Saturday, October 31, 2009

How do you get a car loan if you have no credit, but bad credit?

One of the things car dealers look for is established credit, if you do not have it they offer the first time buyers package.



Only I don't qualify because even though I have no credit, I do have bad credit because of a Verizon phone/Net bill and a medical bill. Now paying these off is a step in the right direction but it's not going to help right now in concerns to getting a loan.



Normally I'd be like screw it and get a used private one, only I went through two of them in the past year hurting my self in the process.



Is there ANYTHING I can do?



How do you get a car loan if you have no credit, but bad credit?

Auto finance is what I do for a living and there are lenders out ther that will approve you without a co-signer.



Find a dealer that advertises Special Finance and talk to the Manager, they can help you.



How do you get a car loan if you have no credit, but bad credit?

Get a co-signer



How do you get a car loan if you have no credit, but bad credit?

try a co-signer



How do you get a car loan if you have no credit, but bad credit?

Cosigner..or you can use drive time.com they sell cars to those with bad credit. You basically have to get a cheap car and pay off a smaller car loan, then trade that in and build up to a better car. Really no other way.



How do you get a car loan if you have no credit, but bad credit?

Bad credit is bad, it keeps you from buying a house, a decent car, etc...about the only option you have is to get a car from one of those lots where you pay your payments to the car lot...which means you may not get that great of a car, but if you keep the payments up and you pay off your other debt, you will be back on the road to correcting your bad credit. About the only othe option is to save up and get a car that you can pay cash for...depending on your income, it may mean having to drive a $500 car for a while, but while you are driving it you may be able to save for a nicer car.



How do you get a car loan if you have no credit, but bad credit?

you can't say you have no credit when your credit is bad!



sorry! you just have bad credit! :( so that's why you don't fall under %26quot;No credit%26quot;



and yes everyone will look at that!



but your doing what is right look into paying it off mainly the phone and net bills medical bills sometimes are overlooked!



pay off the main onese first!



With you haveing bad credit you may have to get a co signer (someone with good credit) or show callerial!



so if your looking for a car your best bet is to get a beat up forsale on the side of the road first untill you have paid off your bad credit! then 7 years after that it will be off your record and you will have no credit again!



if you don't buy or go into default anywhere with in the 7 years!



Best wishes



It's hard!



How do you get a car loan if you have no credit, but bad credit?

you can go to a dealer that advertises, %26quot;no credit refused%26quot;, there are some of them around, meanwhile, you can make arrangement to start paying off your bad loans and ask the credit bureau to lift the black mark, talk to your credit counsellor at your bank, or you can walk and take the bus like I did for four years cause I was too proud and to stubborn to pay my cell phone bill and drive a not too cool old but in good shape used car. (or admit I needed some help to pick a good one)



How do you get a car loan if you have no credit, but bad credit?

The only way is to buy a car from a lot that has %26quot;buy here, pay here%26quot;, they normally don't care about your credit, but you pay a much higher price than the car is worth on top of a outrageous interest rate.



If you don't need the car right away, save your money and buy a used car from a private owner and pay cash for it.



How do you get a car loan if you have no credit, but bad credit?

Co-Signer helps a lot. Goto car dealers that say good credit, no credit, bad credit, no problem. Their are plenty of them around. Or goto your bank and sit down with them and ask them how much they will approve you for, that way you will know how much you can spend on a car.



How do you get a car loan if you have no credit, but bad credit?

I was in a similiar situation due to a bankruptcy. I ended up going to a dealership that sells used cars to people in such cases. The only thing is, the cars aren't %26quot;nice%26quot; and you end up paying about 3x what it's worth, but as long as you keep up on your payments, it shows up well on your credit report, cause they do report to credit bureaus. I was so glad to get that car paid off and have a good mark on my credit report and since then I have had excellent credit and the offers just keep coming in! I ended up being able to purchase a BRAND new Sebring Convertible!



How do you get a car loan if you have no credit, but bad credit?

Fastest way is to get someone to be a co-signer for you. That means they will be responsible for the debt if you fail to pay. Out side of that, work on improving your score. My business is helping folks get from a denied loan to an approved loan. You can check us out here: http://www.extreme-debt-makeover.com/



How do you get a car loan if you have no credit, but bad credit?

You CAN get a decent car loan, even with bad credit. I've done it, but you'll have to look around. That's one of the BIG mistakes people make...just taking the first offer that's given to them when they go to the dealer. Be smarter than that.



WARNING: DON'T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It's a better option, you don't have to take what they're offering if you don't want it, and it's better than dealing with the car dealer's people.



There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below...



http://www.axalda.info/bad-credit-car-lo...

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