Question:
Bankruptcy discharged in Dec 05. I have good job, cash for down payment, looking to trade or sale my 01 lincoln ls in excellent condition... 88,000 miles.. i want a 06 used 4 car sedan: good mpg, dark color, reliable, and stylish? what do you recommend? i would also like recommendations on finance companies with my credit score being 592. I have cash for down payment. i am in the position to buy a car cash money but i would like to finance and get my credit back to good standard. i've never been in a position of being turned down for credit or get high interest rate. What interest rate should i expect to get and what company is good for financing and have the blank check option. That would make it alot easier for me.
Answers:
what kind of economy car should I buy?
Anywhere from 11% to your max usary rate in your state.Its going to be hard for you to get your blank check. I would recommend visiting a dealership with special or subprime financing. Unfortunately having a discharged BK really hurts you. The positive is you have collateral.
Has anyone purchased a car using AAA vehicle purchase program?
i dont even know if they will give you a line of credit, hopefully they do, if they do the rate will probably be really high.What is the first time buyer's program for buying a new car from Kia? Is there one?
i own a repair shop,and id look for a good smaller car that gets pretty good mileage and also holds its value good,and you have a pretty good score ,,but its kind of a low number ,,id go to a larger dealer ship,and see what they offered me ,,sometimes they will do you better on interest than a bank will,a bank is probably going to want around 18% or more for interest ,and a good dealer might keep it a lot lower than that ,and never go to one of those places that guarantee you a car regardless of bad credit,,you will get the loan but at about 29% interest rate,but i think you,ll do alright,,plus you have a good car to trade on that helps,,good luck,,i hope this help,s,,have a good x-mas.Does anybody know where i can get a 1998 Mustang Gt or a SVT Cobra for under $6,000?
Well the good news is that it seems you may have the means to get yourself back out of your situation. Start with cash down this may help you get a better rate. You will most likely end up with a sub-prime lender. Your best bet is to get the best rate you can and establish a steady payment history for at least 12 months. As for your rate you are looking at at least 12%. It could go as high as 29% plus depending on what the laws are in your state. Some states cap interest rates at 19% other have no cap. After establishing a steady payment history you can opt to refinance to see if you can get a lower rate. Also don't rely only on the dealership check with your local financial institution especially Credit Unions if you have a nice down payment they may be able to help you, and you can actually talk to the person approving your loan. Good Luck!How can i get the best car lease terms?
If you are a member of a credit union, talk to them first, usually they are more willing to work with you.What is the lowest price paid for an Audi A4 Wagon and how did you negotiate?
Try to arrange financing before going to the dealership. One creditor that will usually loan to higher risk individuals is Capital One, your rate may be approximately 12-25%.
What happens if you buy a car from someone but they still have outstanding finance on it?
Best of luck to you
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