Re: How Do I Get A Car Loan???

Posted by MCM bait (66.149.179.202) on March 06, 2004 at 12:43:38:

In Reply to: How Do I Get A Car Loan??? posted by loser on March 06, 2004 at 09:40:44:

Just how bad is your credit? Have your gotten copies of your credit report and checked the FICO scores?

When it comes to car loans, a lot of people get screwed because they think their credit is a lot worse than it is. A car acts as collateral for a car loan, so its not as if you were asking for a personal loan or a credit card. You might be surprised to find that you're eligible to get financing, albeit at subprime percentage rates of varying amounts. The rates or eligibility could also vary depending on how much you're able to put down.

You'll find some good information at the link here: http://www.carbuyingtips.com/finance.htm

Keep in mind that local independant dealers are more likely to finance a bad debt buyer. You'll just have to shop around for APR and terms. Just don't sign anything or allow them to run credit checks until you're fairly sure they're on the up and up and you're ready to buy.

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