I need a car loan I have a BAD credit score. I am a FT student living off of childrens ssi and child support?

Question

FT student,unemployed mother,living off of children's disability and child support.Credit score of 419 nobody wants to help me out. There is no co-signor but my fiance has income that is usable,however,his credit is in the low 500s. I NEED HELP.!!!!!

Answer 1

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

Answer 2

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Answer 3

First of all, no business wants to HELP anybody. Those companies who give loans are businesses and they exist to make money. Most certainly, they do not exist to take risks that will likely end up in loss. If you are approaching business and asking for "help," you are wasting your time.

With that said, with your low credit scores, unemployed, and being on public support, your chances of getting a loan is very small, almost none. Certainly, if you can get one, interest rate and terms will be awful.

I tell you all this, not because I want to be mean to you, but to tell you, if someone is willing to give you money, watch out! There are all kinds of scams that target low income (and financially unsavy) people. They will take everything you own and then some.

My suggestion to you would be to review your ENTIRE situation. Although an education is a good thing, it may not be the best thing for you AT THE MOMENT. You might, perhaps, want to find work. Or, check out charity organizations for assistance.

I'd hate to see someone in dire needs taken advantage.

Answer 4

You are certainly correct that nobody wants to help you out with a credit score of 419 - probably because you have a history of harming the people you borrow from. Can you blame them?

You need to step up and take responsibility. You need to get a job, even if it's a crappy job. Once you have income, purchase a cheap car with cash (under $1,000). In the meantime, get to work using public transportation.

Answer 5

Would you loan someone money who has a history of not paying back and with no means to do so (no job) ?

You need a job for a car loan, period... If your fiance has 500 scores he can probably get financed somewhere but you will need a down payment. Anywhere from 10-20% of the purchase price. If you don't have any cash then you are probably out of luck.

Answer 6

If you can get a co-signer our agency can get you the funding that you need as long as you can locate a co-signer with a fico score of at least 690 or higher. We can get you the funding that you need within 5-10 business days.

Otherwise, you need to just get a job and call it a day because with scores like that, it proves and demonstrates that you ARE NOT a responsible person and no one is going to take the risk!! Unfortunately, you've proven that you are a risk and no one will chance it!! Especially high-risk lenders when your scores are in the 400's and the 500's. That unreal ... You need to build your credit or just start all over again or something, but from where you are .. unfortunately no one is going to give you anything! YOU ARE HIGH RISK!!!

Register in our Credit Club and we'll send you the application to apply if you have a co-signer! Good luck!

Much Love
Peace & Happiness

Answer 7

For Credit and finance solutions I always visit this site where you can find all the solutions. http://personalfinancesolution.info/index.html?src=5YAPHb6aKJuot1

RE :I need a car loan I have a BAD credit score. I am a FT student living off of childrens ssi and child support?
FT student,unemployed mother,living off of children's disability and child support.Credit score of 419 nobody wants to help me out. There is no co-signor but my fiance has income that is usable,however,his credit is in the low 500s. I NEED HELP.!!!!!
Follow 9 answers

Answer 8

You probably should not get a car loan. You will only make your credit worse if you default.

Answer 9

I found interesting information about your answer here. http://all-work-at-home.blogspot.com/2007/08/work-at-home.html Good luck!