Can I get an auto loan with bad credit?

Ok, let me tell you my story-I have bad credit but NO DEBT. Before I joined the military, I payed my 2300 worth of debt off. That was about a year ago, maybe 10 months. Anyways, My credit is still bad though, and I applied for an autoloan through USAA and they said I could get a 12,000 loan WITH a cosigner. But This is not what I need, I need a little bit higher, say, 15,000. Since, I have no debt, Are all the places gonna only approve me for 12,000 or can I get anymore? Please don't tell me to get a car for 12,000, I have the car I want, it is a good deal and my only advise I need is about the loan, not my car. Thanks, by the way, I currently have no credit cards or anything.

Can I get an auto loan with bad credit?
Yes, you can get an auto loan with bad credit, and yes, I'm sure someone will loan you $15,000...but you won't be able to afford the payments. Auto loan companies make money off people like you. To be honest, USAA is probably giving you the best deal out there.....I know, I just bought a car with their money three days ago, and the dealership wasn't happy about it. You didn't say what branch you are in, but if you quality for membership in Navy Federal, you can try them as well. Their rates are lower than USAA's, but they tend to be pickier about who they loan to (I have NO idea why, since their customer service is so bad). My point is, if you want a HIGH APR, yes, someone will loan you money.





But it sounds like you need to learn to live within your means, and if that means buying a $12,000, then you need to buy a $12,000 car. Personally, I don't know why anyone who needs a cosigner for a car needs to be buying something that expensive.
Reply:I used these guys... the interest rate was a little high, but they got me approved... http://creditoffernow.com/auto... Good luck! Report Abuse

Reply:Probably have to get your credit score back up there but that will take time and by then the car you want will only be 12,000.
Reply:If you have a down payment surely there is a salesman in your area willing and able to get you into a car. The interest maybe a little high but if you have cash in hand that should not be a problem. Shop around, look on the internet for dealers. Everyone pretty much owns a car so I know you can too.


You can refinance the car to get the interest rate down later or just pay off the thing quick if you can.
Reply:I found some good info here.
Reply:We had to get a car loan with bad credit. The bad part was the interest was 24%!!!!! We were paying the same car payment as a rich person with a brand new Lexus -- just because bad things happened to us in our lives. It sucks.
Reply:get a credit card to boost ur rating...but some banks or lending companies will give u the loan...(interest maybe higher tho) but still u might get it...just look around
Reply:doesn't at all seem like a problem from here


http://www.wesayes.com


check it out for yourself you'll be pleasantly surprised
Reply:if you are working through a car dealer they should be able to get you into something. Thing is though you will pay a much higher interest rate, and you will need a nice down payment. You wont walk into low payments and interest rates and 0 down with bad credit.
Reply:Can you drive a hooptie?
Reply:You probably can, but your interest rate is going to be absolutely insane!!!

lilac