Ask Experts Questions for FREE Help !
Ask
    boop21197's Avatar
    boop21197 Posts: 41, Reputation: 2
    Junior Member
     
    #1

    Aug 10, 2007, 04:15 PM
    Wanting to buy a car
    :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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Aug 10, 2007, 05:29 PM
    Can they? Of course they can do anything they want to. Will they, most likely not.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    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's Avatar
    DianeV Sr Loan Officer Posts: 76, Reputation: 9
    Junior Member
     
    #4

    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.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Buy Another Car or Use Existing Car 'til It Runs No More [ 7 Answers ]

Please help me resolve a debate with my husband. I am a first time car owner. I bought a new Jeep in 8/04 for $23,600. I put $5K down on the purchase + my loan is for 60 months. I would like to trade in the liberty before it gets too old + has too many miles on it. Does it make better sense to...

Going Through Divorce.ok to buy new car? [ 1 Answers ]

Going through Divorce process... very close to final paperwork... I need a new car to ensure I can transport our kids to school and for me to get to work... will buying a new car while going through the divorce process be an issue?

Lease or buy a new car [ 3 Answers ]

I am retired. I drive a 2000 Jaguar. In a couple of years I want to get a new jaguar.Would I be more prudent to lease a new Jaguar or buy one? I drive about 12,000miles a year. Thank you very much.


View more questions Search