How can you buy a car if you have bad credit & you don't want a co signer & possibley no money down?
348058
Pay cash for the entire thing, but other than that, you are SOL.  If you have bad credit, you are unfortunately at the car seller’s mercy and unfortunately, they are a tad bit unsure of the concept.  The up side is that purchasing a car is the best way to start rebuilding your credit.  First, do not go in with unreasonable expectations, you will get a high interest rate and the car will probably cost twice as much as it is worth, that is off the lot, do not even look at the end run of the finance charges, that will be to depressing.  You will want to work with them because they have to sell this deal to a loan company and they will cut them no slack, it is all a domino effect against you, caused by your bad credit and the only bargaining chip you have/they have for you is the interest rate points.  DO NOT THINK ABOUT ANYTHING BUT MONTHLY PAYMENT, if you let the guy who thinks he can slick talk you into a better deal convince you to try, all you will do is get yourself talked out of a car.  Dealerships flat out do not have the time to deal with special finance cases that are difficult, they have to many that understand where they stand to bother with it, they will let you walk and simply pick up the next guy, it makes no never mind to them.  Second, get an extended warranty plan if you can, but make sure it covers everything possible.  No warranty will cover wearable parts, but make sure it covers everything else, if you do not know what I am talking about here, find a friend that does and take him with you, you will need him.  Third, get the simplest car possible, the more toys you get, the more things that can break and that raises the likely hood that you will just swing right back into your current situation, instead of using this as a stepping-stone out of it.\n\nHope that helps\n\nJohn B.
914317
If you are thinking about this question in terms of buying a car this site can help you go over the pro/cons of each choice.\n\nhttp://www.myautoloan.com/html/auto_loan/auto_financing_vs_leasing.html\n\nNow, as far as building credit goes, here's a *quick* breakdown of how credit works and how to get your score higher.\n\nThe MOST important thing when it comes to building credit is keeping all of your accounts in good standing (don't have any missed payments or late payments if you can avoid it. 30 days late, while bad, is not as serious as 90 days late or more.\n\nWhat most people don't realize, that if you have a delinquency, and just pay off the account and close it - that will still show up as a delinquency being the last thing reported on the account. The best thing to do is to keep making payments and get good standing for 6months to 2years before paying off the account and closing it. 3-in-1 reports (the most commonly pulled reports for auto and home loans) show the last 2 years of account activities - not the last 7 (even though negative things will still show on your account for up to 7 on a single report).\n\nIdeally, you should have about 5 or 6 credit accounts (VISA, Macy's, Car Loan, etc. each count as 1), and ideally you should have them for 6 or 7 years and more. The longer the better. Keep them in good standing and never use more than 37% of available credit. For instance, if you have credit of $1000 - only spending $370 on that card is Much better than using $500 or more. Part of the credit score is determined by credit being used on available credit. Having debt of 50% or more on available credit is bad and will lower your score.\n\nAnother thing that determines credit score is debt to income ratio.  So, it actually will help you to have cards with high credit limits, just so long as you are not using all that credit. Because if your income is low, you want your debt to be low too. And high credit limits can help (if you don't spend too much) because they will make your ratio better. For example, take that $370 you have in debt from earlier example. If the card now gives you a $2000 credit limit - your debt ratio has now decreased  (you now only have debt of 18.5% instead of a debt of 37%) and your score will be higher.\n\nKeep in mind that the 3n1 reports show 2 years of activity... so if you open an account and keep it for a long time and get a high credit limit - but NEVER use the account - this will actually hurt your score. It is best to use just a little bit of credit and make small monthly payments for about 2 years, so this will show you are good at re-paying credit. This is why some people, who have tons of credit cards and always pay them back each month - even though that is great on their part, that is why they still have low credit scores. You NEVER want to get into too much debt, but a *little* bit of debt can actually build your credit scores.\n\nJust remember that each time you apply for credit or have your credit pulled from someone other than yourself, your score will go down. Ideally, 12 months of no credit inquiries is best. If YOU pull your credit info however (like on credit report websites) there is no penalty no matter how many times you choose to see your report. I, myself, use Identityguard and pull my reports every 2 weeks or so.\n \nWell, this doesn't cover EVERYTHING, but it should at least help you get started on building credit. This info has helped me... I was able to move my score up and buy my first home 2 years ago.\n\nGood Luck!
98978
No money down is not the problem. It is the bad credit. I have financed a lot of people with no money down. Seller credit buyer for re-occuring and non-reoccuring closing cost. Add that amount to your initial offer of the property. I am in the state of CA, therefore you need deposit when you make the offer, and money for inspections, unless you have the seller pay for all inspections. You need to fix the credit so that you can get a good interest rate.
984173
Sounds like a prepaid credit card may be the way for you to go... \n\nHere is a link to one that says "No credit or bad credit OK, NO credit check required, No employment required"\n\nhttp://www.fastcreditcardoffer.com/credit-card-search/credit-rating/bad-credit-no-credit/default.aspx\n\nGood luck.\n\n.
464686
Try doing the opposite.  See if you can get someone with good credit to co-sign on your loan or credit card.  \n\nCo-signers usually do not benefit as much from a good credit history, but sure get in trouble if there is a missed payment or default.  It can ruin the co-signer's credit.\n\nIf you have a friend who will co-sign your card or loan, it will help you more.  I did that with a friend who filed for bankruptcy, and had a very difficult time getting credit.  They needed a credit card to reserve a hotel, buy plane tickets, or general emergencies.  I had super good credit, so the credit card company had no problem giving us a card.  It helped her pull out of bankruptcy.
404690
$$$ as the saying goes money talks and BS walks.. The more money you can put down on the car.. better the chance of you getting approved.. No matter what the situation.\n\n$0 down.... Try again\n$500 down.. nope\n$1000 down.. Now we are talking.\n$1500 down.. Getting better\n$5000 down.. When can u pick it up.\n\nBut most can get approved at the $1500 mark
577318
get in debt and pay the bill(s) on time. The Kia dealership helped me get started again but it required a larger down payment for a new car - then I made payments on (or before due date) did this until car was paid off. It took me 6 months of making payments on time (establishing good paying history) before I could get a real credit card (not one of those you put money in the account) - my limit was 2,500.00 but at least it was a start and I was on my way after that - too many years of bad credit --- I learned my lesson!
717816
look for the car adds that say, "bad credit, no credit, no problem" or something like that. I don't know where you are, but google Auto Solutions.
1099136
1st: you can talk any sales person down all you need to do is stand firm on what you want to pay. (as a ex-carsales person i know you can do it)\n2ed: tell your dad you did all the research on the car; safety, durability, warranty (big key on used cars).\n3rd: kelly blue book the car you want and go online and see if other dealerships have same type of car you want, and use there price (if lower then ur local dealers)\nGood luck
970486
been there done that. I don't know how legal this is but what the hay.   Anyway, get a credit card from anywhere. Then get another one from anywhere. then get another one from anywhere. The ones advertised in magazines are the easiest. When you have these credit cards, you run them up to a $100 each and make the payments. You do this for three months. Then you look for one of these consolidation offers [usually in your junk mail from any bank] then you consolidate your three cards into one and that will bring down interest dramatically. One word of advice. If you are climbing out of a bad credit situation you have to make the low interest card payments on time and at least two times the minimum payment. You have to do this for one year. been there done that  I now have a 10,000 dollar credit limit. go slow.
1140848
check the link on my profile it might suite your needs better\nquote from the site\nWe have over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required.
887538
Hi there. Generally speaking your FICO score is between 300-850 with 620 being considered good enough to get a lower interest rate. Different sources score somewhat differently. When buying a car do not settle for the sticker price. Try to get 1-2 thousand knocked off. If at all possible, try to finance for no more than 2 years. This is difficult for most people. By doing so you will save thousands in interest on the loan. Do not tell the dealer how much money you have as a down payment initially. Mention that there is another car at another dealership that has offered you a better deal. (Sometimes it's just a game of BS) and I don't know why. It's just a matter of how high a profit the dealer makes.Don't be discouraged. If they won't budge, go somewhere else. Try to dress nice. It seems to make a difference on how you are treated. Good luck and never let them pressure you into any deal you are not comfortable with.
657177
It's true that people who buy everything cash are penalized somewhat on their credit, but if you put enough money down they get over it. If you can show them enough income along with a sizable downpayment you're good.\n\nOtherwise, you can buy a car and use a credit card to establish credit, but that takes a couple years. If you're young, sometimes it takes a co-signer, as lame as that is. Good luck.
243566
understand what credit is.  Certain lenders require certain things.  Like at least a 520 fico score, 3 years of work history, 5 year residence history, some require money down, some do not (depending on the score) Some require time on the beauro to be at least 5 years. Your best bet is to finance less than the WHOLESALE BLUE BOOK of the vehicle.  Find the car, do your research and never buy in the same day.\n  there are a lot of factors when thinking of buying.  please e-mail me if you need any other help....  there is a lot ot know.\n\nfordofmarin@gmail.com
156362
You can't.  If you have bad credit, you are a high risk.  You WILL pay more for a loan, PERIOD.
352118
try Capital One. but alot of credit card companies will try to work with bad credit just the intrest wont be that low. if that doesnt work try a secure credit card.
299005
No money down is possible with the right credit scores.  Or if you have at least 30% down, there are products that dont care about your score.  Put yourself in the lender's place.  I can talk further if you email me.  nlccorporate@yahoo.com