WHY CANT I GET A VEHICLE ON credit?

Question

We even put down a substantial amount and NO ONE wants to gives us any credit...I was looking a 20000 dollar car, had about half down and they NO, because of past credit problems and I mean from like a year ago, my husband makes over 100,000 a year in the trades, yet they would a 18 year old DOMO (gas station) worker credit...WHAT GIVES???

Answer 1

Does not matter how much $$ your husband makes, if your credit record shows you are financially incompetent , why would anyone loan you $$ ? You already proved you're flaky with $$, and lots of wives get shop happy because their husbands make $$ but are too clueless to balance a checkbook.
Your baddddd $$ practices are now part of the official record. You might just have to pay cash for the vehicle until enough time goes by where you prove you can behave like a responsible financial adult.

Answer 2

A. A year ago isn't a long time. General bad credit entries stay with you for 7 years. Bankruptcy and judgements stay for 10.

B. If you are behind on ANYTHING, and I mean ONE thing, you WILL NOT get credit.

C. If your husband makes over $100k, you should be paying cash for your vehicles. If you need a car right away, one week's check will buy you a beater-box, and then you can put money away until you have enough for a new car.

In the meantime, I recommend you start reading books on fiscal responsibility.

Answer 3

A couple of things will prevent you from securing credit on a car.

1) IT MUST BE NEW OR USED with extremely low mileage.
2) THE PAYMENT MUST FIT THE CREDIT regardless to how much money your husband makes his credit has shown that he has had trouble making his payments on debts owed.


There are a couple more things that will keep you from securing automotive financing you can email me for more info

Answer 4

Because its BAD...............