| Posted By |
Message |
Holly
Prayers to those who need them
Member since 5/05 6631 total posts
Name:
Holly
|
Is it possible to get a car loan with bad credit?!
I have been making my cedit better, but from college years, and a few screw ups, my credit is not ideall...
But I need a new car bad & I don't know what to do....
Would they just give me a super high interest rate? Would they combine me & DH & do it that way?
I have never bought a car, I am still driving one my parents bought me used like 10 years ago....
help
|
Posted 4/13/11 10:39 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
fujamaga
Loves her babies!
Member since 5/10 1513 total posts
Name:
Cathy
|
Re: Is it possible to get a car loan with bad credit?!
Yes it's possible to get a car loan with bad credit, you would just get a really high interest loan.
|
| Posted 4/13/11 10:45 PM |
| |
|
kimmaymb20
a year of surprise
Member since 7/09 1119 total posts
Name:
Kimberly
|
Re: Is it possible to get a car loan with bad credit?!
Yup sure can your just going to have an abnormally high intrest rate but your in luck in nys a car loan helps your credit score in the long run
|
| Posted 4/13/11 11:10 PM |
| |
|
Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
|
Re: Is it possible to get a car loan with bad credit?!
Is it possible to have a parent codify a loan for you?
|
| Posted 4/13/11 11:20 PM |
| |
|
Holly
Prayers to those who need them
Member since 5/05 6631 total posts
Name:
Holly
|
Re: Is it possible to get a car loan with bad credit?!
Posted by Mommy2Boys
Is it possible to have a parent codify a loan for you?
its a possibility...would that make my interest rate lower? 
|
| Posted 4/13/11 11:50 PM |
| |
|
fight the future
Master of my domain.
Member since 3/10 2067 total posts
Name:
Rebecca
|
Re: Is it possible to get a car loan with bad credit?!
The bigger a down payment you can make the better youll be!
|
| Posted 4/14/11 12:26 AM |
| |
|
SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
|
Re: Is it possible to get a car loan with bad credit?!
We're in the process of buying a car now, and playing around with the numbers we found that the difference between a 3% interest rate (better than average) and an 8% interest rate (terrible) is about $30 a month. That's for us, because we're putting half down. But it shows that even if you get a terrible interest rate, you'll probably be able to afford a new car (maybe just with fewer options if you want to keep it at the same price per month).
|
| Posted 4/14/11 6:26 AM |
| |
|
christinec2010
LIF Adolescent
Member since 10/09 637 total posts
Name:
Christine
|
Re: Is it possible to get a car loan with bad credit?!
When we went to buy our car in 2009 the finance department had us put more money down since DHs credit score was bad. It also helped that I had a good credit score.
Good Luck.
|
| Posted 4/14/11 10:01 AM |
| |
|
