Im going to try and get a car this weekend. I've never had a loan of any kind and i have numerous unpaid medical and dental bills. I make
around 1500 monthly at my job and i just want to know what to expect if i try to get a car with little or no money out of pocket. Is it possible? what can I expect?
2007-01-09 16:47:28 · 3 answers · asked by jef v 1 in Business & Finance ➔ Credit
Suggest you take the money you would spend in payments for the car and make arrangements for the medical bills. Those will hurt you and if you can show you have taken care of them or at least made some sort of contact with the creditor it'll be more in your favor.
It also depends on what other outgoing expenses you have. They will look at that first.
2007-01-09 17:01:01 · answer #1 · answered by every little thing 2 · 1⤊ 0⤋
Be careful.
You can always get a loan. The question is: how much will they use you? You need to be smart about what you pay. You might end up paying 15-20% interest and find yourself in an even deeper financial bind.
You need to be realistic about your financial situation and stop using debt. You're better off buying a beater car, for cash, and doing everything you can to pay off the medical bills and get yourself on the right footing before taking out debt for a car.
Be wise about your situation.
2007-01-09 16:59:06 · answer #2 · answered by generalchris7 3 · 0⤊ 0⤋
Someone will be happy to sell you a car loan under "special credit". It will have to be a used car and you'll pay a lot more than the car is worth, but if that's the only way you can get one, you may have to.
About 15 years ago, I paid 6K for a 3K car, but I was lucky and it was a good old car, it lasted several years. That loan helped me clear up my credit though, and it's all fixed now. I still buy used cars but now I can pay cash for them.
.
2007-01-09 16:55:16 · answer #3 · answered by Kacky 7 · 1⤊ 0⤋