I have a credit score of 605 helllp!
2006-08-17 12:29:28 · 18 answers · asked by jessymae 1 in Cars & Transportation ➔ Car Makes ➔ Acura
you can still get a car with bad credit. you will get a higher interest rate by doing it on your own (and you may have to come up with a higher down payment) or the dealership will ask you to find a co-signer.
i know someone who has a lower score than you and recently purchased a house! it's all good... just try to improve your score and stay on top of your car payments when you get one.
good luck!
2006-08-17 12:39:09 · answer #1 · answered by charwants2know 4 · 2⤊ 0⤋
well if you want your credit score to increase; pay your bills! and do it on time and pay extra instead of the minimum. You interest rates are gonna be super high. Your age also has allot to do with it. You are either very young or just bad with credit cards?? which one. I still think you can get a good car, but your interest rates will be around 15% to 22% for a car loan. Save your money and put a good cash down payment like 55% of the price and i think the bank or credit union will give you a nice break on the loan. Good luck!
2006-08-18 15:36:49 · answer #2 · answered by kram_7777 3 · 1⤊ 0⤋
A high FICA score is nice, wants your score is past 720 to 750 the lender rarely check your history, for a car, under that thy check it real good. but lenders for a car loan only look for if you had a car re-pod. if you did not thy will give you the loan, if you did thy will want to know if you payed the difference of between the action price and what was owed. if you did you can get it at a higher interest rate. normally 3 to 6 percent higher. if not you will need to go to a buy here pay here place that reports to the credit burrow, and after 6 months to a year go to your bank and get a new car loan to pay off that car loan, hopefully at a lower rate, and that will help you cause that will show a loan payed off and a new one started.
2006-08-17 20:20:19 · answer #3 · answered by gamemanual 4 · 0⤊ 0⤋
Put the amount aside that you would be making as a payment for the next 24 months (say $400) ... you will then have $9600, you can buy a really nice car for that.
Forget financing until you clean up your credit - they will just charge you exhorbitant rates, and you will wind up upside down on a car.
2006-08-17 19:36:24 · answer #4 · answered by kentata 6 · 2⤊ 0⤋
Try a "buy here Pay here" place. they tend to specialize in dealing with people with bad credit. You'll pay a higher interest rate but in most cases you'll get the car.
2006-08-17 19:36:29 · answer #5 · answered by shy_one964 2 · 0⤊ 1⤋
prayers do help my credit score is 510 do yourself a favor do not give your social security nimber to any business anymore the score will grow
2006-08-20 21:57:00 · answer #6 · answered by mort 3 · 0⤊ 0⤋
I think you can get a car with that score just givve a good down payment.
2006-08-17 22:03:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you can still get a car you will just have a higher interest rate...one way you can save some money is have your financing complete before going to the dealership then you can haggle on the actual price
2006-08-17 19:33:48 · answer #8 · answered by Anonymous · 3⤊ 0⤋
thats not bad i have a 548 and i got a car...get a co signer if its that important to you
2006-08-17 19:34:55 · answer #9 · answered by ~Saratini~ 4 · 1⤊ 0⤋
Get a co-signer
2006-08-17 19:36:29 · answer #10 · answered by Joe 2 · 1⤊ 0⤋