i have a charge off on my credit report. does anyone know where i can buy a car with a charge off??

Question

if not does anyone know when i will be able to buy a car?? help!
thanks I live in california. does anyone know any dealerships who will give a second chance too??

Answer 1

You can buy a car with a charge off.... thats not the problem...

Its the INTEREST RATE you will pay.... THAT is where you are going to get screwed...

Answer 2

Brenda, don't fall for the trap to spring for new wheels. I know you want a new or newer car, but getting into payments with bad credit is just asking for more trouble down the road. Take a look through your responses and see a familiar theme among most of us. We are all SHOUTING "DON'T DO IT KID"! You're looking for some advice and you came to us. Now, the best thing to do is get some cash together. Sell of some clothes, cd's, books, shoes anything. Borrow some cash from your parents if you can. Get the Sunday paper and circle some private owner cars for sale. Now, grab your Dad, Uncle, a friend, someone who knows something about cars and go car shopping. Find that old lady car where the car that wasn't abused. Pay cash and now drive it. Take that money that you were going to make payments with and set up a little savings account with that money. You now will have money for repairs and a possible upgrade in 18 months! Deny thy self the pleasure of buying a car that you will over pay for by paying high interest because of poor credit. Plus, a new car will depreciate 30% in 2 years! Good Luck kid!

Answer 3

I hate to say it, but its true. You don't want to get a car loan from someone willing to give it to you. I got a car on craigslist.com for $600 bucks. Its been about a year now, and I've replaced a few things here and there, but it still runs fine. Plus I save a ton of money by not having a car payment, and I get super-low insurance payments. I hate it when I see people with shiny new cars, and my car is kinda ghetto, but I would rather have extra spending cash than have a shiny new car. I spend $130/month on my car insurance, thats it. Other than gas, oil changes, misc. expenses thats it. My last car was new, and on a loan. I spent $345 per month for the loan PLUS $230 per month for the insurance. You're lucky to live in Cali., cars last much longer out there. Here in MA cars have to survive road salt and harsh winters. Best of luck! PS I know that there is pressure to look good out there, but trust me, I work at Neimans, I feel the same way.

Answer 4

Auto finance is what I do for a residing and simply seeing that the lender charged off your account doe's now not imply that you don't nonetheless owe the money or that they're going to now not attempt to gather. Charge off is quite simply a accounting time period that makes it possible for the lender to put in writing off the loss for tax explanations. If you dad doe's now not exhibit up in courtroom they are going to win by way of default and the courtroom will order the judgment. At that factor they are able to connect financial institution money owed, garnish wages (in case your State makes it possible for it) and dossier liens on another estate you or your dad would possibly possess like automobiles, boats, land and houses. All of this may increasingly exhibit on each your credit score studies for the following 7-years making it very rough to get another variety of mortgage with out making gigantic down repayments, paying colossal charges and State highest curiosity charges.

Answer 5

How much CASH can you get your hands on. If you don't need a loan, your credit score won't even be checked. You will have to settle for a used car, and maybe an ugly one, but if your credit is bad, you should only look for basic transportation anyway.

Answer 6

Go to the shady side of town, they will get you a car. You wont like the interest rate, but you are getting what you deserve. No one reputable will be stupid enough to trust you.