Up until the 13th, I had a 2006 Fusion that was unfortunately totaled in an accident due to snow. I was able to get that car because my mom took out the loan for me. But since she has two cars plus our house on her credit [my dad and her are joint owners of it]…her debt to income ratio pretty much froze her credit even though her score is really good, so she can’t co-sign with me for anything. My dad pays cash for everything and has never had anything other than the house on his credit, so he can’t be used as a co-signer either, because he has next to no credit. I have a car priced at about $8000 through a private seller picked out. Now I just need to find a loan. I’ve noticed there are a lot of dealerships out there that will finance people with bad credit, BUT you have to go through that dealership in order to get the financing. Are there any places that offer car loans to people with bad credit WITHOUT going through a dealer? Thanks in advance.
There are no REPUTABLE places you can go for such a loan. Your only real option is a buy-here-finance-here dealer.
And if your credit is bad enough that you can’t get a car loan through the bank where you do business, you don’t need to be financing an $8000 car. You’ll just be digging the hole deeper.
Get your mom paid off for the totaled car, then save up for a replacement. Take the bus until then. And don’t be asking them to co-sign another loan.
There are no REPUTABLE places you can go for such a loan. Your only real option is a buy-here-finance-here dealer.
And if your credit is bad enough that you can’t get a car loan through the bank where you do business, you don’t need to be financing an $8000 car. You’ll just be digging the hole deeper.
Get your mom paid off for the totaled car, then save up for a replacement. Take the bus until then. And don’t be asking them to co-sign another loan.
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If you had insurance on the car, take the settlement and simply replace the car. Do a substitution of collateral.
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Hi I am a mortgage consultant, an interest only loan is always charged at a higher interest rate than a principal and interest loan, and if you are paying interest only then you are not paying anything off the purchase price of the property, there are lots of opportunities at the moment for better mortgage deals, if you are located in Australia then contact me and I will give you free advice. shemay1@yahoo.com
It depends how much you need. There are dozens of websites out there that claim you can be approved for a bad credit loan but, as someone else mentioned, you will probably have a high interest rate. You can google "Bad Credit Financing" or other similar terms and you’ll find dozens of sites claiming they can get you approved — for a fee. You might be better off looking for an investor or rebuilding your credit first. If you have a sound business plan it is likely that someone out there will help you.
Your score is bad, since you do not have an account with the credit union you cannot get a loan. Try opening an account with them first. With your score the interest rate will be horrific
financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carquotes.sinfree.net
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