Very Bad Credit in Desperate Need of a New Car

by Amelia
(New York)



Question: I have very bad credit and am in desperate need of a new vehicle. I have had several personal tragedies in the past 10 years, and am just now starting to get my feet back on the ground.

My credit is completely shot. I consolidated debt, and the firm destroyed my credit even more! I have maintained employment. I currently work three jobs and am raising two little girls on my own. I need your help!!


Bad Credit? No Problem! Bad Credit Auto Loans



Answer: Hi Amelia,

Sorry to hear things have been rough for you. I have a few possible scenarios for you. Both are probably going to require some money down on your part. I would think on the low end that you will need $500, but the more the better.

First, A Buy Here Pay Here (BHPH) dealer may be the best option for you. Some BHPH dealers will sell a car with as little as $500 down, but as I mentioned above the more money down the better. With more money down you'll have more options as to what kind of car you can buy.


Second, if you do have a decent ($2000 or more) down payment, then a dealership other than a BHPH dealer could probably help. Especially one that works with Credit Acceptance.

Credit Acceptance guarantees credit approval, no matter how bad it is, but down payment is key to getting a nicer vehicle.

Fill out this quick loan application Any Credit Car Loans and your application will be forwarded to a dealership in your local area that specializes in bad credit car loans.


Third, take a look in your local paper and find fairly inexpensive cars for sale. You may be able to find a seller that would be sympathetic to your situation and will take your $500 as a down payment and allow you to make small payments to them.

Most sellers will not do this, but if you were to find an older couple that is not in need of the money, they may be willing to help you out.

Be sure if you do make a deal like this that you protect yourself. Get a receipt for the down payment and be sure you are listed on the title as the registered owner.

The seller will more than likely want to be listed as the lien holder, but they are just protecting themselves and that is okay until the balance is paid in full.

Keep track of all the payments that you make and if possible, have the seller write you a receipt each payment.


Some Key Points

Unless you have a rather large down payment you will not be able to be picky. Keep in mind that you "need" and don't simply "want" a car. Find one that is going to be as reliable as a cheap car is able to be and don't be too concerned with image and/or options.

If possible, see if a family member can help you out with some down payment, because the more the better. If you do work with a BHPH, take someone with you that knows cars to give the car a good once over mechanically.

Expect to pay high rates and finance for a short term. Pay on this vehicle well and you'll start to rebuild your credit slowly but surely. Next time you buy it shouldn't be quite as frustrating (you won't qualify for prime rates, but it will be a little bit easier).

Hope this helps and please don't hesitate to contact me if you have any further questions...Justin

Even if you have had trouble in the past, we can help. 60 Second No Obligation Loan Application!

Comments for Very Bad Credit in Desperate Need of a New Car

Click here to add your own comments

loan offer apply now NEW
by: Nelson

Hello,

We are Christian Organization formed to help people in needs of helps,such as financial help.So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email today for such help (loans, start up money): robertshnelson@gmail.com for the bible says""Luke 11:10 Everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened"so do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more. Please this is only for a serious minded and God fearing people in financial hardship and want to find their way out.

You are advise to fill and return the details below..

Your Name:______________________
Your Address:____________________
Your Country:____________________
Your Occupation:__________________
Loan Amount Needed:______________
Loan Duration:____________________
Monthly Income:__________________
Cell phone Number:________________
Have you applied for a loan before: ________________
If you have applied for a loan before, where you treated honestly? where are the company located?...

Act fast and get out of financial stress, mess and hardship by contacting ROBERT SHAWN NELSON loan company today via Email at: robertshnelson@gmail.com .You shall be treated with the best of our resources until you get this funds transferred into your account, and your quick and fast respond determines how fast you shall be receiving your loan. Without any delay Apply for your best and easy loan here with us. Please email to us via

email: robertshnelson@gmail.com
Best Regards
Mr. Robert Shawn Nelson

DEBT CONSOLIDATION LOAN AVAILABLE NEW
by: Ponder Walt

Good Day, Are you looking for a loan? We give out loans from the range of $5,000 to $50,000,000. Our loans are well insured and maximum security is our priority. If you are situated in America, Asia, Russia, Europe or England Contact rymussche234@gmail.com for more details.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Car Buying Questions.