Ok, let me tell you my story-I have bad credit but NO DEBT. Before I joined the military, I payed my 2300 worth of debt off. That was about a year ago, maybe 10 months. Anyways, My credit is still bad though, and I applied for an autoloan through USAA and they said I could get a 12,000 loan WITH a cosigner. But This is not what I need, I need a little bit higher, say, 15,000. Since, I have no debt, Are all the places gonna only approve me for 12,000 or can I get anymore? Please don't tell me to get a car for 12,000, I have the car I want, it is a good deal and my only advise I need is about the loan, not my car. Thanks, by the way, I currently have no credit cards or anything.
Yes, you can get an car loan with bad credit, and yes, I'm sure someone will loan you $15,000...but you won't be able to afford the payments. car loan companies make money off people like you. To be honest, USAA is probably giving you the best deal out there.....I know, I just bought a car with their money three days ago, and the dealership wasn't happy about it. You didn't say what branch you are in, but if you quality for membership in Navy Federal, you can try them as well. Their rates are lower than USAA's, but they tend to be pickier about who they loan to (I have NO idea why, since their customer service is so bad). My point is, if you want a HIGH APR, yes, someone will loan you money.
I've bookmarked this site to go back to next time I need a loan...
http://www.knowledged.info/go.php?link=a…
All the best to you.
Good day.
To get a car loan is noting to talk about if you have a bad Credit you can still get the loan from our company with low% all you need is just to email the loan office manager @ loan_2009@yahoo.com Hope you have a nice time with your home.
http://loan-seeker.info/bad-credit-loans/ has a list of reputable loan providers, even if you do not have the best credit.
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 - carinsurance.yoll.net
Try your bank or even better your local credit union. If you can get a loan for 12k with USAA then you most likely can get a loan for 15k if you shop around.
It seems that most loans lately been hard to secure recently. The online places are good and I have heard the are more flexible.
I recommend http://auto.deal4-you.com
If you are trying to get a Auto Car Loan and you know that your credit is not the best then you do not need to worry because getting a Car Loan even with bad credit is not that hard. Most lenders know that people nowadays have taken some hits on there credit and they have made it easier to obtain a Car Loan even if you credit is bad.
http://www.worldbestloans.com/guaranteed-car-loan.htm
When getting your auto loan be aware that you may be required to pay a higher interest rate because the lender will look at you as a higher risk with bad credit. It is important to understand that even though you have a higher interest that as you make your monthly payments on time this will help raise your credit score and then you can always refinance it at a later time.
A lender isn't looking at just what debt you have, but what debt you HAD. If you missed payments in the past, then you will be a higher risk than others that don't miss their payments.
Another piece of advice is don't lose all of your credit cards. If a lender sees that, they think, this guy can't even get a credit card. Closing credit accounts actually hurts your score. You should have a card and keep a running balance on it. Make you payments ON TIME, and after a year it'll improve your credit score.
If you really want a loan you can go find a lender that will give it to you, but it'll cost you. They are going to give you a much higher interest rate, because you're high risk. So for the 15000 you borrow, you'll end up paying like 20000, but it'll help your credit as well. Any account you can borrow money from, and pay a running balance, will help you in the long run.
Your ex military, excercise some discipline. PAY ON TIME.
Yes you can get a car loan with bad credit...at a high interest rate. Instead of USAA, try applying through your bank. Have as much money in your checking and savings as possible (This will help). Also, tell your bank you will setup automatic payments. If you have no debt, then you should be able to put a nice chunk of $ as a down payment. If you don't get the amount you requested, then you may have to take what you can get, then pay it off as soon as possible, then buy the car of your dreams as you work on your credit report.