John asks…
Where can i be approved for a $7,000 dollars car loan, with no-bad-but-new credit history?
I‘m in need of a car up grade, but i never had any loan, credit card, or even a telephone plan that requires credit… what can i do to get approved for a car loan of 7,000 or less?
admin answers:
Depends on your age, income, length at residence, time on job, down payment & so forth.
As a general rule, most people with no credit cannot get a $7000 loan without a HUGE down payment and/or a cosigner with very good credit.
Oh, and you must be at least 19 to finance.
Betty asks…
Bad credit and need car loan.?
I have bad credit I am behind on payment of some bills and I need a car so that I may get to my new job (and pay off some bills) I am a student. Anyone know where I can get a car loan with bad credit? I am in the chicagoland area.
admin answers:
If you’re a student, maybe you can get a student loan and pay your car with it: http://students-loans-consolidations.com/ Don’t tell them it’s for a car, but to pay back some old debts.
Or you may try to get a personal loan or credit card : http://simple-credit-cards-and-loans.com
Good luck !
Ken asks…
Is there anyone know where I can get a loan for new car with very bad credit….
Is there anyone know where I can get a loan for new car with very bad credit….
I need really helpful informations about to get a loan with new car. But I have tried many times since they are unable to approve my loan due to I have very bad credit. I want to get a new scion TC. Is there any way can get a loan for new car? what webside should I go? I‘d ratter put 2,000 as downpayment. and do five years loan. PLEASE HELP…..
Thanks for reading
or contect me on MSN chihuahuaaaaaaa@hotmail.com
admin answers:
Talk to your parents. I doubt anyone else will give you a loan. A NEW car? Take your $2000 & buy a used car & improve your credit.
Chris asks…
How can someone with bad credit get a car loan?
KBB claims my car value is 800 dollars, and I‘ve got 3000 dollars saved for a down payment and can afford 3-400 dollars on a car payment. Downfall is, my credit is bad. How can I get a financed for a new car? I‘m tired of throwing money away on fixing and replacing parts on car that I feel that I cant even drive on the highway with. Help please!
admin answers:
It depends how bad your credit is and what your income is and your debt to income ratio, to know if you would get approved for an auto loan. There are bad credit auto loans available, but if you qualify be prepared to pay a higher interest rate, again that will be based on what your credit score is. The large down payment will help….good luck!
Mandy asks…
Can i get a car loan with bad credit?
Heres my situation I know i have bad credit My score doesnt pass 600 point I have 2 fulltime jobs that allow me to bring $30,000.00 a year The car i want is $60,000.00 brand new Now heres the thing I have a down payment of $40,000.00 So money talks b.s. walks Now my question is Will a bank work with me and loan me the $20,000.00? Or am i better of saving the other $20,000.00 Btw i dont owe anything My credit is bad from previous unpaid credit cards And its a 2010 bmw m3 And thats the only car that interests me.
admin answers:
Save that $40k then. You can buy that car used in about 2015.
Ruth asks…
Can I get a car loan with bad credit?
A few months ago, I got hit with the whole sub-prime mortgage thing and my mortgage rates shot up. I wasn’t able to afford it so I had to really strech and make my payments at the expense of some other bills (credit cards, cell phone, etc). The good news is that I was able to sell my place in a couple of months without foreclosing or anything (paid in full). But now, the month or so after the sale, I‘m getting credit limit reductions from credit cards since I missed those payments and one even got closed (it was just a store card but still looks bad, I know).
Now, I told you that story to ask you this – I need a car and want to buy something nice. Since I‘m pretty sure I can‘t afford a nice NEW car, I‘ll be getting a used one for about $15K. What are my chances with a loan from the bank with all the stuff I mentioned earlier? All that stuff happened only a month or two ago. My income is good and I have gotten back on track with finances. My credit score is between 600 – 618.
admin answers:
This is based on information from SPIFIMAN1:
Auto loans are based on the following factors:
1. LTV (loan to value).
2. Term of loan.
3. Age of vehicle.
4. Miles on vehicle.
5. Down payment.
6. Time at job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income ratio.
What auto lenders look for is as follows;
1. 3-5 years in the bureau depending on the lender.
2. 4-open trade lines paid as agreed.
3. 1-installment loan paid 12-times for at least $150.00 a month.
4. 2-years on the job and at residence.
5. 10% or $1,000.00 down payment.
6. Monthly income of at least $1,800.00.
7. Vehicle not over 5-years old with less then 50,000 miles.
8. Monthly payment not to exceed 20% of monthly income.
9. Total debt to income not to exceed 45%.
10. LTV between 115% and 145%.
For prime rates you need a FICO score of 680 or above.
I am sure you will be able to get a car loan (with a somewhat high interest rate), but I would recommend saving money for a car with your own cash. That way you won’t have to worry about a car payment for the next 4-5 years, and the interest that comes along with it.
Lizzie asks…
How do I get a car loan with a crappy credit history?
I‘m a couple grand in debt, not much really but i‘ve been late on a lot of payments as a result of being unemployed for a time. My car is about to give up but right now i‘m new in my job and can‘t afford to pay the huge payments that my credit card requires. Does anyone know of a good way to get a car loan depite bad credit?
admin answers:
Go to one of those places that no on will be turned down! You will pay a higher interest payment but they do work! Or get a co-signer!
Robert asks…
bad credit… car loan?
I purchased a condo 2 years ago, hired an inspected and the inspector missed a sewage leak in the crawl space that resulted in the 60% of the crawl space being covered with toxic mold. 6 weeks later and 2 failed remediation’s I was hospitalized and had to abandon the condo and all my personal belongings. In the past 2 years I have moved no less than 12 times and had to discard all my belongings and buy new cheap clothing due to possible cross contamination. Due to the cost of attorney’s fees (who couldn’t help me because I ran out of money), Dr’s bills, hospital stay’s, emergency room visits, medications and supplements my credit card went from having a zero balance to being maxed out. In order to pay back a portion of the credit card the bank repossessed my truck (cross collateralization) which I was living in because it was the only place that I could find that was mold free and could no longer afford to keep replacing my things every time I had to move.
I have now lost everything I own, my credit has been destroyed and my health continues to deteriorate because the house Im living in had mold but it was removed 9 months ago but because I am so hypersensitive the micotoxins that remain in the carpet and furniture still affect me.
I need to purchase a reliable vehicle so I can sleep in and get me to and from my Dr’s appointments but cant because of my bad credit. I have never been late on any debts and before I purchased the condo my credit was immaculate now because of my constant misfortune Im left without a vehicle. If I don’t find financing soon I will soon be homeless.
Can anyone offer some suggestions as how I may ascertain financing without being charged 20% + in interest without a co-signer? Im not a credit risk but rather a victim that’s trying desperately to recover from mold exposure.
Thank you
Thanks for both your replies, my life has been destroyed all because the inspector I hired didnt do his job. In the past 2 years I have spent literally tens of thousands of dollars looking for safe housing and cure for mold exposure, now I don’t even have a vehicle to get me to my Dr’s appointments and Im just as sick today as I was after the exposure.
Thanks again
admin answers:
There are peer to peer websites where you might get some help. These are sites where you post your loan information and private individuals can choose to fund a portion of your loan. Google P2P lending or peer to peer lending to find some. There are no guarantees that anyone will fund your loan or that you’ll do better than 20% but you will get a better rate than you could get through other lenders.
William asks…
Get a Car loan with Bad credit!!!!?
My wife and I are needing to get a new car ( used car )
Either one of our credit is good moreless sucks.
Both our credit scores are under 570
someone stole my ID and got alitte on her!!
Is there anywhere I can go to see about getting a loan?
Car is a 2002
$18,500
Kelly Blue book is almost 25 grand
Any ideas??
admin answers:
I would go for a much cheaper used car than that. You’ll have a better chance.
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