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i have pretty bad credit and i know no bank is gonna let me get a loan for a car but i was wondering if there are dealers that could get me financed on a new or newer car. i make real good money just have horrible credit

2007-07-22 02:01:38 · 13 answers · asked by Anonymous in Cars & Transportation Buying & Selling

13 answers

Yea any dealer will finance to you but the worse your credit the more down payment u have to give,

My father had really bad credit and to get his car he gave 4000 for a 20,000 principle.

and also they will try to get you for more time, but dont worry just pay on time and you'll be able to refinance once the car is in your hands

2007-07-22 02:05:53 · answer #1 · answered by carlitos 2 · 0 1

Not too many new car dealerships are actually equipped to handle bad credit financing. In fact, some hire other companies to send in sales reps just for sub-prime credit customers. Usually you shouldn't go through the dealer but get a car loan. Check out some of these sites, you can apply for a loan even with bad credit.
http://www.FundingWay.com
http://www.LotPro.com

Good Luck!

2007-07-25 15:56:37 · answer #2 · answered by evan4623 1 · 0 0

I am on the other side pay every bill in full on time. WATCH OUT CAR LOAN SHARKS! Who prey on low credit scores I imagine a 17% loan on a $30,000 car for 6 years costing twice as much when it is paid off. Could of had Mercedes Benz. Credit repair rebuild credit rating at the furnature store then department store credit card then Master Card or VISA Purchase a very economical car pay down a lot of money finance only a small amount. And after three years (if you don't go on a spending spree) your credit will be good enough to get a car loan near prime rates like my 6.25% car loan

2007-07-22 09:12:44 · answer #3 · answered by John Paul 7 · 0 0

Any new car dealership will not turn you down based on your credit. assuming you have the money to pay cash.

If your credit is too bad, consider a brand new car something you cannot have right now (really though new cars are a bad investment anyways, they lose 1/4 or thier value the second you roll them off the lot).

Look for "newish" cars, and still expect to get raped with an outragous APY. Better still, buy a solid used and spend the next 3 years rebuilding your credit, trhen buiy what you want. It only takes three years to pull bad credit into average or better credit, assuming a bankruptcy isn't involved, and you actively try to build credit.

2007-07-22 09:07:04 · answer #4 · answered by Some dude 4 · 0 0

if you make really good money, your best bet is to save (a lot, obviously) and buy the car straight out. car dealerships that sell new cars will deny you in a minute if your credit is not good, though you can find newER cars in great condition on a used car lot, and your credit usually isn't as big of an issue at places like that.

2007-07-22 09:04:45 · answer #5 · answered by taryn 3 · 0 0

You will probably need a cosigner. Or look into used. If you have bad credit, then I would assume that you aren't very good with managing money. Therefore, a smaller payment would definitely be the better way to go. ei: a good used car instead of new.

2007-07-22 09:04:18 · answer #6 · answered by a-mac 5 · 0 0

you have bad credit because you buy things you cant afford. Buy a decent used car with a 30% down payment. You'll get a loan but at a high interest rate.

2007-07-22 09:30:37 · answer #7 · answered by Anonymous · 0 0

What country/city? In Australia there is a nationwide car dealership chain called motor finance wizard (www.mfw.com.au) that deal with bad credit, unemployed, pensioners etc... they don't sell new cars (i don't think) but second hand and they only finance for cars sold in their car yards.

2007-07-22 09:06:51 · answer #8 · answered by JK 79 3 · 0 0

I you have good money why dont you pay a credit repair lawyer then go to a local dealer

2007-07-22 09:04:14 · answer #9 · answered by Anonymous · 0 0

Put enough down and pay high enough interest rates and any dealership will sell you a new car.

2007-07-22 09:23:26 · answer #10 · answered by Anonymous · 0 0

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