New car with a warranty but I can't afford to pay more than 100.00 a month. Afraid I would be turned down for a loan. Any suggestions? Need a car every day and the one I drive is on its last legs : ( Have an SUV and would love to stay in one, nothing fancy.
2007-09-04 17:06:59 · 8 answers · asked by CMRChicago 1 in Business & Finance ➔ Credit
Poor credit car loans have been specifically designed for those people who have trouble getting credit due to their credit score being too low, if your credit score is too low then you will be seen as a huge risk and as such the lender will not take a chance on you and so turn you down. You can bring your credit rating back up by doing certainwebsite will also be able to offer you the best advice. However unless you know something about car loans and in particular what to look for when it comes to getting a poor credit car loan then you could end up paying way over the odds for the privilege of getting the loan.
2007-09-05 06:55:01 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Even with good credit, getting a new SUV for 100 or less a month is almost impossible. Try to fix up your credit. Try to get a credit card/store card/gas card anything, use it once or twice a month and PAY OFF the balance at each statement. That will help your credit. The only other thing you can do is try a buy here pay here place, they are usually more expensive in the long run, but for people who have bad or no credit may be the only option. Good luck
2007-09-04 17:19:21 · answer #2 · answered by Trish B 2 · 1⤊ 0⤋
I'm curious-just what type of new SUV do you think you can buy for $100/mo? Don't mean to be rude but you are dreaming but perhaps you need to go to any bank website and punch in some figures into a amortization schedule so you can figure out just what size loan you can get for how many months and the payment at $100. You don't seem to understand money/loans/debt, so be very careful what you do so that you don't ruin your credit any further. Also do some car shopping on line so that you can get an idea of what new/used cars cost. It's as simple as www.ford.com, www.chevy.com, www.toyota.com and you can build your own vehicle and get a price for it or check out what's on their lot. You can also find out about mileage (which they lie about) and go to edmunds.com to find out what people think of the car you want to buy. Even yahoo has a place to ask questions about different autos by type of car. Hope this helps.
2007-09-04 17:16:31 · answer #3 · answered by towanda 7 · 0⤊ 0⤋
Auto finance is what I do for a living and you are asking the impossible.
First of all even with good credit and a 72-month term with 6% interest the most you could finance is $6,019.00. That will not buy any S.U.V. with a warranty.
You would be better off fixing your vehicle.
2007-09-05 02:21:01 · answer #4 · answered by ? 7 · 0⤊ 0⤋
Get a very small used car. The money you save on gas will cover a $260 payment per month. You will be able to get a newer car without problems.
2007-09-04 17:17:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2016-11-14 05:39:57 · answer #6 · answered by ? 4 · 0⤊ 0⤋
It is almost impossible to get an suv for 100 a month
2007-09-04 17:16:25 · answer #7 · answered by mike m 3 · 2⤊ 0⤋
Keeping yours running will be cheaper than replacing it. A used one in your price range might have more problems than yours and you won't find one that old with a warranty.
2007-09-04 17:12:29 · answer #8 · answered by shipwreck 7 · 3⤊ 0⤋