Will it be easier for me to purchase a car which offers on the lot financing and no credit check. How does this process work?
2006-10-26 07:50:39 · 6 answers · asked by dora 2 in Cars & Transportation ➔ Buying & Selling
Yes and no, depends on where you go. I had poor credit and got accepted bymyself at one dealership and needed a co-signer for the other one, the one place I can suggest for you to try is Ford. Ford Motor Credit will take anyone, and once you have a car in your name make some payments on it and you can go ANYWHERE and trade it in for something else, thats what I did, I needed a co-signer though bc I hadnt had the car that long.
2006-10-26 08:00:40 · answer #1 · answered by Beth W 1 · 0⤊ 0⤋
most places that have on the lot financing still do a credit check. and more than likely if your credit is really bad they'll make you have a cosigner. i'd check with the dealership you're thinking of and see how the do their financing and then check around before committing to a dealer. also you may want to try financing through a bank or credit union.
2006-10-26 07:54:34 · answer #2 · answered by *~ riddles ~* 3 · 0⤊ 0⤋
They still do credit checks but most of the time reguardless of how bad your credit is they'll finace you, the only thing is they rape you with the percentages. If I were you, I'd check out some of these places that state "your job is your credit" or anywhere that says "aggressive 2nd chance finacing","bad credit,bankruptcy,divorce or reposessions OK"
2006-10-26 08:20:21 · answer #3 · answered by casualtr97 3 · 0⤊ 0⤋
YES------HIGH INTEREST RATE.....NATURE OF THOSE BUY HERE PAY HERE DEALS....
WHY NOT BUY A VERY CHEAP AUTO FROM PERSONAL CLASSIFIEDS?
I SEE VEHICLES LISTED FOR UNDER 1000 DOLLARS...
DRIVE 3 OR 4 MONTHS-SAVING ALL THOSE HIGH PMTS AND MANDIOTRY FULL COVERAGES INSURANCE RATES (BUY ONE FOR CASH YOU ONLY NEED LIABILITY)
THEN YOU CAN SELL THAT VEHICLE AND STEP UP.
AFTER A YEAR YOU CAN HAVE A 5000 DOLLARS CAR PAID FOR..NOTHING OWED AND CHEAP INSURANCE....
BUY HERE PAY HERE...5000 DOLLARS CAR WITH FULL INSURANCE WILL COST YOU ABOUT 12,000 DOLLARS IN TWO YEARS.
AND THAT 5000 CAR IS PROB NOT WORTH 2500 TO START WITH.... USED CAR LOTS CAN SEE YOU COMING....
BUY FROM CLASSIFIEDS......YOU WILL FAIR FAR BETTER....
2006-10-26 08:02:52 · answer #4 · answered by cork 7 · 0⤊ 0⤋
depends on how bad ur credit is whether u can do on lot financing or not. but if its bad then it will effect ur APR (the worse the higher the APR)
2006-10-26 07:53:59 · answer #5 · answered by jenivive 6 · 0⤊ 0⤋
Of course you can. Just get ready to pay ridiculous interest rates.
2006-10-26 07:57:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋