I have a rough beacon (550) and in need of a 2nd car as my wife and I are sharing one. I just want to get a 5000-8000 loan and have payments around 300-350 a month. I do not want to go to a nuy here pay here dealership. I would rather deal with an individual selling a car.
I tried www.eloans.com, but they said no. I only make 30k a year and the wife makes 19k.
Thanks
Devon
2006-08-23 09:28:39 · 10 answers · asked by Devon G 2 in Cars & Transportation ➔ Buying & Selling
ha..I am 29 years old, my father died when he was 42 (8 years ago) and dont know my mom, so no loan from there.
As for cash only, I would love no car payment, but with my wife and my work schedule and kids in school, we really need a 2nd car.
Thanks.
2006-08-23 09:39:13 · update #1
Also, i do belong to a local credit union. They literally laughed at me when i went iin for a car loan. Def taking my accounts elsewhere ASAP, but I've been with them like 5 years.
2006-08-23 09:41:30 · update #2
Use cash. You are in no position to get a loan or even worse "fleese" a car.
http://www.failuremag.com/arch_business_daveramsey.html
http://www.wnd.com/news/article.asp?ARTICLE_ID=41588
2006-08-23 09:35:56 · answer #1 · answered by Sir J 7 · 0⤊ 0⤋
First off, I feel your pain. It is not impossible to get a car loan with bad credit, just hard. You will get an extremely high interest rate. Lendingtree.com is a good start, mainly because your info will be forwarded to many different banks, so your chances may be better with that avenue.
Cold, hard cash is the best option. Be careful with used cars though, some lose their trade in value faster than others. Do alot of reasearch before you buy a used car. I really feel your pain because I was in a similar situation ( I had questionable credit and needed a car). I got approved for a new $13,500 car with 20 percent interest, but I had no choice, and no cosigner either. Good Luck!
2006-08-26 21:19:47 · answer #2 · answered by smoothbd52 2 · 0⤊ 0⤋
Join a credit union. They are more lenient & let you build your credit up with them.
Take a personal loan for $250 or $500, pay them back on schedule, then go for the car loan.
It may take a while, but once you're in, you're golden.
2006-08-23 16:32:18 · answer #3 · answered by lynn 5 · 0⤊ 0⤋
Try a local bank or a credit union.'
2006-08-23 16:35:18 · answer #4 · answered by Bluealt 7 · 0⤊ 0⤋
Unfortunately because you are not reputable, nobody else reputable will take you. You want a reputable place to get the loan but they want a reputable customer.
2006-08-23 16:34:54 · answer #5 · answered by Joe K 6 · 0⤊ 0⤋
Try cash call. The one with Gary Coleman.
2006-08-23 16:32:46 · answer #6 · answered by Anonymous · 0⤊ 1⤋
HAVE YOU TRIED LENDING TREE? GO TO CAPITAL ONE AS WELL... THERE ARE A FEW LENDERS OUT THERE WHO WILL LET YOU BORROW THE MONEY. YOUR INTEREST RATE WILL BE RIDICULOUS, BUT THERE IS NO GETTING AROUND THAT WITH A LOW BEACON.
2006-08-23 16:32:19 · answer #7 · answered by ~rani rae~ 1 · 0⤊ 0⤋
Carmax.com the best! I had bad credit and they were very helpul so... good luck!
2006-08-23 16:31:27 · answer #8 · answered by lisirm 2 · 0⤊ 0⤋
I found some good info here.
2006-08-27 15:20:50 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Your parents
2006-08-23 16:30:44 · answer #10 · answered by Smiley0006 2 · 0⤊ 0⤋