Bad credit auto loans?
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Does anyone know of a good company to go with for a bad credit auto loan in South Georgia? Need a auto now and don’t have good credit and no money for down payment. Is there a company that can help us?
Our bad credit is not that we don’t pay our bills. There are two people with the same name ,both in the military. One is retired. The other person’s non payment of his bills has been attached to our credit. We have worked really had to get most of his information off our credit report but still haven’t been able to get some off as fast as others.
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insidebuy said:
NO. We’re in a recession. Far to many banks and lenders have already gone under by making high risk loans to people with bad credit. When the MILLIONS of high risk people recently defaulted on their loans, these banks and lenders lost all their money and ended up bankrupt.
No lender today will take a high risk chance anymore. Your credit history shows you are not responsible. So nobody will fund a loan for you.
There are predatory "lenders" that may be willing to take a chance on you. But these thieves will charge up to 99.9% APR ! You have to make a payment every two weeks and if you’re a day late, they’ll repo the car. If you go with one of these places a $12,000 car will cost you $40,000 by the time you pay it off !!! Over 330% more than the actual selling price. And they don’t send reports to the three credit bureaus … unless you default. Then they send them the repo notice.
There are a good many people still living in Fairy Tale Land. They still think lenders are begging people to borrow, even if they have bad credit. They need to wake up. We’re in a recession caused by all the loans made to high risk people that have gone into default. Your chances of getting approved with a primary or secondary lender with credit and no down is 0%.
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0March 1st, 2010 at 5:01 am -
Jason C said:
No such thing, any company that will lend to you is going to be shady, they are going to charge awful rates. WIth this credit market, you probably wont be able to get any credit.
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0 0March 1st, 2010 at 5:01 am
