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How to get a decent car with bad credit?

I want to buy my first car but I have bad credit from cards I got back in highschool that i never got around to paying. I want to get a decent car, I would be ok with like a 02' Honda Accord or somthing like that. Will I need a co-signer or will anyone finnance me with my bad credit?

Public Comments

  1. You might be able to get some loan company to lend you the money. But either way it would always be cheaper (lower %) with a co-signer with good credit. Good Luck...
  2. i suggest pay cash... you take a chance on one of the cars that will give you a break.. just miss one payment or not on time they will repo the car in one day ok..
  3. Could try government / police auctions where you can get cars cheaply. If this is your first car, this is a viable route you can try - with or without bad credit.
  4. I'd suggest you "get around" to paying off the credit cards. That will help your credit score, and then, with a co-signer, you might be able to get financed.
  5. There are not many people in this world who do not get excited by the prospect of buying a new car. This excitement can sometimes be deflated by the whole finance thing. If your credit history is not so good<!--or basically non existent, then you may need to find a bad credit car loan.You may find some car loan here, http://best-loans.awardspace.com/guaranteed-car-loan.htm http://best-loans.awardspace.com/auto.html The fact is buying a car for most people is one of the biggest purchases they will ever make. Owning a car is kind of like a right of passage for a lot of people, and definitely a sign of "coming of age" for most teenagers-->Let face it, we all need a reliable car to get around, and most of us would rather drive a nice new or late car than an old bomb.
  6. The only way to get a car is to pay cash. Save some money, then buy a car. What you want is a car you can afford. There are plenty of good used car under $2500 out there.
  7. You don't say how old you are. If you're still "close to" high-school age then you'll probably need a co-signer. In other words, are you 22 or under? Reason for this is that you've got a very short-term credit history, and you haven't proven yourself reliable with the credit you had in the past. A co-signer guarantees that he/she will pay the loan if you don't. Also, since your credit history is relatively new, they will use theirs to set the interest rate. Look for a car that is $10,000 to $12,000 and has less than 50,000 miles on it. Why? Banks don't want to loan you too much money, and they want you in a reliable car. If you have to make the choice between fixing the cars engine or making a payment, odds are you'll choose to fix the car. They don't want you in that position! Try to get pre-approved. Pre-approval gives you a price range to shop with. If you know you have a loan for $11,000 you won't go looking at $15,000 cars and waste your time trying to get a loan that's too much money. RoadLoans is a good place for pre-approval. They ask for some basic information, proof of income and residence, etc. and give you a great interest rate. They express mail you the check and you take it to any dealership you want! Here's a quick link to RoadLoans if you want it: http://bytemgdd.com/clk.aspx?l=12265&c=3909&s= If you really want to help yourself then I'd recommend you pull your credit and see if any of the credit cards have NOT been charged-off. Then contact the lenders and try to work out payments. If they charged-them off then they don't care about them any more and even if you do pay them off they won't register it on your credit report. But the ones that aren't charged-off will report it to the credit bureaus which will increase your credit score over time. Hope this helps!
  8. You can try http://www.used-cars-information.com/ 90% off Retail Value. Good luck!
* Some answers may have been provided by Yahoo! Answers.