Bad Credit Agency

What do you know about Monster Auto Credit dealership in Md & Virginia?

I'm trying to buy a car and trade in my current vehicle. I am extremely knowledgable about cars and financing but I currently have bad credit and have limited options. I talked to Monster Auto Credit in Maryland and Virginia, who assured me they could get me a car without raising my car payments but I read a few bad reviews about their practices. Has anyone dealt with them? (Im not looking for someone who works there to repeat their advertisments to me but a HONEST and REAL experience)

Public Comments

1. This sounds like a buy-here-pay-here or "we finance anyone" dealer who sells over-priced junk cars and finances customers at the maximum interest rate allowed by state laws. They put customers on a tight weekly or bi-weekly payment plan and put a starter disabler device on the car such that, if a payment is late, the car is diabled and won't start. If a payment is missed, the car is repossessed and put back on the lot for the next sucker. Stay away from this type of dealer. They are evil.
2. If you have bad credit and limited options, why the heck do you want to buy an expensive car and pay interest on it? There is a wonderful principle of "living according to yoiur means" - I have great credit, an almost-paid mortgage, but I will NEVER borrow money to buy a DEPRECIATING ASSET, such as a car. A "classic" car such as an E-type Jaguar, which will be worth more in the next five years than it is now may be another matter, but on a daily basis, I drive quality, clean, well-built cars (an exciting Alfa Romeo and a superb Mercedes E-Class) which each cost me just a couple of weeks' wages... The most I can lose on either car is... a couple of weeks' wages! Try a cheaper car, and save some money, pay off any debts you have, and start living! And if that dealer wants you to trade from them and won't increase your payments, they sure will extend the TERM you owe them over, so you will pay a fortune in interest, for a car worth nothing when you "own" it.
3. Listen to the first two guys. However today many houses are depreciating assets.