2006-08-27 10:15:31 · 8 answers · asked by ambersaintclair 1 in Cars & Transportation ➔ Other - Cars & Transportation
I'm a former car salesman and here's what I have to say about this question. You'll go to a lot of car dealers that claim they can still get you approved even with bad credit. However, what they won't tell you is that the interest rate for the loan would be anywhere from 15 to 30 percent for people with bad credit. My suggestion to you is this: Either get a co-signer or save your money for a little while so that you can get a cheap car that you can afford to pay off up front. Then after you've had a chance to build some good credit (usually after 6 months to a year), go see if you can get a loan on a car you really want.
2006-08-27 10:24:46 · answer #1 · answered by HULK RULES!! 7 · 0⤊ 0⤋
Buy a cheap crappy car that runs with a little bit of cash. I drive a 98 Escort that I paid 2 grand for and it runs great! Then take that money you want to make a payment with and every month have it drafted out of your checking account into a separate savings account. When you have enough cash in that account Then and ONLY then should you go buy a nicer car and PAY CASH for it.
Remember how your credit got messed up in the first place? Probably Borrowing money to buy crap you cant afford to impress people you dont even know! It is a spending problem not a credit problem. Always pay CASH for what you want to buy. Debt Free Living is a better way to live. Payments just keep you poor and struggling forever. Good Luck!
2006-08-27 17:47:14 · answer #2 · answered by FreedomLover 5 · 0⤊ 0⤋
Never done it myself, but where I am you can check the "Autos for Sale" in the classifieds and there are usually all sorts of ads where it is advertised "bad credit, no credit, no problem". Apparently you are guaranteed a car loan.
2006-08-27 17:22:50 · answer #3 · answered by GAB & R 2 · 0⤊ 0⤋
I contacted "Capital One Auto Finance" at 1-800-946-0332. However, my loan came with 15.95%. But, I needed and now luv my "Mustang". Good luck.
Jimmyjenx
2006-08-27 17:33:58 · answer #4 · answered by Jimmyjenx 1 · 0⤊ 1⤋
go to car dealers...or a buy here pay here dealer...
its VERY hard to get a car loan with bad credit
2006-08-27 17:17:10 · answer #5 · answered by mommy2savannah51405 6 · 0⤊ 0⤋
save a big down payment
2006-08-27 17:19:30 · answer #6 · answered by steve 5 · 0⤊ 0⤋
vasiline , might help for the screwing the high intreast rates will get you from a tote your note lot
2006-08-27 17:18:48 · answer #7 · answered by foothill4fun 3 · 0⤊ 0⤋
try to contact farmers insurance or state farm.
2006-08-27 17:17:41 · answer #8 · answered by Arcie 4 · 0⤊ 0⤋