Credit Auto Loans

I went to a few car dealerships, but no one will approve me because I only have a 505 credit score. They said the only way is if I can get a cosigner.. which I dont have one. Does anyone know if there are companies or car dealers that deal with just bad credit car loans?

There's a great site that offers car loans & quotes regardless of credit. http://www.surveyking.net/cars

They also offer credit help, downpayment assistance, and much more.

2008-03-30 22:05:08 by siemprecali07

How to get a bad credit auto loan in the USA and Canada. Car loans for bad credit from Auto Credit Express

My dad said he use to claim his interest paid on auto and credit loan on his taxes as a deductible(interest only) and he said that he raised the social security retirement age from 62 to 65


I'm just curous as to how many people know the facts.

If it happened on Reagan's shift, then he would have only signed it. A bill like that would have to be written by Congress. But I don't remember when you could no longer write those off. You use to be able to write off uniform/business clothes costs as well. But each year the write off got smaller and smaller until no more.

Democrats controlled both Houses of Congress during the entire 8 years of Reagan.

2009-09-01 09:50:02 by Jack A

Price: $3.99

I'm curious to see what rate I would get on a car loan but wanted to make sure it doesn't affect my credit score. I heard auto loan and mortgage credit checks don't show up on your report (thus bringing down your score). Is this true?

Yes it does. But here's the trick... Auto inquiries and mortgage loan inquiries done within a two week time period will count as one inquiry.
So if you apply with "5" auto lenders you'll get hit for "1" inquiry which will affect your score a bit, possibly.

The reason is the credit bureau knows that people shop around for rates just like you. When I worked in auto finance I'd run people through several banks for an approval/better rate.

You can also order your own report with scores (tri merge) and use that to shop.... when you go to a car dealer just tell them what your score is and they can give you an idea. If it's a new car with a special incentive program (0%, 2.9, 5.9, etc) you usually just have to fit within the first couple "tiers" of credit (the guy with 50 points lower and 50 points higher will all get the same rate). The finance guy at the dealer should be able to tell you...

2007-08-23 19:16:46 by newtobigd78

I have bad credit but no major issues like bankruptsy, child support or anything like that....I make great money and am trying to re-establish credit...I know there are banks out there tied to dealerships that will finance me but I want to buy from a private owner and go directly through an independant bank. I plan to put down about 50% cash? Please help!

You may want to search the net for banks in your local area that may offer auto loans for people with problem credit! You may have to call and ask that bank! Explain you situation about you credit! Sometimes if you explain your situation in advance and your credit report shows that you have been proactive in taking care of finances , they might finance you! Especially with a down payment. You just have to find the car you like! Right now the economy weak, and many banks are lury giving out loans! It is all about your debt, credit score, and your earnings. However, finding the right business is the key. Therefore, you might even consider getting a private loan to finance the other 50% part! ( Capital One or Wells Fargo, CitiFinancial etc...) Or the other option is to buy a good use vehicle! There are some out there 2000 'year plus and up prices 6,000 thousand plus. It just depends on the condition and miles. Dont forget to get a internal report on the car to check if it is lemon, how many owners had the car or been in any accident!!! There are many vehilces out there use you just have to search! With hard work, determination and research you can find the rihgt one! It just take patience and time! Look in the Newspaper ( priavte owners), e-bay, even look at local bank for cars they are selling!

Hope it helps,

T.Y. :)

2008-03-16 07:00:28 by SlipSlap

I'm interested in a private loan company that specializes in bad credit auto loans. I do not want the type of loan where they refer you to 20 different dealers. I already have a vehicle in mind through a private seller. How can I just get a bad credit auto loan that has no referrals for dealers???

About the only thing that comes to mind in your case is called
owner financing.
If you are buying from a private person... ask them to "finance" the deal and take monthly payments... It is worth a try, isn't it?

2009-02-27 21:23:47 by Tyler C