Skip to main content

Tips for Buying a Car with a Bad Credit Score

Do you have bad credit but want to buy a car? There are many individuals in the same position. Listed below are tips that may help you get your car despite a poor credit history.

1. Check out local car dealers

Car dealerships may work with you in financing a car, especially with the recent economic upheavals. Check with dealers in your local area about the options that are available to you in acquiring a vehicle. Do not be afraid to negotiate for better prices and lower down payments. You can also do some of your research online and save yourself time and legwork.

2. Get the best price possible

If you have your eye on an auto that really appeals to you and, upon checking it out, have found it to fit your needs, do a bit of research among several dealers in your neighborhood who sell that make and model. Check out the prices that are being offered and see who can give you the best price for your car.

3. Get a free copy of your credit report

Every year, you are entitled to receive a free credit report from one of the three credit bureaus in existence, Equifax, TransUnion and Experian. Read over your report carefully and check for any inaccuracies that could be giving you a lower score than you deserve. When you have a copy of your credit report to refer to, it will give you a better idea of your current credit situation and the steps you will need to take to improve it.

4. Consider used rather than new

Of course, you would love to have a new car, but you might want to consider obtaining a used one that will be less costly and easier to purchase. You may be able to acquire a new vehicle in the near future when you have given yourself time to clean up your credit history and improve your score.

5. Try pre-financing

Websites such as will provide you with pre-financing that can be a very useful option for you when buying a car. It is a simple process to fill out the loan application. In most cases, you will know within 24 hours if you have been approved for a car loan.

6. Work out a budget for car payments

Before actually buying your car, work out a budget plan to see if you will be able to afford the car payments each month. Do not jump into purchasing a car unless you know beforehand if you can afford to pay for it.

There are ways to obtain a car even when you are plagued with bad credit or no credit at all.

Melanie Lewis writes for a site that provides information on car loans with bad credit as well as a useful payment estimator to help you calculate your monthly payments.


Popular posts from this blog

Low interest credit cards - how to make them work for you

Credit cards are borrowing instruments, unlike debit cards where you already have the money. Banks are there to make money too. Just like high street stores, they hope to maximise their profits within the rules. So it’s important to understand the basics and find a credit card that’s right for you – you can compare low APR credit cards here . Now you know the rules, let’s find out how to play the game. The financial services industry charges interest on the money that it lends out. Let us assume you borrow £100 on your credit card and keep it for exactly one year before you pay it back. For the purposes of this article, we will assume your loan attracts 8% interest per year, which is the Annual Percentage Rate, or APR for that particular transaction. Practical example

Why it’s important to save for retirement

While retirement may seem far off in the distance for some, financial experts say you’re never too young to begin saving.  In fact, the earlier you calculate your retirement needs and start building your nest egg, the easier it will be to create a viable plan for the future. Many experts advise you begin saving a percentage of your income for retirement as soon as possible, no matter how little the contribution may be, as it’s possible the Social Security benefits millions of people currently depend on may be in jeopardy.

How does a Prepaid Credit Card work?

Can They Really Be a Solution to Avoiding Credit Card Debt? When it comes to plastic, there are a lot of choices out there. Not only do you have the choice of credit card , debit card, or prepaid credit card, but you also get to decide which financial company you want to use as your card provider. Credit cards and debit cards are both risky. Credit cards can help put you deeper into debt, while debit cards give thieves and collectors access to your entire bank account. A growing number of people are finding that prepaid credit cards are becoming the best option. What Are Prepaid Credit Cards? Prepaid credit cards look and act just like a credit or debit card, except you put the money on the card before you make any purchases. You are only allowed to spend as much money as you have pre-loaded on the card, which means that you are not at risk of going into credit card debt from overspending. These cards also keep your money safe, because thieves will be limited to the amount that is on t

What are the Consequences of Overspending in Life?

How overspending can ruin your financial life? With today’s expenses and their prices, it can be very hard not to overspend. Still, that isn’t an excuse to stray out of your budget. You know why? It is because overspending can only lead to more problems than you think. Overspending can affect your whole life. With all the possible consequences, it may jump from one problem to another. Unpaid bills All the excessive shopping with your credit card can cause steep bills at the end of the month. If you keep on using your credit but don’t have enough money to pay for it in the end, then you’re surely in for a huge financial disaster. This will turn out to be missed payments, and missed payments will ruin your credit report. Missing out on payments will get your credit report marked for 7 years or more. And you can’t get rid of them by finishing them off. Credit report Overspending can cause a chain reaction of events. Once you get your bills due to overspending, it’s possible for you to mi

How to Make Your Title Loans Safe and Sound

Although title loans are tagged as risky, innumerable folks still use them for fulfilling their different financial obligations. Therefore, such loans are not completely bad because their significant use despite the risk factor says a lot of their pros. This makes it vital to discuss how these loans should be used so that the risk factor can be minimized up to a great extent. For those who are not aware of, the risk of title loans crop up in the form of consequences when you fail to pay back the loan. With such a failure, you are surely going to lose your car as well as decrease your credit score further.

Online Small Lenders and Grants For Women

In today’s world women are being more and more prominent. They are hard working mothers. Some are even working to support their entire family because they are single moms.  However the financial aspects of being a working women can be traumatic. Depending on the society you live you women may find it that they are not allowed to work or go to school.  Often times they are kept inside their homes to keep the household running smoothly. However most women find that they can be successful outside of the home and inside the home often doing both at the same time. They are working mothers who are often going to school to better themselves while working in the corporate field. For more information click here .

Money Moves: Imagine Playing Your Financial Life like a Chess Game

To say chess is a popular game would be a gross understatement. Chess, for at least 1500 years, has been considered to be not just a game, but a true test of intellect and character. One can learn a great many things about chess that can be applied to one’s life, not the least of which is one’s personal finance. Chess is a game that requires patience, foresight, and an ability to understand your opponent. Much like your personal finance, these qualities are required for you to come out on top in the end. Here are a few things you can take away from playing chess and use to improve your financial life: