Question
Auto Loan with bad credit?
When Tax Season 2010 rolls around,I want to buy a used car.But my credit is somewhat bad.Not horrible,but not great.I am paying more than my monthly due on my credit card bill every month,and I haven't missed a payment in more than a year. I asked some friends about Auto Loans,and they said I most likely wont be approved for one without a Co-Signer.The problem is my Dad never established credit.He grew up a hippie,and he still is,so hes never gotten a credit card,or bought a house,or a new car.So he can't co-sign my auto loan. So how do i buy a used car from a dealership or a private seller,without an auto loan?
6 months ago - 7 answers
Best Answer
Other Answers
Easy Just Go to one that doesint require it
by dannyboy9780- 6 months ago
The reason why the economy is in such rough shape is because people with hardly any money want unneccessary items. And too many of them too. You have bad credit for a reason. Rethink it, do you really need a car?
by Ross- 6 months ago
There are still quite a few lenders that will still lend auto loans with fair credit. Try www ... I know they do used and new car loans.
by Lisa J- 6 months ago
My credit wasn't great when I applied for my first auto loan. I even had a bankruptcy on my record still and I was still able to get a brand new car. I would suggest going to a large dealership because they are more likely to work with you, they can be more flexible and give you more options. Smaller dealers, or private dealers aren't as willing to negotiate usually. It's totally possible for you to get a loan on your own, but be prepared for a high interest rate and have a nice down payment ready.
by fmxkrazyone- 6 months ago
You can probably get a loan, but the interest rate will be so high that a car you buy for $4000 will end up costing around $8000. How does that sound?
by knowitall- 6 months ago
Lol Ross, do you live in a farm town? Most ADULTS need a car. I live in San Diego, Ca - We are COMPLETELY spread out, and if you do not have a car its hard to get places (Even with public transportation) And bad credit can spawn from all reasons (School loans, loss of job, health issues) it does not equal irresponsibility all the time. Realistic speaking, if is always possible to get a auto loan. As long as you are not rocking a 400 score you can get one somewhere, but expect to get a super high interest rate out of the roof or put an arm and a put down for the car.
by Kimberly J- 6 months ago
Tessa, I was in the same scenario as you not to long ago and I found that online companies were more helpful. Sure the rates were worse, but don't really have a lot of choices with bad credit. I use this company tinyurl ... Hopefully it helps, Scott
by Scott L- 6 months ago
freecreditreport.hotusa.org - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
by David- 6 months ago