My bf Needs a new/used car but has bad credit ..any suggestions?

Question

my bf NEEDS a used car but has bad credit and not very much money

Answer 1

As you may know a good credit score is essential for loan rates among other things. It would be a plus if he were to try obtaining a vehicle from a buy here pay here auto place but, be aware that they generally have high interest rates & high mileage undersirable vehicles that cost too much. He should have the vehicle checked out and, look in the annual Consumer repots guide for the most reliable used cars. The gentleman will need a substancial down payment, gainful employment and, last but not least make sure that he makes all of his payments ontime. It is possible to clean up your credit by continual disputes via the reporting agencies too.

Answer 2

I'm sure you love your bf, but he is just your bf. If he were your HUSBAND I would have a different answer, but he is NOT your Husband, so he does not get treated like a husband until he is a husband.

(You going to let some guy who is maybe thinking about going to medical school someday operate on you and act like he is your doctor? No. So why should you treat some guy who is thinking that maybe someday he might think about getting married like he was your husband?)

This guy is a bf. Treat him like a bf.

DO NOT, DO NOT, DO NOT co-sign any loan for him.

DO NOT get involved in this.

You will wind up having a credit agency calling you demanding that you make the payments for a car that your ex-boyfriend is driving all over some other state, with his new girlfriend, that is if you are lucky.

IF you are not lucky you will wind up with a repo on YOUR credit record.

Hate to say this, but are reasons he has bad credit. Ive had bad credit and it took almost as much work to get the bad credit in the first place as it did to rebuild my credit afterwards. People who have bad credit have bad credit because they dont' have a good track record of paying their bills.

I know he needs a car. It is nearly impossible to have a job without a car these days. He should not even be THINKING of a new car. HE CANT AFFORD IT. It is NOT your job to buy him a car. (Bf not hubby, remember?)

Your best bet is to get him one of those cheapo Italian motor scooters, AND TWO HELMETS, and tell him how romantic they are in all the movies. Then let him drive that while he WORKS and SAVES UP for a cheapo car. He needs some sort of transporation HE CAN AFFORD.

Give him money if you must. Do NOT "loan" it. Do NOT expect to get it back. It will have less of a detremental effect on your relationship that way.


Then drive the cheapo car while he saves up for a slightly better cheapo car,

Then just lather, rinse, repeat, always working and saving and buying better cars.

Until he can afford it, he can't buy it. He needs to act his wage.

Go to www.daveramsey.com for advice.

Answer 3

you will probably need a co-signer that has good credit....maybe you or his parents


good luck

Answer 4

If you really love him you'll buy him one.

Just kidding.