2 credit unions have denied me already--Even with a cosigner who has excellent credit. They wouldn't even let me apply with my cosigner because my credit is that terrible.
I really need a car to get back and forth. My car broke down on christmas eve. And I only have limited time to get a reliable car.
I only make $1,600 a month (after taxes), and I'm trying to pay off credit cards. But I don't know how to get the money for a new car. Please someone advise.
2007-12-31 06:03:41 · 9 answers · asked by Missy 2 in Business & Finance ➔ Personal Finance
You cannot do ANYTHING
Turned down with an excellent co-signer....that means you have HORRIBLE credit.
Looks like public transportation is in order here...
2008-01-04 05:42:18 · answer #1 · answered by I Can Count To Potato 7 · 0⤊ 0⤋
If you can afford a car payment (and you seem to think you can), then you can afford to put $150 a month in a savings account. Take the bus for 12 short weeks and pay CASH for a $450 car. Keep saving $150/month and drive that until it dies...if you are lucky it'll last a year, and you can buy a $1600 car for cash....see how this works?
You don't need a "new" car, you just want one, and buying things you want (but do not need) is why you have credit cards to pay off!
Go to the library and read one of Dave Ramsey's books about debt. Use the New Year as an excuse to change the way you look at money, or it will control you for the rest of your life, you'll always be scrambling...
Best wishes & Happy New Year!
2007-12-31 07:16:54 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Car dealerships will typically do in-house financing but be prepared to get charged outrageous interest rate and expect your payment to be extremely high
If possible drive around your town and look for those cars being sold be individual and see if you can work something out with them as another option
2007-12-31 06:53:03 · answer #3 · answered by Sharon F 6 · 0⤊ 0⤋
If you are having this much difficulty how will you ever be able to make payments on another car? Scrape together some money and fix your current vehicle. Maybe the cosigner would advance you money to do the repairs.
In the meantime maybe you could use public transportation or carpool with another co-worker. Help with the gas money.
2007-12-31 06:19:01 · answer #4 · answered by Othniel 6 · 1⤊ 0⤋
You need to find a used car dealer that does in-house financin There are many out there, they may charge you a larger percent rate to finance a car for you, but all they usually require is a steady job, a steady place of living, and a down payment of either $500-$1000. I have had my 2004 Chevy Trailblazer financed through one of these types of places. I even got an extended warranty and GAP coverage, which will pay my vehicle off if I get into an accident and the insurance company will only give me blue book value. So this may be your only option with out having to have a family member buy the car for you and you make the payments to them. Good luck to you. ;) Happy New Year!
2007-12-31 06:16:34 · answer #5 · answered by Helping hand 3 · 1⤊ 0⤋
Well most banks require at least $1800/month to qualify. Go to dealership with your cosigner with excellent credit and additional income. But you will still need a downpayment.
Just make sure and buy something you can afford. If you start missing payments, you will damage your credit more, and that of the cosigner.
But try and get a better paying job. I dont know how you survive on $1600/month.
2007-12-31 06:10:22 · answer #6 · answered by Meghan 7 · 0⤊ 2⤋
Find the best rates for people in your situation at: http://www.MYLOANSRATES.NET
RE:What do I do if I can't get approved for auto loan?
2014-07-24 02:43:30 · answer #7 · answered by Anonymous · 1⤊ 0⤋
You will find very useful this site for finding the best option for you http://WWW.CREDIT-SOLUTIONS.INFO
RE:What do I do if I can't get approved for auto loan?
2014-06-26 13:53:18 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Get free rates
2015-01-27 11:49:53 · answer #9 · answered by Ardelis 1 · 0⤊ 0⤋