my score is around 540
2007-05-09 10:52:59 · 6 answers · asked by ~*sTaR*~ 2 in Cars & Transportation ➔ Buying & Selling
You don't need to go to a "buy here, pay here" lot to get a car. First of all you want to shop online for an auto loan. There are several different sites that you can apply. Once you have your loan secured try shopping the price of the car online. You can also go to an auto dealership. They have special finance managers that deal with low credit scores everyday. 540 is not that bad of a score.
2007-05-09 11:13:45 · answer #1 · answered by Maggie 2 · 0⤊ 0⤋
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
2007-05-09 20:33:57 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Look for those smaller dealerships that have big signs saying "We finance everyone." Or call 1-800-BAR-NONE. Their TV ads claim no one is ever denied for financing.
You'll probably have a pretty high interest rate, but that's to be expected with your credit score.
2007-05-09 19:08:24 · answer #3 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
well the only advise i would give is to try and get good credit and also go to a buy here pay here place to get a car they dont check credit history.
2007-05-09 17:56:58 · answer #4 · answered by Kort 2 · 0⤊ 0⤋
Almost anyone will finance you, but your'e going to pay an astronomical interest rate, probably 30%+. It will be better if you have a large down payment.
2007-05-09 18:02:48 · answer #5 · answered by idaho69442 3 · 0⤊ 0⤋
go to a 'buy here, pay here' car lot.. they will help.. you will have to put some $500 - $1000 down and proof of a steady job.. they will hound you but its the best way for bad credit.
2007-05-09 18:00:27 · answer #6 · answered by La Flaca 4 · 0⤊ 1⤋