Where can I get a car loan with a credit rating of 490?

Answer 1

You CAN get a decent car loan, even with bad credit. I've done it, but you'll have to look around. That's one of the BIG mistakes people make...just taking the first offer that's given to them when they go to the dealer. Be smarter than that.

WARNING: DON'T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It's a better option, you don't have to take what they're offering if you don't want it, and it's better than dealing with the car dealer's people.

There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below...

http://www.axalda.info/bad-credit-car-loans.html

Answer 2

1

Answer 3

Hi! Congrats!!!! that's a good score, lowest is 350, highest 850, so you are in the middle, go to your bank and request the credit loan for a car with less than 90,000 miles if higher than this you won't get the loan. The bank wants to make sure that if you can't pay the car they get it back and they can sell it easier, the guaranty of most cars expire after 100,000 miles. the other thing you can do is to go wherever you find the car you like with the last 2 of your check stabs and you might get a $5,000.00 dollars car maybe more, just make sure that the APR is lower than 10% because the dealer wants to sell they don't care about you, they get the credit for you no matter what but many times to a very high rate, sometimes above 19% which is very bad. Usually bank loans are lower than financial institutions.

Answer 4

There are several lenders that will loan money to someone with a 490 score. You will have to make a large down payment depending on what you are wanting to buy most likely anywhere from $1,500.00 to $3,000.00 and your interest rate will be whatever the state maximum is for your state.

These lenders are good and all report to all of the credit bureaus. After you have made 18-24 payments on time you should be able to refinance with another bank and lower your interest rate. You must prove that you will pay on time every month before another bank will look at giving you a loan.

You will ned to go to a dealership that has a Special Finance Department because none of these lenders will work direct with the public. Look in your Sunday newspaper and find one that advertises for Special Finance.

Good luck.

Answer 5

We work with a partner that offers auto loans to all credit types.

My question to you is why do you need the car loan - just being noisy here. The reason i ask is that with a low credit score of 490, don't accumulate more debt, if you absolutely don't need to. If you have children and need a car to make a living - then you have no choice. If you just need a car so that you are not inconvienced by using a train or a bus... i would stick to the train or bus.

if you want to buy a house in the future or fix your credit, please make sure that you ABSOLUTELY don't get this car repossessed or miss car payments.

Just my 2 cents.

Answer 6

When you compare both the types of bad credit car loans, the secured bad credit car loan is more flexible as regards the terms and conditions. The unsecured is more rigid. Hence if you are certain about making regular payments, secured option is the best.

Find out a suitable lender who offers you loan on terms and conditions that are favorable for you. Spend time searching for the lenders both on the Internet as well as in the physical world. You are more likely to get a cheaper and better loan online. This can lower your total cost of the bad credit car loan.

Do not be taken in by the misleading ads released by the lenders. Their aim is to make the loan more alluring to the prospects. But it may not necessarily be true. Instead, find out for yourself the actual facts about the bad credit car loan.

Take into account the reputation of the lender, since it can have a big impact on your credit report. Pay off your loan installments on time to better your credit score. This will give you easy access to funds later on at lower rate of interest.

Answer 7

With a credit rating of 490 are you serious about getting a car? Don't forget, you not only have to repay the loan but the car's maintenance as well. I suggest you re-think your thoughts.

Answer 8

Mexico

Answer 9

dont.
A Car is a liability - something you continuously pay money out on while it continuously reduces in value.

Buy something that will make you money from the day you own it instead.. like property or shares... then in 5 years time, buy a car with the extra you have earnt while maintaining your original investment plus some.

Answer 10

sure you can get a car loan with 25% interest

don't do it remember with the loan you have oil changes,gas,brakes,tires OTHER MAINTENANCE ON THE CAR

make sure you can pay for everything or you will loose the car