2007-11-12 15:11:15 · 3 answers · asked by Greg F 1 in Business & Finance ➔ Personal Finance
You have to go most likely through a buy here, pay here lot like JD Byrider.
If you are trying to rebuild credit a better option is a secured credit card or a small bank loan (think 200-500 dollars). You need to make the payments over two or three months to show you can pay your balances even when things get tight.
2007-11-12 15:14:27 · answer #1 · answered by Lily 7 · 0⤊ 0⤋
Not too be to technical, but HUH? You had a home repo, so you want to go borrow more money, and you are going to delude yourself into thinking your new shinny car is really just to "rebuild" your credit.
The best thing you can do is not have credit activity for at least 6-12 months. Pay off any smaller account or collection problems.
Save up and pay cash for the car.
Dealing with low credit auto lenders carries risk and many consumers end up having problems with fees, overpriced cars, etc.
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2007-11-12 16:58:05 · answer #2 · answered by Gatsby216 7 · 0⤊ 0⤋
Yikes ! JD Byrider and all of those dealerships offering loans for bad credit/no credit people will certainly charge you a hugely high interest rate, which is to be expected. Shop around for the lowest interest rate possible. Check with your bank or credit union as well since they might even be able to beat a dealership rate. And stay away from the scams like this one above ^^^^^^
2007-11-12 15:17:47 · answer #3 · answered by Karen T 3 · 1⤊ 1⤋