I have already tried one of the local dealers and they told me no yesterday. I have a car financed with Ford Credit right now and I am upside down on it because I deffered a few payments a while back. I want to trade it in, because it is starting to have problems and it is not worth me putting more money into it. I really do not want to go to a buy here pay here llot, because their cars are really over priced and they usually have motor issues too. Please let me know what you think. Thanks!
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Recenlty my friend got Auto loan of 25000$ for 10 years on 3% which should be paid annually my friend doesnt have good credit his credit score is below 500 but still he got loan.
I asked him how you got ?
He told me while i was searching on internet for Auto loan with Bad credit he found a site which contains about 8 links for bad credit so i checked all of them one by one .
go to
Dixiloan.com
Then Go to "Auto Loan"
Note each link contain different interest rates and repayment period.
Take Care
Bye!
Won’t happen unless you have a huge down payment or a cosigner
You wont be able to trade-in if you still owe on it and is upside down. You need to pay off the loan first to trade the car.
While, you can get a auto loan with bad credit but then you may have to down payment and would need a co-signer.
It is almost always cheaper to fix a car than to buy a new one. Financing a different car won’t solve your problems. Unless you have fixed what is wrong with your finances, you will continue to bleed money.
IF you do manage to get financing for another car, you will be paying out the nose for interest. In addition, if they take your current car in trade, they will tack the upside down amount onto your new loan, also at the higher interest rate. So now, you are financing a $10000 car for $10000 plus say $4000 (old car residual). $14000 for a car that is probably worth $8000 or so the minute you drive it away. By the time you get it paid for, you would have spent somewhere around $18000 or so for a car that in 5 years will be worth close to nothing. Smart move – NOT!!
Catchup on your existing car, keep it running. And start putting money away for your next vehicle.
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