Overhaulin'

How can I get an car loan with very bad credit?

I am in desparate need of a car loan. My car was stolen over the weekend and I need a car where I live. I have what most would consider Bad credit and need some advice on where to shop for a loan without paying an outrageous interest rate. The other problem is that I don't want to apply for too many lenders because it lowers your credit score even more. Please help. Thanx.

Public Comments

1. Co_signer or a buy here pay here lot, such as Drive time or a local dealer...Just make sure they report to the credit agency or it will all be for nothing. But you honestly might be able to get away from the high intrest rate......but if you do get a car financed at a high intrest rate do it for 12-18 mo and then you can re-finance when your credit is better....if you have money to put down it helps....
2. Multiple applications for a car loan in a 30 day period will only be considered as "One" on the credit score. A big downpayment will make getting a loan easier.
3. Sadly, you can't have it all... if you have bad credit, you're not going to be able to avoid high interest rates. I wouldn't ask for a co-signer, though, because I cosigned with someone once and it ruined the friendship (because there were trouble with the payments, so the cosigner is held responsible if you don't pay on time.) I'd recommend talking to your bank about getting a private loan and paying for a car in cash. That way, you're not checking into alot of lenders and you'll get slightly lower (but probably still high) interest rates.
4. There are not many people in this world who do not get excited by the prospect of buying a new car. This excitement can sometimes be deflated by the whole finance thing. If your credit history is not so good<!--or basically non existent, then you may need to find a bad credit car loan.You may find some car loan here, http://best-loans.awardspace.com/guaranteed-car-loan.htm The fact is buying a car for most people is one of the biggest purchases they will ever make. Owning a car is kind of like a right of passage for a lot of people, and definitely a sign of "coming of age" for most teenagers--> Let face it, we all need a reliable car to get around, and most of us would rather drive a nice new or late car than an old bomb.
5. the availble bad credit car lenders are listed on this page http://www.wesayes.com/product1111
6. need a car loan but have bad credit.don't worry ,its better for you to try for an online loan.bcoz lot of banks in online lend loans even you have poor credit.i think that th e below website will help you to find the right solution.
7. Go to a dealer that advertises Special Finance. They will be able to help you. You will pay a high interest rate and have to put money down. But it can be done. A website I've recommended in the past would be... http://www.safelinked.info/go.php?link=auto Take care.