Hi. I need to buy a car, but my crdit is damaged. If i give a good downpayment, will I be able to buy a car?

Asked by Dec 29, 2013 at 11:48 PM about the 2013 Dodge Avenger SE

Question type: Shopping & Pricing

Hi. I am looking for a car between $10000.00 to $13000.00. I need to finance, but my credit is bad. Would I be able to buy it with a good downpayment? Thanksss.

5 Answers

61,205

Depends on how bad your credit is. You'll have to pay a higher interest rate because to the lender you're a greater risk. If you're in bankruptcy or have a past repo you're best option is probably a buy here pay here place. Another thing to consider is how old are the bad credit issues? According to The Fair Credit Reporting Act these bad things can only stay on your credit report for so many years (the time period varies from state to state). After the time period has elapsed the bad items MUST be removed. If not you have the right to file suit against the reporting agencies for defamation of credit. HTH. -Jim

2 out of 2 people think this is helpful.
Best Answer
6,435

best bet is either a co-signer or buy here pay here lot, at that point the buy here pay here you pay twice what the car is usually worth, with a co-signer you would have a better chance, or face the 10% plus interest rate at a car lot

1 out of 1 people think this is helpful.
85

Try to stay away from a buy here pay here. They are in house financing so it will not help you credit at all. If you can afford a big down payment, I would suggest doing some heavy searching and buy a car from an individual for $3000 to $5000 cash.

1 out of 1 people think this is helpful.
5

yes

5

Mine and my husbands credit SUCKS! As a matter of fact, he came back (on one report), as having NO credit at all! Skopos (in Texas), financed me, with my husband co-signing. We live in Rolla, Missouri, so we went to Kingdom KIA. We got financed with $1,500 down on our debit card, and my 1986 Chevy Camaro as a $1,000 trade-in! We got a 2012 Dodge Avenger, I think it's an ES, or an SE, but not sure. So far, it's a great car and we love it! So if you can find a DEALERSHIP that uses Skopos as one of their lending companies, they should help you.

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