Finance an auto with poor credit?

[redranchtexas]

What is the best way to finance an auto with poor credit and not pay outlandish fees?

[enzyme 305]

If you have poor credit, you really shouldn't be leasing or financing something like a car. Cars are notoriously bad investments, and new cars are really luxury items. Instead, buy a cheap car with cash. When you can afford a better one, sell it and buy another. Cars made in the last ten years are quite reliable, especially if you regularly maintain them.

Take it in every 4000 miles. Some organizations have relationships with warranty issuers and can even give a powertrain warranty for used cars (e.g. Wheelz, Autosave). Don't let the Auto industry convince you that you need a car you can't really afford (long term purchasing contracts are dangerous and taxing). The difference between a $15,000 car and a $3,000 car is not as much as you'd think - it is really quite subjective. Do yourself a favor and use your extra cash for something of real value.