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boop21197 · Aug 10, 2007, 04:15 PM

:confused:
I had to file bankrup this year, at one time I had every every good credit, but when you have a teenage that needs a car, but don't tell you that they came and got it. Tends to upsets your life, lol, but anyway I want to buy a car to rebuild my credit, and I did find one that I want, it's a kia serento, I have no money for a down payment, and no money for the taxes, title, and tags. I told them that if they want this sell , that they can tack on the taxes, title, and tags to my loan payment and I told them that I can afford 300.00 car payment for a 72mo loan. Maybe I guess at 8.5 % or less.
Can they do this?
They know that I had to file bankrup
They know that my credit is poor
But they do know what I can afford
The kia that I want is a 2006 with 11,000 miles on it.
What should I do.
And can the dealer put the title-taxes-tags onto the loan?

Fr_Chuck · Aug 10, 2007, 05:29 PM

Can they? Of course they can do anything they want to. Will they, most likely not.

ScottGem · Aug 10, 2007, 05:34 PM

Loans are about risk. You have proven to be a questionable risk. You are now asking a lender to loan you more money than the car is worth. This makes it even riskier for them to recover their money if you default. So, I doubt if you will find a lender to go along. But it doesn't hurt to ask.

What you might consider is getting a co-signer.

DianeV Sr Loan Officer · Aug 12, 2007, 06:45 PM

Hi Boop: I have read your other postings and you are all over the place. You have just filed BK. You need to take a break from getting into debt right away. On another post you want to buy a house, on this one a car. Try to just get a secured credit card right now with maybe a $500.00 limit. Charge $50.00 and pay off $50.00. Car loans and mortgages are going to be hard to come by right now. You need to carefully monitor your spending and try to rebuild your credit. I am not saying it is going to be easy but it can be done.

I have had many financial difficulties in the past and with hard work I have been able to overcome them and rebuild... you can too. Just don't make the same mistakes twice.

Oh... and did I mention the angels... God listens and will help... trust Him.