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Posted in Auto Loans
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Apollonia1nOnly

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Need a car but not sure how to go about this...
My credit score its currently 546. I'm really in a bind and I have to get a car next week or quit my job and pull my three year old from school. I don't . Make much so I can't afford a high down payment maybe 1000p and pmtpmts plus insurance will kill me if too high. We HAVE to move and I need money for the new rent and move in fees.
I would like to get financing but I have never bought a car before and I don't want to do this wrong.
What's a fair interest rate for my level of credit and . How should I go about getting financed? I also don't want a co-signer. I'm really nervous about buying a used car for cash because I don't trust the car. I would think that a used dealer with certified pre owned would be safe...
Any sound advice is much appreciated. Thanks in advance.




oriented

colev

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Whenever buying a used car it is good to have a friend who knows how to look under the hood. If you don't have that friend you can try carmax. Unfortunately with your credit score you will have a hard time finding a good loan if any at all. If you need a car that urgent You can't worry about the interest rate right now. Your best bet is to take a loan for a car that is worth it and where you can afford the monthly payment. Then try to build up your credit over the next 6 months and refinance the car loan. usually it's only a fee of $50-$100 to refinance.

Once you found the car you want, you can "shop around" for the best loan. Try the dealer, your bank and if possible a credit union. Do this all within the same week. That way your credit doesn't drop further for each loan application since you are rate shopping and all the inquiries count only as one.

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