iv gotten one before and I even had a repo , but i have a great job and always pay
2006-12-21 12:49:44 · 13 answers · asked by s_miklr 1 in Cars & Transportation ➔ Buying & Selling
There are many dealerships that specialize in your type of situation. A great resource that operates similarly to LendingTree is AutoApproved.com. I have had lots of success when I used them.
2006-12-21 13:09:11 · answer #1 · answered by gorgesauto 1 · 0⤊ 0⤋
Good question..... A few thoughts... 1. Modern cars are very, very reliable, so the old scare about needing a warranty has become a money maker for the car companies and dealers. Cars just don't break like they have in the past. 2. Best price is always good. A great price may easily overcome financing comparisons. 3. I totally commend your decision, understanding that it is economics driven, to buy a used car. I can well afford to buy a new car, but never have done that. My wife and I are retired, we much prefer to spend our money on home, family, our winters in Mexico. (we could never have done that if we had blown it all on new cars.) 4. Find a good reliable car that you both feel good about and base your financing on best deal. 5. As you know, banks like to loan money to people who have lots of equity in homes, stocks, secure incomes etc. 6. My wife and I were young also, and had to go thru that bank loan crap. 7. Our home is beautiful, I drive a 94 Mustang, my wife drives a 2000 VW Golf. Hope that helps, good luck and God Bless. Keep the faith, you will prevail.
2016-05-23 09:10:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
BE CAREFUL! Dealers use what are called $99 cars quite often. A "$99" car is one that's a piece of junk, that is sold to someone with very poor credit. The person spends tons of money trying to keep the car running, ends up defaulting on the loan, and the car goes back on sale for someone else to get stuck with.
Start working on your credit, get a healthy down payment if possible, and find a decent car that's not going to break. Or buy a used one off the street, and use it until you can rebuild your credit.
Some dealers will work with you, having a healthy down payment makes it easier for them (20 to 30%), and get something reasonable that you can easily afford.
2006-12-21 13:19:18 · answer #3 · answered by Jeff K 2 · 0⤊ 0⤋
You say you have bad credit but you have a good job. That is only a part of how you get an auto loan.
Your loan is also determined on your debt to income, the type of vehicle you want to buy, your paying habits and who you pay. but other things as well. You should look at a credit application to see what a lender is looking at to determine if you get a loan or not.
Then after you look at the credit application you have to look at what the buyer wants to own, and how committed they are to buy it (down payment). Cash is king and if you had it you wouldn't need a loan, so this is what determines if someone with bad credit gets a loan actually. Think about it, if you had 10k to put down on a 12k car don't you think you could find yourself a $250 a month payment?
Joking aside. People with bad credit do get turned down and they are at times unable to buy the vehicle they want to own. So take care of your credit.
2006-12-21 16:04:31 · answer #4 · answered by vacuumfolder@sbcglobal.net 1 · 0⤊ 0⤋
You always pay and you've had a repo, that seems to be a little strange. You can get a car with bad credit but you'll pay a premium in finance charges.
2006-12-21 12:52:39 · answer #5 · answered by i have no idea 6 · 0⤊ 0⤋
It is possible to find a dealer to sell you a car, but you're most likely going to pay a very high APR which makes payments higher. You'll also might have to come up with a larger down payment for the vehicle to satisfy the lending company.
2006-12-21 12:55:04 · answer #6 · answered by GIOSTORMUSN 5 · 1⤊ 0⤋
yes ,,you can still buy a car ,there's are a lot of dealers out there that will see to it that you get a car,,but the interest rate your going to pay will be really high, a buy here pay here car lot would give lower interest rates than a larger dealer would have but its not impossible to get a loan with bad credit,,you just have to be care full,and don't let them take advantage of you ,,good luck,hope this help,s.,,have a good x-mas.
2006-12-21 12:58:18 · answer #7 · answered by dodge man 7 · 1⤊ 0⤋
Yes but they will make you pay a very high interest rate on the vehicle. Also there is a very good possibility that the car will brak down before you are finished making payments on it
2006-12-21 12:59:28 · answer #8 · answered by Whisky Tango Foxtrot 2 · 0⤊ 0⤋
Yeah there are a few car companies that it states in their adds that they'll accept you with bad credit.
2006-12-21 12:52:52 · answer #9 · answered by Anonymous · 0⤊ 0⤋
you probably be able to find a dealer that will finance you,but with a high interest rate.you gotta be careful of who you buy from.
2006-12-21 13:05:00 · answer #10 · answered by boss 1 · 0⤊ 0⤋