You go to one of those hole in the wall places and you pay a ridiculous rate. Try to see if someone will cosign for you. It might help and you can go to a reputable place.
i have bad credit, and the only luck i have had with getting a car loan (besides with a co signer), is the buy here pay here dealerships. you pay a high rate, but once u are able to get a car from a regular dealership, most will take the car back without putting a repossesion on ur credit..but u will lose all the money u had put on it so far. i hope that helped, & if u have any other questions about it, feel free to email me
you can also try the regular dealerships that work with people with bad credit. to get a car loan thru a bank, u have the best chance by buying a brand new car. the reason for it is because if it gets repossessed, they will be able 2 sell it easier and at a higher price.
More details would get you a better answer. In general many franshised dealers will have a person (Special or Secondary Finance MGR) that will have a selection of lenders that deal with problem credit.
When you go to the dealership insist on talking to that person, don’t waste time with a salesperson before you get to talk with the Finance Mgr. They will usually have the experience to look at your credit and application and tell you your chances of getting approved and the best way to present your situation to the lender. USE THEIR EXPERIENCE to your advantage. Listen to them when they tell you a price range or payment you will need to be able to get financing offered.
Expect to need a down payment of 10-25% and / or a Co-signer depending on the type of bad credit and the amount of good credit you have. Also expect a high interest rate 15-26%. Usually the more you put down the lower the interest rate. This is because your large down payment will help insure the bank will get all their money back if something happens and you don’t finish your payment obligation.
Most online offers of auto credit will sell your information to these dealers when you fill out the online application. I know I have worked for dealerships that buy hundreds every month. So cut out the middle man and control where your personal information goes. Don’t fill out an application on line unless you are convinced it goes DIRECTLY to the dealer or lender of your choice.
Make sure any loans you accept will be reported to the credit report. You don’t want to make payments on a car and not get credit for it.
Most buy here,pay here lots don’t report to the credit reports. like an outside lender at a franshised dealer will.
Take a look at Loan-Com.info. They have hundreds of different LEGIT offers. Do a seach for “bad credit car loans.” They have dozens of loan programs and lenders who offer competitive rates and affordable terms.
You can use credit repair agency to fix your credit – for example this one – - They can clean lots of bad stuff from your credit report – and do it much faster than yourself, so your credit will go up fast.
After credit repair you can get car loan with minimal interest rate.
You go to one of those hole in the wall places and you pay a ridiculous rate. Try to see if someone will cosign for you. It might help and you can go to a reputable place.
i have bad credit, and the only luck i have had with getting a car loan (besides with a co signer), is the buy here pay here dealerships. you pay a high rate, but once u are able to get a car from a regular dealership, most will take the car back without putting a repossesion on ur credit..but u will lose all the money u had put on it so far. i hope that helped, & if u have any other questions about it, feel free to email me
you can also try the regular dealerships that work with people with bad credit. to get a car loan thru a bank, u have the best chance by buying a brand new car. the reason for it is because if it gets repossessed, they will be able 2 sell it easier and at a higher price.
More details would get you a better answer. In general many franshised dealers will have a person (Special or Secondary Finance MGR) that will have a selection of lenders that deal with problem credit.
When you go to the dealership insist on talking to that person, don’t waste time with a salesperson before you get to talk with the Finance Mgr. They will usually have the experience to look at your credit and application and tell you your chances of getting approved and the best way to present your situation to the lender. USE THEIR EXPERIENCE to your advantage. Listen to them when they tell you a price range or payment you will need to be able to get financing offered.
Expect to need a down payment of 10-25% and / or a Co-signer depending on the type of bad credit and the amount of good credit you have. Also expect a high interest rate 15-26%. Usually the more you put down the lower the interest rate. This is because your large down payment will help insure the bank will get all their money back if something happens and you don’t finish your payment obligation.
Most online offers of auto credit will sell your information to these dealers when you fill out the online application. I know I have worked for dealerships that buy hundreds every month. So cut out the middle man and control where your personal information goes. Don’t fill out an application on line unless you are convinced it goes DIRECTLY to the dealer or lender of your choice.
Make sure any loans you accept will be reported to the credit report. You don’t want to make payments on a car and not get credit for it.
Most buy here,pay here lots don’t report to the credit reports. like an outside lender at a franshised dealer will.
Take a look at Loan-Com.info. They have hundreds of different LEGIT offers. Do a seach for “bad credit car loans.” They have dozens of loan programs and lenders who offer competitive rates and affordable terms.
You can use credit repair agency to fix your credit – for example this one – - They can clean lots of bad stuff from your credit report – and do it much faster than yourself, so your credit will go up fast.
After credit repair you can get car loan with minimal interest rate.