Bad Credit Finance

Posted by admin on February 19th, 2009 at 12:00am

Question:
Can a person with bad credit finance a vehicle with zero money down?
I submitted a form on the internet to help me search for a bad credit finance deal and received a call from a local dealership. He wanted me to come in and I said I did not have much money at the moment but was searching, He claimed I did not need any money since it was zero money down, I then informed him how I have poor credit and he said he knew and that it was ok that it has been approved.

My question is, would it be worth going to this place tomorrow? I have no money and he claimed the first payment would not be due for another month along with the insurance. I do not want to go in and be pressured when I have no funds at the moment, so any ideas?

What sort of monthly payment should I expect? I really require a car right now.

Answers:
All dealers and online lenders will say they are the best and will have you approved. They work with high volume and the way they really see it is if they talk enough, someone will listen.
Your walking on dangerous grounds and you should probably have some knowledge, having poor credit equals high interest rates that are worth more than the life of the vehicle and will still be putting out payments when the vehicle is in the junkyard. It’s sad but true and it happens to many people with poor credit.
your main concern should be how to repair your bad credit, visit this link:http://www.usedcartips.org/CREDI.html you will find out how in addition to how bad credit works.
buy the cheapest car until such time you have built up some credit score.

Go in and talk with the salesman. Yes, you can buy a car with no money down. All you have to show is that you have a steady job and solid income for over two years and then are able to give the payments. Depending on how damaged your credit is, that will determine the total of the monthly payment. If you absolutely need a car, go talk to him and before you do, find out your monthly budget and be sure you truly can afford a vehicle and the exact amount you can pay. Go in and say to him this is what I will be able to pay a month and see what vehicles will fit your budget. Be sure you stick to the budget and factor in car insurance too, or you will have your car taken away in no time. Good luck.

Under Loans for Bad Credit