View Full Version : Getting an auto loan
max_dusette
Aug 19, 2008, 11:52 AM
I have been trying to get an auto loan and I just don't know what to do or were to go to get an auto loan with bad credit. I REALLY need help and fast. PLEASE. Thank you.
Diane Carol
Aug 19, 2008, 03:53 PM
If you've got bad credit your only alternative is to deal with the auto dealership.
They want to sell you a car... and will charge you far more interest than you should ever even think to accept... but it sounds like you will.
Got a credit card? There's a ready source of cash. Mind you, you begin to pay interest the moment you take the cash. But it's there, available 24/7/365.
Got any savings... any investment in anything that can be turned into cash.
You've got something to suggest to a bank that you have collateral. Own a home, you can get usually prime rate plus very little above that if you give over your house as collateral.
Insurance? The kind that you can get cash advance on?
If you are serious in wanting to keep your head above water and get back a credit rating, then take public transit and forget buying a car which will put you deeper in debt and make your life miserable.
max_dusette
Aug 19, 2008, 04:11 PM
Thank you very much.
Fr_Chuck
Aug 19, 2008, 04:14 PM
Yes, almost every town has a "buy here , pay here" lot, there are dozens within a few miles of me. All you need is a down payment and a job.