My credit is not that good and I may need to buy a car in the next few months...?

Question

Would I be better off getting my credit up and fixing my car and waiting a year or would a car dealer let me finance with not so perfect credit?

Answer 1

first of all be careful of predatory car dealers like ugly duckling. Second, I suggest working on your credit a bit. You will pay so much more for your car in the end, far more than fixing your current car would cost you most likely. Go to www.cerditinfocenter.com they have all sorts of great ways to fix your credit. A few months of diligent work and you will be far better off than you were at the very least.

A dealer will let you finance based on a variety of factors including how much you put down and how much you need to finance. You could in effect "buy" credit with a large enough down payment. Once you are no longer a risk to the lender (ie the car is worth more than you owe on it) you are in a better position.

Answer 2

You can buy but they will charge u higher interest since they feel they are taking a chance on you. Some dealers could charge as much as 20% interest, so be very careful and make sure you know what your interest is and just not your payment. I think that you wont be able to fix your credit so waiting a year is not going to help much. Go look and see what they can do, just dont get pressured into doing something rigth away. Go look, think about it for a few days and then make a decision. Also make sure u get enough for your trade, is it paid off? Its best if it is.

Answer 3

You're better off saving some money for a down payment and reducing your risk and monthly payments. I would also shop for your own financing. Dealerships love people with not so great credit because they get bigger kickbacks on financing. Go to a local credit union or bank you do business with and arrange your own loan.

Answer 4

well my credit is screwed up and I needed a car I went to a buy here pay here lot but they can get over on you sometimes I bought a car from a buy here pay here lot and a year later the engine gave out on me and i spent like 2500 on that stupid car so when I got another car I bought it from someone and It's a good car I only spent 1300 on it and haven't had many problems with it if you decide to get a used car have a mechanic look at it first that way you don't get ganked like I did or if it's not gonna cost you that much money to fix your car then do that

Answer 5

Save your money up for a down payment, find a good used car buy here pay here. There you don't need prefect credit, and you make weekly or bi-weekly payments.. Slowly build your credit up with them. While your keeping up with the rest.