♥Whisper Wind♥
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THERE IS A DEALER (here in P.C) THAT SAYS THEY WILL FINANCE YOU, WITH NO MONEY DOWN, AND BAD CREDIT, OR THEY WILL PAY YOU $500. |
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SmartyArty
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Even if you could find someone willing to loan to you, the finance charges and interest would kill you. |
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Jo Blo
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yes,, not much of one,, but a car. |
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Kayser Soze
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You probably can, but they will ask you for more money up front and the monthly payments are going to be high. |
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open thoughts
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You can, but you have to go to a car lot which specializes in credit problems, and you will pay through the nose in interest. |
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Adam B
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You'll probably need a score of at least 620. Until you hit the 580 mark you're considered either a very bad or bad risk for any loan. |
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bojanb@sbcglobal.net
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yes you will be paying over 15% INTEREST |
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naddel
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That will be very hard to find. I don't know where you live, but you could try companies like Drivetime. But normally they want some money down too. |
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Tara
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It can be done. Some car dealerships can get you a high risk loan to buy a car. However, the interest rate is extremely high. If you desperately need a car, then you may have no choice but to go this way. I'd buy a cheaper used car. Pay off the loan and start building some good credit. Also, do anything you can to clean up your credit history (pay off bills, etc.). Then maybe when you trade in the car, you can get a better one and finance it at a descent interest rate. Good luck. |
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SmartAleck
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it is very unlikely. you may find someone that will finance you, but they will doubtless require a large down payment (by "large," i mean $2500 or more). you are going to have to come up with a down payment and work on your credit score. even if you do pay the larger down payment, your monthly payments will be much higher, you will end up paying much much more for the vehicle than the asking price and it will take far longer to pay off, since the 491 credit score will net you the highest interest rate. |
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2shay
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usually, not unless you at least have a trade in. There are some places that charge 21% interest with like $500 down. Stay away from places like that, you will wind up paying 2x as much as the car is worth.
Best bet, bring your credit up if you can. This is hard to do escpecially, if you have no money. What I have done cause I too have bad credit, I contacted all of the people I owe money too and set up a very very very small payment plan $5 and $10 a month for some. This has atleast stopped them from reporting bad on my report, it now reads, paying as agreed.
Possibly buying a car from a friend or family memeber can help if you have that option.
If the case is not bills but not enough credit, you may want to try estabilishing some by going to rent a center or getting a credit card. Sometime it costs money to establish credit.
Good luck to you, this is a hard game to play. |
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joyceeleann
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You can buy one but they will ask for something up front to show good faith and you will get your financing at a very high rate.
Checkout www.drivetime.com They are a car sales company for bad credit |
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SPIFIMAN1
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Special Finance is what I do for a living and with your score I only have 2 out of 15 lenders that would ever look at you.
You will have to make a large down payment due to the fact that the only lenders that will approve someone with your score are going to charge the dealers between 20% and 25% of the amount financed as a fee.
So in reality you are looking at between $2,000.00 to $4,000.00 down depending on what you are looking to purchase.
I know that this sounds like a lot, but you are going to get the opportunity to re-establish your credit and with a 491 score you need to.
Whatever you do, do not go to a buy here pay here lot, they overprice their vehicles and 90+% of them do not report to the credit bureaus so all of the payments you make do nothing to help your credit score. |
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beauty s
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maybe but u would have to put down a big down payment |
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?
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do not know of any, no money down who will trust that one now days. Let us know if you find one. |
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Me
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It depends. Some dealers (small dealers) sometimes dont ask for money down and they dont check your credit or the let you purchase a car with good or bad credit..good luck!! |
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Nancy O
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Yeah but the interest rate will be close to illegal and you will lose your paychecks if you default. |
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Aaron B
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you may be able to, but your interest rate is not going to be attractive. That's if the loan gets picked up at all. Honda finance is good for picking up low or no credit loans, but their interest rates are in the 18-23% range. |
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soft rockstar
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i doubt it. i work for a bank and we won't even open an account for a person with a credit score more than 480, never mind give them a car. |
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