you're working somewhere for a minimum of 6 months. With bad credit, however, you can expect a higher interest rate. The best thing is to go in and see if they will finance you. Then, make sure to make all your payments on schedule for a good 9 months or so. By the end of that time, you should be able to refinance your loan for a lower interest rate AND your credit score should rise drastically. The trick is to stay out of credit card debt. Just tear them all up except for one and only use it in cases of extreme emergency. And no, wanting a new outfit is not an emergency.

Answer 4

Anyone can get financed..... even those who have filed for bankruptcy. But you'll usually need 50% downpayment and the rate will probably be 2X or 3X what people with Tier 1+ credit (over 730FICO) usually get.

Try Capitalone.com..... if they can't approve you, they'll probably refer you to one that specializes in bad credit.

Try not to seek financing from dealers since they don't really care about you and will stick you with rates as high as 30% just so they can get a nice hefty kickback from the lender. This is your last resort if everyone else turns you down. But you may be better off just paying cash for a cheap car and then waiting till your credit improves to buy a new car.

Answer 5

wow...12 answers and they are all WRONG!!!

U dont need a car loan...U need a CAR!!! Go buy something used that you can afford to pay cash for. I bought a 98 Escort Wagon a year ago for only $2,000.00 from a Dealer and it still is running great! Drive a cheap paid for car, and take your 'payment' you are prepared to make and have that amount drafted automatically out of your checking every month into a savings account. When you have enough money in that account, plus the value of your current car, then you can go PAY CASH for a nicer car. This is how Responsible Adults pay for cars. People who BORROW money to buy cars they cant afford to pay for because the WANT IT NOW!!! are just children in adult bodies.

Dont worry about your credit rating...worry about earning and saving some money! If you have Money...U dont need credit. Good Luck!

Answer 6

Many used car dealers will sell you a car using just your job as your credit. However, the down payment will be the real value of the car and you will have to make monthly payments for a few years. The advantage is if you cannot make the payments, just turn the car back in to the dealer and say so. The dealer won't penalize your credit. Then when you are back on your feet again, the dealer will remember you and be happy to sell you another car because he knows you are more honest than he is.

Answer 7

There's a lot of car dealerships that will give you a used car with no credit check. The payments are a bit more than through traditional outlets, but if you need a car, then it might be a good idea.
Hope this helps!

Answer 8

I started my credit off by getting a couple of small loans from finance companies and paying the loan off with the first payment. After that I got a loan from a major car manufacturer to get my first car. I sold that car after a year and payed that loan off early too. Now, 30 years later, I can get as much money as I want.(even if I can't afford it lol)

Answer 9

With a good down payment, you most likely can get financed. Check with your bank or credit union first. The fact that you have paid off the bills and have a stable job history helps a lot.

If you can not get your own financing, many dealers offer second chance financing, but the rate will be higher!

Good luck and congratulations on getting your bills paid off!

Answer 10

the only advice i can give you is to keep looking around. you always here on the radio, or TV about car dealerships giving you a chance even if you've had a divorced, bankruptcy, no checking account, or just bad credit. don't give up there's something out there for you. Good Luck!!