Cant Get Financed For A Car Need Help Or...

[hollisterguy06k]

...sugestions? ok first of all im trying to get a new car i just got divorced and my credit is not good (500)i only have 1 credit card that im 60 days late on but just payed off ive been working at my current job for 3 months and make about 6,000 a month in car sales well i tried buying a car last week and my grandfather co-signed for me as well he makes 100,000 a year and is retired and has a 845 credit score and i was turned down by all the banks i dont get why they wont do it i make more then enough money to make a 350.00 dollar payment on a 15,000$ car i really need a vehicle and need to know options like i said before my co-signer has a 845 fica and has never been late in his life i dont see why im getting rejected

[WPB_LV_AV]

I see commercials all the time for dealerships who are offering loans to individuals who have no credit bad credit and even bankruptcies. Wait until you see that advertised and then go for it. Or you could find a co-signer.

[wrichard1]

I can't figure that one out they should go for it.

[the answer is within you]

go to a buy here-pay here place. they are advertised on tv all the time. be forewarned though, one day late on the payment and they will come and take the car. i know someone (an idiot) who put a $5,000 down payment and they repo'd the car after he was one day late making the payment. guess they don't call them loan sharks for nothing

[messenger_of_the_void]

Yeah, with that sort of cosigner, they've got to be kidding. I would try some other banks first. Maybe the amount is a bit high is all I can think of.If you're car savvy at all, I'd just opt for something older...that is, old enough to get you under 8 grand or so...should be able to find a good car for that easily. You can go through a private buyer usually and still use a loan. If you get a loan for your price limit, you can get a purchase agreement (just something for you and the seller to sign to show the bank, basically), and the bank can make the loan check out to that person, then just give them the check and they sign you the title. That's how I got my present car.If none of that works, or you just don't want to buy a car that isn't somewhat close to new, then all I can suggest is a credit building technique. This will take some time, mind you, but it's a good idea regardless:Take out a small loan for an amount of money which you actually have, just for the purpose of paying it back. This way, you don't have to worry about not having the money...unless you're a notorious spendthrift hehe. Make sure the bank does not have any penalties for double/triple payments, etc... Over the next 6 months or so, pay it back by making extra payments (the initial loan plan would be to do it over a year or more usually). Doing that will seriously help your credit score...then next time, you borrow more, and so long as you keep faithful paying, they'll jump at lending you money.

[somebody 1983]

i was in about the same situation back in April and I tired co-signing w/ my father who has good credit about 700 and my score was around 519. I was ready to give up and our saleman actually found a bank willing to finance us on a 11K loan w/ 5-800.00 down. We ended up only putting down 500.00. The bank's name is Drive Financial Service. Their site says they specialize in auto financing for consumers with non-prime credit, scores under 600. If anything, you'll probably need a down payment and you'd probably have to start with a small loan.