Autoloan bad credit? decline even with 50% down!?

So I need a new car bad! I have bad credit, went through a bad divorce, stuff added up fast....





Well the hunk of junk i'm driving now is on its last leg and I need a new reliable car that gets better gas mileage.





I applied for a loan for an 8k car offered to put 50% down and STILL got declined! How can I get a car loan?
Autoloan bad credit? decline even with 50% down!?
You don't need a car loan you need a car. Sell the piece of crap car and take the money plus the $4000 cash that you say you have and go buy yourself a nice used car.





There are plenty of good solid used cars out there for $4500. All you have to do is look for them.
Autoloan bad credit? decline even with 50% down!?
You should go to Enterprise.. Where they rent cars ,, they also sell cars really cheap I probably have the worst credit ever and got approved for a 08 model
Reply:Do you have a judgment or repo on your credit? Sometimes those ellicit automatic turndowns, and right now's credit crunch isn't helping you.





I agree with the above advice, I'd go find a $4500 vehicle and get through the rough part now, then worry about an auto loan later.
Reply:You will find the economy isnt helping you either.





I am married and my wife and I have an excellent credit rating with no defaults ever.





We are both managers and had an existing personal loan with a bank and went to borrow another $7k to consolidate a credit card and to put toward our wedding.





We are already paying more off our loan than what we would be paying if we were approved.





We were declined for the loan, so I went for the loan on my own, of $7k and was declined again.





Damn US economy reflects on the whole world.
Reply:When my husband and I seperated he lost his Pickup,well when we got back together it came up on my credit as well.Anyways the only place that would take us is Auto Sales and Finance.I dont know if they have that in your area,but if you can find one they will take you.We have very bad credit,but with 2500 down on a used Grand Prix for 8000 grand we were able to have a car with payments of 250.They will work with you if you explain your situation,and you have a good job.Go to autosalesandfinance.com or L2auto.com is another place that takes people with bad credit.
Reply:Well, if can afford to pay 4K deposit, cut your expectations a little and buy a car that costs 4K to 4.5K, good used cars are OK. Just get them checked by auto engineer before you buy.
Reply:I used to sell cars and there's a few options. Unfortunately all too often I ran into people who had gone through a divorce and their credit was messed up.





One of the people below suggested a good used car. That's certainly a choice. But if you put a lot of miles on a car you're starting out in a hole, because a car that costs $4,500 is gonna have at least 80k to 100+k miles on it.





You have a couple other choices. One is to apply for a loan on your own, outside of the dealership, with a lender that specializes in giving loans (and chances) to people with bad credit. One such company is RoadLoans.





I had a friend with a bankruptcy (and more) on her credit and they approved her no problem. They send you a check that you take to the dealership and use to purchase a car.





Here's a quick link to RoadLoans if you want to check them out:





http://gdlckjoe.com/clk.aspx?l=12265%26amp;c=3...





You're other alternative is to try a "Buy Here, Pay Here" lot. Someone like a DriveTime (and maybe Enterprise as the guy said below).





Drive time has a variety of cars. Some have miles on them, some are newer. But they finance the vehicles themselves, so they don't turn anyone away. THEY ARE THE BANK, and their specialty is bad credit loans.





DriveTime is not in every state and I don't know what state you're in so you'll want to check that out first before filling out an application. Here's a quick link to DriveTime if you want it:





http://www.dpbolvw.net/click-2345738-104...





Finally, here's some advice for you. Whatever you buy, DON'T KEEP IT. The interest rate is guaranteed to be really high. But if you make ALL your payments on time for about 18 payments (NOT months) your credit will be getting back on track and you'll be able to buy a newer car for a lot less interest.





Plus when you pay off a large debt your score goes up, so trading out of the vehicle after a year and a half will boost your score significantly.





Hope all this information helps!





For more like it you can visit my website at www.1-800badcredit.com





Good luck to you!
Reply:Don't!!! Buy a 4k car and rebuild your credit.
Reply:Finding a bad credit auto lender take a little bit of work to find the right one. When looking to buy a new or used car, the dealer may offer bad credit financing, or refer you to a lender. Car buyers should consider arranging their own financing. Bad credit auto loans are simple yet complicated and some lenders will try to take%26lt;!--advantage of you. It helps to know your available options.Before applying for a car loan, try to get a copy of your personal credit report. Lenders base approval on your credit score and credit history. Some lenders classify sub prime borrowers as persons with scores below say 700. On the other hand, another lender may qualify a borrower with the same score for prime rates.





http://best-loans.awardspace.com/autoloa...





http://best-loans.awardspace.com/auto.ht...





Unless you have a 700 or higher credit score, it might be a good idea to look at your credit report and see what you can do to improve your credit score. A 700 score will get you the best rates at the best loan terms. Any credit score higher will not change what a lender can offer you, since you will already qualify for the best loan deal. Where you will start having trouble is if you fall below a credit score of 700. When you fall below--%26gt;lenders see you as a risk and will start charging higher interest rates in order to offset the risk.At this point your only options are to seek a bad credit lender or get to work on fixing your credit score. There are a number of quick things to do to improve your credit rating and get the loan you need at the rate you want.
Reply:see first of all bad credit no matter if your credit history is good according to that you will get a loan, but try for some online sources they provide car loans for people have bad credit and also with a low interest rates, try to contact them and get your problem resolved, for your reference try http://www.carloan123.net my one of friend had recently get a car loan from there for bad credit and also with a low interest rates, you may try this source.