I have really bad credit and I need to get a car. Is there anyway I can finance a car with horrible credit?
Posted in Credit on 09/17/2008 06:04 pm by admin
Juanita C asked:
I have a consumer credit counseling or something like that showing on my credit report. Help me out I need a car!
GENARO
I have a consumer credit counseling or something like that showing on my credit report. Help me out I need a car!
GENARO
09/21/2008 at 3:04 am
Buy here Pay here dealers are about your best hope.
09/21/2008 at 10:46 pm
if you can come up with a good percentage of the final car price then you can get a car otherwise you can try your local car auctions they usually have cars cheap
09/25/2008 at 6:42 am
This is what I do for a living.
Look in Sundays newspaper and find a dealer in your area that advertises Special Finance. Call and talk to the Manager, they can help you.
I get people approved every week that are in consumer credit counseling, it’s not a big deal.
Whatever you do, do not go to a buy here pay here place. 90+% of them do not report to the credit bureaus so all of the payments you make to them do nothing to re-establish your credit.
09/26/2008 at 8:59 pm
A lot of car dealerships have a “bad credit lending program” that can help you. The rates are generally higher than normal, for example, you’ll probably not get the 0% financing that they advertise on TV.
If you’ve signed up for Credit Counselling, and you are still active in the program, you might have troubles borrowing all together as many lenders see that as a huge negative, it shows that you can’t manage your own finances…if it’s just something like a cell phone bill that went to a collection company, pay it off, get a reciept and letter stating that it’s paid, and watch your credit score start rising again.
09/30/2008 at 3:07 am
Check this site: they have a list of links to companies specializing in financing bad credit car loans.
Good luck!
10/02/2008 at 1:04 pm
There is a consumer source below that has a list of car loan companies that will approve you for a new or use car loan with no to bad credit.
10/05/2008 at 10:11 pm
You can join our new group. We give advice, tips and resources for consumers to raise their credit scores.
10/06/2008 at 1:53 am
If you have a bad credit history and experience difficulties in buying a new car, contact car financiers as they have special schemes for bad credit holders. Bad credit car financing is designed for people with poor credit score, seizure, late payments and in few cases even bankruptcy.
Bad credit car finance loans carry higher interest rate than the normal loans. . A person approved for a bad credit loan should make regular payments so that their credit score rises. After the credit score goes up, it is possible to refinance the loan. This new loan will be offered at a lower interest rate, resulting n substantial savings in long term.
10/07/2008 at 7:06 am
Visit a car dealer in your area see what they can do for you. Maybe you’ll be able to rent for a short period of time at the beginning, then monthly.
Good luck !