I have a low credit rating and I have no car. For obvious reasons this can put a damper in life in general. What is the easiest and legal way to get a car with bad credit?
Honestly if you are working someone will sell you a car. The interest rate will **** but bad credit is hardly ever a problem when buying car. Try to stay with major dealerships. The interest will still **** but it wont’ be as bad as the small used car dealerships that prey on people like you.
lots of money down, and co-signer will help you. banks look at risk factors on car loans. value of car to loan value. Debt to income. income itself. etc This is why the more money you put down the lower the risk for the bank. the better the rate. Co-signer will help, but his or hers income will not help you as much. Unless it is a parent or spouse. The easiest way to get a car is to call a dealership and get yourself approved.
Don’t get $$$ in your eyes and think you can purchase high dollar vehicles. your payment typically will need to be around 16% of your monthly income. and a good rule of thumb is that for every $1000 you finance you’ll have $20-30 of payments
Dc you are wrong New can be a great choice. Larger rebates equal free money. And if you use a Costco program you are guaranteed of a fair price on your new car purchase. If you do not have a costco card. its $35 well spend. (costco is west coast store) Or otherwise have fun and negotiate your way down.
ther are few steps:
1. go to a Credit union open an account.
2. Find out WHY you have bad credit and resolve those issues.
3. get a consumer reports buying guide to see ratings oin cars. first car, always get used. its cheaper and insurance is cheaper
4. shop insurance before you buy your finally choice car
5. get loan thru credit union.
Honestly if you are working someone will sell you a car. The interest rate will **** but bad credit is hardly ever a problem when buying car. Try to stay with major dealerships. The interest will still **** but it wont’ be as bad as the small used car dealerships that prey on people like you.
Cosign with a person who has better credit than you
lots of money down, and co-signer will help you. banks look at risk factors on car loans. value of car to loan value. Debt to income. income itself. etc This is why the more money you put down the lower the risk for the bank. the better the rate. Co-signer will help, but his or hers income will not help you as much. Unless it is a parent or spouse. The easiest way to get a car is to call a dealership and get yourself approved.
Don’t get $$$ in your eyes and think you can purchase high dollar vehicles. your payment typically will need to be around 16% of your monthly income. and a good rule of thumb is that for every $1000 you finance you’ll have $20-30 of payments
Dc you are wrong New can be a great choice. Larger rebates equal free money. And if you use a Costco program you are guaranteed of a fair price on your new car purchase. If you do not have a costco card. its $35 well spend. (costco is west coast store) Or otherwise have fun and negotiate your way down.
ther are few steps:
1. go to a Credit union open an account.
2. Find out WHY you have bad credit and resolve those issues.
3. get a consumer reports buying guide to see ratings oin cars. first car, always get used. its cheaper and insurance is cheaper
4. shop insurance before you buy your finally choice car
5. get loan thru credit union.